ProMIS Neurosciences 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
PMN$3.98-1.7%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
(expressed in US dollars)
| | | | | | | | |
|---|---|---|---|---|---|---|---|
| · · Nine Months Ended · | |||||||
| · · September 30, · | |||||||
| · 2024 · 2023 · | |||||||
| Cash flows from operating activities | | | | | | | |
| Net income (loss) | | $3,017,080 | | $(9,632,053) | | ||
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | | | | | | | |
| Share-based compensation | | 202,619 | | 266,701 | | ||
| Foreign currency exchange gain | | — | | (2,632) | | ||
| Loss on issuance of common shares, warrants, and pre-funded warrants in July 2024 PIPE | | | 3,494,536 | | | — | |
| Change in fair value of financial instruments | | (17,014,080) | | (683,568) | | ||
| Depreciation of property and equipment | | — | | 322 | | ||
| Amortization of intangible assets | | — | | 2,816 | | ||
| Changes in operating assets and liabilities: | | | | | |||
| Prepaid expenses and other current assets | | (1,452,638) | | 38,897 | | ||
| Accounts payable | | (6,267,901) | | 5,439,199 | | ||
| Accrued liabilities | | (446,674) | | (2,515,120) | | ||
| Net cash used in operating activities | | (18,467,058) | | (7,085,438) | | ||
| Cash flows from financing activities | | | | ||||
| Proceeds from issuance of Common Shares from ATM Offering, net of issuance costs | | 190,274 | | — | | ||
| Proceeds from issuance of common shares, pre-funded warrants and accompanying common warrants from Private Placements, net of issuance costs | | 27,187,497 | | 18,259,414 | | ||
| Proceeds from exercise of pre-funded warrants | | 28,039 | | — | | ||
| Net cash provided by financing activities | | 27,405,810 | | 18,259,414 | | ||
| Effect of exchange rates on cash | | — | | (181,425) | | ||
| Net increase in cash | | 8,938,752 | | 10,992,551 | | ||
| | | | | | | | |
| Cash at beginning of year | | 12,598,146 | | 5,875,796 | | ||
| Cash at end of period | | $21,536,898 | | $16,868,347 | | ||
| | | | | | | | |
| Noncash financing activities | | | | ||||
| Conversion of convertible debt and derivative liability to Series 1 Convertible Preferred Shares | | $— | | $5,600,000 | | ||
| Share issuance costs related to August 2023 PIPE included in accrued liabilities as of September 30, 2023 | | $— | | $514,214 | | ||
| Reclassification of historical CAD denominated warrants from equity to liability | | $— | | $(396,375) | | ||
| Reclassification of historical USD warrants from liability to equity | | $— | | $1,287,400 | | ||
| Subscription receivable from July 2024 PIPE | | $500,000 | | $— | | ||
| Decrease in share-based compensation liability on CAD denominated share options increasing additional paid-in-capital | | $81,912 | | $— | | ||
| | | | | | | | |
| Supplemental disclosure of cash flow information | | | | | | | |
| Cash paid for interest | | $76,775 | | $124,595 | | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.