Hepion Pharmaceuticals Inc
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
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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.
Sep 30, 2024 · Filed Nov 14, 2024
HEPA$0.11-13.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss | $(11,644,966) | $(37,866,414) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation | 763,020 | 1,189,988 |
| Depreciation | 30,758 | 54,866 |
| Amortization of debt discount | 474,570 | — |
| Inducement expense | 2,567,044 | — |
| Change in fair value of derivative instrument-warrants | (4,506,633) | — |
| Change in fair value of contingent consideration | (2,020,000) | (180,000) |
| Changes in operating assets and liabilities: | ||
| Accounts payable and accrued expenses | (4,297,192) | 1,430,993 |
| Right of use asset | 94,577 | 50,585 |
| Operating lease liability | (91,068) | (54,578) |
| Prepaid expenses and other assets | 1,566,461 | 3,487,456 |
| Net cash used in operating activities | (17,063,429) | (31,887,104) |
| Cash flows from investing activities: | ||
| Purchase of property and equipment | — | (13,956) |
| Investment in related party receivable | (600,000) | — |
| Net cash used in investing activities | (600,000) | (13,956) |
| Cash flows from financing activities: | ||
| Proceeds from exercise of the warrants, net | 1,849,707 | — |
| Proceeds from equity and debt issuance under SPA, net of discount | 2,500,000 | — |
| Net cash provided by financing activities | 4,349,707 | — |
| Effect of exchange rates on cash | 24,948 | (3,948) |
| Net decrease in cash | (13,288,774) | (31,905,008) |
| Cash at beginning of period | 14,785,880 | 51,189,088 |
| Cash at end of period | $1,497,106 | $19,284,080 |
| Supplementary disclosure of cash flow information: | ||
| Supplementary disclosure of non-cash financing activities: | ||
| Conversion of Series C convertible preferred stock | $— | $1,000 |
| Inducement expense for issuance of Series B-1 and B-2 warrants | $2,821,399 | $— |
| Stock-based liability awards reversed to additional paid-in capital | — | 2,983,006 |
| Operating lease asset additions | — | 242,507 |
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