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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
10-Q
(Mark One)
☑
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended
March 31,
2022
or
☐
TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from
to
Commission file number:
001-37823
Kintara Therapeutics, Inc.
(Exact name of registrant as specified in its charter)
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Nevada
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99-0360497
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(State or other jurisdiction of
incorporation or organization)
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(I.R.S. Employer
Identification No.)
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9920 Pacific Heights Blvd,
Suite 150
San
Diego,
CA
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92121
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|
(Address of principal executive offices)
|
|
(zip code)
|
(858)
350-4364
(Registrant’s telephone number, including area code)
N/A
(Former name, former address and former fiscal year, if changed
since last report)
Securities registered pursuant to Section 12(b) of the
Act:
|
|
|
|
|
|
Title of Each Class
|
|
Trading Symbol(s)
|
|
Name of Each Exchange on Which Registered
|
|
Common Stock
|
|
KTRA
|
|
The
Nasdaq Capital
Market
|
Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or
for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing requirements
for the past 90 days.
Yes☑
No ☐
Indicate by check mark whether the registrant has submitted
electronically every Interactive Data File required to be submitted
pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter)
during the preceding 12 months (or for such shorter period that the
registrant was required to submit such files).
Yes
☑ No ☐
Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer, a
smaller reporting company, or an emerging growth company. See the
definitions of “large accelerated filer,” “accelerated filer”,
“smaller reporting company”, and “emerging growth company” in Rule
12b-2 of the Exchange Act.
|
|
|
|
|
|
Large accelerated filer
|
☐
|
|
Accelerated filer
|
☐
|
|
Non-accelerated filer
|
☑
|
|
Smaller reporting company
|
☑
|
|
Emerging growth company
|
☐
|
|
|
|
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Indicate by check mark whether the registrant is a shell company
(as defined in Rule 12b-2 of the Exchange Act) Yes ☐ No
☑
Number of shares of common stock outstanding as of May 11, 2022
was
65,532,826.
TABLE OF CONTENTS
i
PART 1. - FINANCIAL
INFORMATION
Item 1. Financial
Statements.
Kintara Therapeutics, Inc.
Condensed Consolidated Interim Financial Statements
(Unaudited)
For the nine months ended March 31, 2022
(expressed in US dollars unless otherwise noted)
1
Kintara Therapeutics, Inc.
Condensed Consolidated Interim Balance Sheets
(In thousands, except par value amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,
2022
|
|
|
June 30,
2021
|
|
|
|
|
Note
|
|
|
$
|
|
|
$
|
|
|
|
|
|
|
|
(unaudited)
|
|
|
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
|
|
|
8,839
|
|
|
|
10,537
|
|
|
Prepaid expenses, deposits and other
|
|
|
|
|
|
1,254
|
|
|
|
756
|
|
|
Clinical trial deposit
|
|
|
4
|
|
|
|
—
|
|
|
|
500
|
|
|
Total current assets
|
|
|
|
|
|
10,093
|
|
|
|
11,793
|
|
|
Clinical trial deposit
|
|
|
4
|
|
|
|
2,600
|
|
|
|
1,600
|
|
|
Property, equipment and intangibles, net
|
|
|
|
|
|
105
|
|
|
|
150
|
|
|
Total assets
|
|
|
|
|
|
12,798
|
|
|
|
13,543
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
|
Current liabilities
|
|
|
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities
|
|
|
|
|
|
2,782
|
|
|
|
2,219
|
|
|
Related party payables
|
|
|
5
|
|
|
|
458
|
|
|
|
561
|
|
|
Total current liabilities
|
|
|
|
|
|
3,240
|
|
|
|
2,780
|
|
|
Milestone payment liability
|
|
