Hepion Pharmaceuticals Inc
For the period ended Mar 31, 2024. Filed May 21, 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.
Mar 31, 2024 · Filed May 21, 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
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss | $(2,853,806) | $(13,259,921) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation | 705,770 | 1,930,753 |
| Depreciation | 30,758 | 18,037 |
| Inducement expense | 2,567,044 | — |
| Change in fair value of derivative instrument-warrants | (1,160,652) | — |
| Change in fair value of contingent consideration | (770,000) | 48,434 |
| Changes in operating assets and liabilities: | ||
| Accounts payable and accrued expenses | (2,497,276) | 566,623 |
| Right of use asset | 30,859 | 50,585 |
| Operating lease liability | (33,752) | (53,614) |
| Prepaid expenses | 364,262 | 2,484,590 |
| Net cash used in operating activities | (3,616,793) | (8,214,513) |
| Cash flows from investing activities: | ||
| Net cash (used in) provided by investing activities | — | — |
| Cash flows from financing activities: | ||
| Proceeds from exercise of the warrants, net | 1,849,707 | — |
| Net cash provided by financing activities | 1,849,707 | — |
| Effect of exchange rates on cash | 86,708 | 18,784 |
| Net decrease in cash | (1,680,378) | (8,195,729) |
| Cash at beginning of period | 14,785,880 | 51,189,088 |
| Cash at end of period | $13,105,502 | $42,993,359 |
| 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 | $— |
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