Zura Bio Ltd
For the period ended Mar 31, 2024. Filed May 9, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Operations
(Unaudited)
(In thousands, except share and per share data)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · · · · | ||||||
| | | | | | | |
| · · For the Three Months Ended | ||||||
| · · March 31, | ||||||
| · 2024 · 2023 | ||||||
| Operating expenses: · · · · · | ||||||
| Research and development | | $3,593 | | $4,884 | ||
| General and administrative | | | 4,786 | | | 2,835 |
| Total operating expenses | | | 8,379 | | | 7,719 |
| Loss from operations | | | (8,379) | | | (7,719) |
| Other (income)/expense, net: | | | | | | |
| Other (income)/expense | | | (23) | | | 10 |
| Interest income | | | (1,215) | | | (1) |
| Change in fair value of private placement warrants | | | 606 | | | (177) |
| Change in fair value of note payable | | | — | | | 2,244 |
| Total other (income)/expense, net | | | (632) | | | 2,076 |
| Loss before income taxes | | | (7,747) | | | (9,795) |
| Income tax benefit | | | — | | | — |
| Net loss before redeemable noncontrolling interest | | | (7,747) | | | (9,795) |
| Net loss attributable to redeemable noncontrolling interest | | | — | | | 203 |
| Net loss | | | (7,747) | | | (9,592) |
| Accretion of redeemable noncontrolling interest to redemption value | | | — | | | (203) |
| Adjustment of redeemable noncontrolling interest from redemption value to carrying value | | | 7,017 | | | — |
| Net loss attributable to Class A Ordinary Shareholders of Zura | | $(730) | | $(9,795) | ||
| Net loss per share attributable to Class A Ordinary Shareholders of Zura, basic and diluted | | $(0.02) | | $(2.76) | ||
| Weighted-average Class A Ordinary Shares used in computing net loss per share attributable to Class A Ordinary Shareholders of Zura, basic and diluted | | | 46,914,542 | | | 3,551,906 |
Zura Bio Limited
Condensed Consolidated Statements of Changes in Redeemable Noncontrolling Interest, Convertible Preferred Shares, and Shareholders’ Equity (Deficit)
(Unaudited)
(In thousands, except share data)
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · Redeemable · Convertible Preferred · Class A · Additional · · · · · · Total | ||||||||||||||||||||||||||
| · · Noncontrolling · · Shares(1) · · · Ordinary Shares(1) · · Paid-in · · Accumulated · · Noncontrolling · · Shareholders’ | ||||||||||||||||||||||||||
| · Interest · Shares · Amount · Shares · Amount · Capital · Deficit · Interest · Equity (Deficit) | ||||||||||||||||||||||||||
| Balance as of December 31, 2023 | | $18,680 | — | | $— | | 43,593,678 | | $4 | | $162,820 | | $(103,494) | | $1,541 | | $60,871 | |||||||||
| | | | | | | | | | | | | | | | | | | | ||||||||
| Share-based compensation expense | | — | — | | — | | — | | — | | 2,409 | | — | | | — | | 2,409 | ||||||||
| Net loss | | | — | | — | | | — | | | — | | | — | | | — | | | (7,747) | | | — | | | (7,747) |
| Adjustment of redeemable noncontrolling interest from redemption value to carrying value | | (7,017) | — | | — | | — | | — | | 7,017 | | — | | | — | | 7,017 | ||||||||
| Balance as of March 31, 2024 | | $11,663 | — | | | — | | 43,593,678 | | | 4 | | | 172,246 | | | (111,241) | | $1,541 | | | 62,550 | ||||
| | | | | | | | | | | | | | | | | | | | ||||||||
| Balance as of December 31, 2022 | | 10,000 | 13,510,415 | | 12,500 | | 279,720 | | — | | — | | (32,056) | | | — | | (32,056) | ||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Issuance of Series A-1 convertible preferred shares as license compensation | | — | 267,939 | | 2,186 | | — | | — | | — | | — | | | — | | — | ||||||||
| Conversion of Series A-1 convertible preferred shares to Class A Ordinary Shares in connection with Business Combination | | — | (13,778,354) | | (14,686) | | 13,778,354 | | 2 | | 14,684 | | — | | | — | | 14,686 | ||||||||
| Issuance of Class A Ordinary Shares in connection with Business Combination, including PIPE Investment, Forward Purchase Investment, and Backstop Shares, net of $4.0 million of transaction costs | | | — | | — | | | — | | | 12,444,081 | | | 1 | | | 48,350 | | | — | | | — | | | 48,351 |
| Issuance of Class A Ordinary Shares to settle research and development license consideration liability | | | — | | — | | | — | | | 550,000 | | | — | | | 4,488 | | | — | | | — | | | 4,488 |
| Reclassification of public warrant liability to equity | | | — | | — | | | — | | | — | | | — | | | 2,001 | | | — | | | — | | | 2,001 |
| Share-based compensation expense | | | — | | — | | | — | | | — | | | — | | | 180 | | | — | | | — | | | 180 |
| Net loss | | | (203) | | — | | | — | | | — | | | — | | | — | | | (9,592) | | | — | | | (9,592) |
| Accretion of redeemable noncontrolling interest to redemption value | | | 203 | | — | | | — | | | — | | | — | | | — | | | (203) | | | — | | | (203) |
| Balance as of March 31, 2023 | | $10,000 | | — | | $— | | | 27,052,155 | | $3 | | $69,703 | | $(41,851) | | $— | | | 27,855 | ||||||
(1) The Company’s convertible preferred shares and Class A Ordinary Shares prior to the closing of the Business Combination (as defined in Note 1) have been retroactively restated to reflect the exchange ratio of approximately 108.083 established in the Business Combination Agreement as described in Note 6.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.