|
3
|
|
|
|
172
|
|
|
|
182
|
|
|
Total liabilities
|
|
|
|
|
|
3,412
|
|
|
|
2,962
|
|
|
Stockholders' equity
|
|
|
|
|
|
|
|
|
|
|
Preferred stock
|
|
|
|
|
|
|
|
|
|
|
Authorized
|
|
|
|
|
|
|
|
|
|
|
5,000 shares,
$0.001 par
value
|
|
|
|
|
|
|
|
|
|
|
Issued and outstanding
|
|
|
|
|
|
|
|
|
|
|
279 Series
A shares at March 31, 2022
(June 30, 2021 –
279)
|
|
5,6
|
|
|
|
279
|
|
|
|
279
|
|
|
17 Series
C shares at March 31, 2022
(June 30, 2021 –
20)
|
|
|
6
|
|
|
|
12,275
|
|
|
|
14,652
|
|
|
Common stock
|
|
|
|
|
|
|
|
|
|
|
Authorized
|
|
|
|
|
|
|
|
|
|
|
175,000 shares
at March 31, 2022 and June 30, 2021,
$0.001 par
value
|
|
|
|
|
|
|
|
|
|
|
49,306 issued
at March 31, 2022 (June 30, 2021 –
32,740)
|
|
|
6
|
|
|
|
49
|
|
|
|
33
|
|
|
Additional paid-in capital
|
|
|
6
|
|
|
|
127,670
|
|
|
|
106,821
|
|
|
Accumulated deficit
|
|
|
|
|
|
(130,908
|
)
|
|
|
(111,225
|
)
|
|
Accumulated other comprehensive income
|
|
|
|
|
|
21
|
|
|
|
21
|
|
|
Total stockholders’ equity
|
|
|
|
|
|
9,386
|
|
|
|
10,581
|
|
|
Total liabilities and stockholders’ equity
|
|
|
|
|
|
12,798
|
|
|
|
13,543
|
|
|
Nature of operations, corporate history, going concern and
management plans (note 1)
|
|
|
|
|
|
|
|
|
|
|
Subsequent events
(note 9)
|
|
|
|
|
|
|
|
|
|
The accompanying notes are an integral part of these condensed
consolidated interim financial statements.
2
Kintara Therapeutics, Inc.
Condensed Consolidated Interim Statements of Operations
(Unaudited)
(In thousands, except per share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
March 31,
|
|
|
Nine months ended
March 31,
|
|
|
|
|
Note
|
|
|
2022
|
|
|
2021
|
|
|
2022
|
|
|
2021
|
|
|
|
|
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
$
|
|
|
Expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development
|
|
|
|
|
|
3,474
|
|
|
|
3,843
|
|
|
|
11,169
|
|
|
|
7,784
|
|
|
General and administrative
|
|
|
|
|
|
1,884
|
|
|
|
2,762
|
|
|
|
6,055
|
|
|
|
7,091
|
|
|
Merger costs
|
|
|
3
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
500
|
|
|
In-process research and development
|
|
|
3
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
16,094
|
|
|
|
|
|
|
|
|
(5,358
|
)
|
|
|
(6,605
|
)
|
|
|
(17,224
|
)
|
|
|
(31,469
|
)
|
|
Other income (loss)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign exchange
|
|
|
|
|
|
1
|
|
|
|
(1
|
)
|
|
|
6
|
|
|
|
(3
|
)
|
|
Amortization of deferred loan costs
|
|
|
|
|
|
—
|
|
|
|
(23
|
)
|
|
|
—
|
|
|
|
(74
|
)
|
|
Interest, net
|
|
|
|
|
|
1
|
|
|
|
(6
|
)
|
|
|
3
|
|
|
|
(20
|
)
|
|
|
|
|
|
|
|
2
|
|
|
|
(30
|
)
|
|
|
9
|
|
|
|
(97
|
)
|
|
Net loss for the period
|
|
|
|
|
|
(5,356
|
)
|
|
|
(6,635
|
)
|
|
|
(17,215
|
)
|
|
|
(31,566
|
)
|
|
Computation of basic loss per share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss for the period
|
|
|
|
|
|
(5,356
|
)
|
|
|
(6,635
|
)
|
|
|
(17,215
|
)
|
|
|
(31,566
|
)
|
|
Deemed dividend recognized on beneficial conversion features of
Series C Preferred stock issuance
|
|
|
6
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(3,181
|
)
|
|
Series A Preferred cash dividend
|
|
|
6
|
|
|
|
(2
|
)
|
|
|
(2
|
)
|
|
|
(6
|
)
|
|
|
(6
|
)
|
|
Series B Preferred stock dividend
|
|
|
6
|
|
|
|
—
|
|
|
|
(6
|
)
|
|
|
—
|
|
|
|
(15
|
)
|
|
Series C Preferred stock dividend
|
|
|
6
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(2,462
|
)
|
|
|
—
|
|
|
Net loss for the period attributable to common
stockholders
|
|
|
|
|
|
(5,358
|
)
|
|
|
(6,643
|
)
|
|
|
(19,683
|
)
|
|
|
(34,768
|
)
|
|
Basic and fully diluted loss per share
|
|
|
|
|
|
(0.11
|
)
|
|
|
(0.23
|
)
|
|
|
(0.45
|
)
|
|
|
(1.47
|
)
|
|
Basic and fully diluted weighted average number of
shares
|
|
|
|
|
|
49,128
|
|
|
|
29,273
|
|
|
|
43,942
|
|
|
|
23,701
|
|
The accompanying notes are an integral part of these condensed
consolidated interim financial statements.
3
Kintara Therapeutics, Inc.
Condensed Consolidated Interim Statements of Stockholders’
Equity
(Unaudited)
For the three and nine months ended March 31, 2022
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number
of
shares
|
|
|
Common
stock
$
|
|
|
Additional
paid-in
capital
$
|
|
|
Accumulated
other
comprehensive
income
$
|
|
|
Preferred
stock
$
|
|
|
Accumulated
deficit
$
|
|
|
Total stockholders'
equity
$
|
|
|
Balance - June 30, 2021
|
|
|
32,740
|
|
|
|
33
|
|
|
|
106,821
|
|
|
|
21
|
|
|
|
14,931
|
|
|
|
(111,225
|
)
|
|
|
10,581
|
|
|
Issuance of shares and warrants - net of issue costs
|
|
|
7,200
|
|
|
|
7
|
|
|
|
13,627
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
13,634
|
|
|
Conversion of Series C Preferred stock
to common stock
|
|
|
1,467
|
|
|
|
1
|
|
|
|
1,255
|
|
|
|
—
|
|
|
|
(1,256
|
)
|
|
|
—
|
|
|
|
—
|
|
|
Exercise of 2020 Investor Warrants for cash
|
|
|
69
|
|
|
|
—
|
|
|
|
69
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
69
|
|
|
Exercise of pre-funded warrants for cash
|
|
|
4,800
|
|
|
|
5
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
5
|
|
|
Warrants issued for services
|
|
|
—
|
|
|
|
—
|
|
|
|
31
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
31
|
|
|
Stock option expense
|
|
|
—
|
|
|
|
—
|
|
|
|
811
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
811
|
|
|
Series A Preferred cash dividend
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(2
|
)
|
|
|
(2
|
)
|
|
Series C Preferred stock dividend
|
|
|
1,698
|
|
|
|
2
|
|
|
|
2,460
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(2,462
|
)
|
|
|
—
|
|
|
Loss for the period
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(5,966
|
)
|
|
|
(5,966
|
)
|
|
Balance - September 30, 2021
|
|
|
47,974
|
|
|
|
48
|
|
|
|
125,074
|
|
|
|
21
|
|
|
|
13,675
|
|
|
|
(119,655
|
)
|
|
|
19,163
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Conversion of Series C Preferred stock
to common stock
|
|
|
1,039
|
|
|
|
1
|
|
|
|
873
|
|
|
|
—
|
|
|
|
(874
|
)
|
|
|
—
|
|
|
|
—
|
|
|
Warrants issued for services
|
|
|
—
|
|
|
|
—
|
|
|
|
4
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
4
|
|
|
Stock option expense
|
|
|
—
|
|
|
|
—
|
|
|
|
830
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
830
|
|
|
Series A Preferred cash dividend
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(2
|
)
|
|
|
(2
|
)
|
|
Loss for the period
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(5,893
|
)
|
|
|
(5,893
|
)
|
|
Balance - December 31, 2021
|
|
|
49,013
|
|
|
|
49
|
|
|
|
126,781
|
|
|
|
21
|
|
|
|
12,801
|
|
|
|
(125,550
|
)
|
|
|
14,102
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Conversion of Series C Preferred stock
to common stock
|
|
|
293
|
|
|
|
—
|
|
|
|
247
|
|
|
|
—
|
|
|
|
(247
|
)
|
|
|
—
|
|
|
|
—
|
|
|
Stock option expense
|
|
|
—
|
|
|
|
—
|
|
|
|
642
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
642
|
|
|
Series A Preferred cash dividend
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(2
|
)
|
|
|
(2
|
)
|
|
Loss for the period
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(5,356
|
)
|
|
|
(5,356
|
)
|
|
Balance - March 31, 2022
|
|
|
49,306
|
|
|
|
49
|
|
|
|
127,670
|
|
|
|
21
|
|
|
|
12,554
|
|
|
|
(130,908
|
)
|
|
|
9,386
|
|
The accompanying notes are an integral part of these condensed
consolidated interim financial statements.
4
Kintara Therapeutics, Inc.
Condensed Consolidated Interim Statements of Stockholders’
Equity
(Unaudited)
For the three and nine months ended March 31, 2021
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number
of
shares
|
|
|
Common
stock
$
|
|
|
Additional
paid-in
capital
$
|
|
|
Accumulated
other
comprehensive
income
$
|
|
|
Preferred
stock
$
|
|
|
Accumulated
deficit
$
|
|
|
Total stockholders'
equity
$
|
|
|
Balance - June 30, 2020
|
|
|
11,458
|
|
|
|
11
|
|
|
|
65,148
|
|
|
|
21
|
|
|
|
4,804
|
|
|
|
(69,721
|
)
|
|
|
263
|
|
|
Adgero merger (note 3)
|
|
|
12,011
|
|
|
|
12
|
|
|
|
16,713
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
16,725
|
|
|
Issuance of Series C Preferred stock
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
25,028
|
|
|
|
—
|
|
|
|
25,028
|
|
|
Series C placement agent warrants
|
|
|
—
|
|
|
|
—
|
|
|
|
3,287
|
|
|
|
—
|
|
|
|
(3,287
|
)
|
|
|
—
|
|
|
|
—
|
|
|
Series C Preferred stock share issuance costs
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(3,386
|
)
|
|
|
—
|
|
|
|
(3,386
|
)
|
|
Deemed dividend recognized on beneficial
conversion features of Series C Preferred
stock
issuance
|
|
|
—
|
|
|
|
—
|
|
|
|
3,181
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(3,181
|
)
|
|
|
—
|
|
|
Exercise of warrants
|
|
|
993
|
|
|
|
1
|
|
|
|
993
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
994
|
|
|
Warrants issued for services
|
|
|
—
|
|
|
|
—
|
|
|
|
45
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
45
|
|
|
Stock option expense
|
|
|
—
|
|
|
|
—
|
|
|
|
405
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
405
|
|
|
Series A Preferred cash dividend
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(2
|
)
|
|
|
(2
|
)
|
|
Series B Preferred stock dividend
|
|
|
4
|
|
|
|
—
|
|
|
|
5
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(5
|
)
|
|
|
—
|
|
|
Loss for the period
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(19,518
|
)
|
|
|
(19,518
|
)
|
|
Balance - September 30, 2020
|
|
|
24,466
|
|
|
|
24
|
|
|
|
89,777
|
|
|
|
21
|
|
|
|
23,159
|
|
|
|
(92,427
|
)
|
|
|
20,554
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series C Preferred stock share issuance costs
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(69
|
)
|
|
|
—
|
|
|
|
(69
|
)
|
|
Conversion of Series B Preferred stock
to common stock
|
|
|
10
|
|
|
|
—
|
|
|
|
268
|
|
|
|
—
|
|
|
|
(268
|
)
|
|
|
—
|
|
|
|
—
|
|
|
Conversion of Series C Preferred stock
to common stock
|
|
|
1,168
|
|
|
|
1
|
|
|
|
987
|
|
|
|
—
|
|
|
|
(988
|
)
|
|
|
—
|
|
|
|
—
|
|
|
Exercise of warrants
|
|
|
186
|
|
|
|
—
|
|
|
|
186
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
186
|
|
|
Warrants issued for services
|
|
|
—
|
|
|
|
—
|
|
|
|
183
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
183
|
|
|
Stock options exercised
|
|
|
35
|
|
|
|
—
|
|
|
|
21
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
21
|
|
|
Stock option expense
|
|
|
—
|
|
|
|
—
|
|
|
|
2,125
|
|
|
|
—
|
|
|
|
—
|
|