Sonnet BioTherapeutics Holdings, Inc. (SONN) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
100 OVERLOOK CENTER PRINCETON, NJ 08540 |
| State of Incorp. | DE |
| Fiscal Year End | September 30 |
| Industry (SIC) | 2834 - Pharmaceutical Preparations (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 12/31/2023 MRQ | 9/30/2023 | 12/31/2022 MRQ | 9/30/2022 | 9/30/2021 | 9/30/2020 | 12/31/2019 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 4,574 | 1,701 | 3,053 | 27,622 | 7,350 | 501 | |||
| Cash and cash equivalents | 4,574 | 1,701 | 3,053 | 27,622 | 7,350 | 501 | |||
| Inventory, net of allowances, customer advances and progress billings | 287 | ||||||||
| Inventory | 287 | ||||||||
| Other undisclosed current assets | 164 | 2,897 | 2,361 | 1,189 | 288 | 382 | |||
| Total current assets: | 4,738 | 4,598 | 5,414 | 28,812 | 7,638 | 1,170 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 194 | 241 | 257 | 123 | 206 | 11,668 | |||
| Property, plant and equipment | 33 | 43 | 46 | 59 | 68 | 5,630 | |||
| Intangible assets, net (including goodwill) | 12,225 | ||||||||
| Goodwill | 8,568 | ||||||||
| Intangible assets, net (excluding goodwill) | 3,657 | ||||||||
| Deposits noncurrent assets | 309 | ||||||||
| Disposal group, including discontinued operation, noncurrent assets | 149 | ||||||||
| Deferred costs | 50 | 60 | 113 | ||||||
| Other noncurrent assets | 414 | 83 | |||||||
| Other undisclosed noncurrent assets | 381 | ||||||||
| Total noncurrent assets: | 691 | 345 | 416 | 182 | 357 | 30,363 | |||
| TOTAL ASSETS: | 5,429 | 4,943 | 5,830 | 28,994 | 7,994 | 31,533 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 2,429 | 8,112 | 7,946 | 6,092 | 4,121 | 8,165 | |||
| Interest and dividends payable | ✕ | ✕ | ✕ | ✕ | 617 | ||||
| Taxes payable | ✕ | ✕ | ✕ | ✕ | 3,318 | ||||
| Accounts payable | 2,202 | 4,574 | 4,752 | 3,781 | 2,058 | 4,231 | |||
| Accrued liabilities | 227 | 3,538 | 3,194 | 2,310 | 2,064 | ||||
| Deferred revenue | 19 | 129 | 166 | 516 | 500 | ||||
| Debt | 9,930 | ||||||||
| Due to related parties | ✕ | ✕ | 1 | 1 | 1 | 21 | |||
| Other undisclosed current liabilities | 3,077 | 51 | 51 | 95 | 82 | ||||
| Total current liabilities: | 5,525 | 8,293 | 8,165 | 6,703 | 4,724 | 18,095 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 204 | 31 | 250 | 14,382 | |||||
| Long-term debt, excluding current maturities | 125 | ||||||||
| Liabilities, other than long-term debt | 131 | 187 | 1,497 | ||||||
| Deferred revenue | 959 | ||||||||
| Deferred income tax liabilities | 102 | ||||||||
| Disposal group, including discontinued operation, liabilities | 436 | ||||||||
| Operating lease, liability | 131 | 187 | 204 | 31 | 125 | 14,382 | |||
| Other undisclosed noncurrent liabilities | (204) | (31) | (125) | 710 | |||||
| Total noncurrent liabilities: | 131 | 187 | 204 | 31 | 250 | 16,589 | |||
| Total liabilities: | 5,655 | 8,480 | 8,369 | 6,734 | 4,974 | 34,685 | |||
| Temporary equity, carrying amount | 710 | ||||||||
| Equity | |||||||||
| Equity, attributable to parent | (226) | (3,537) | (2,539) | 22,260 | 3,020 | (3,608) | |||
| Common stock | 0 | 1 | 1 | 6 | 1 | 1 | |||
| Additional paid in capital | 110,018 | 93,415 | 88,872 | 83,943 | 39,724 | 71,506 | |||
| Accumulated other comprehensive loss | (46) | ||||||||
| Accumulated deficit | (110,244) | (96,953) | (91,411) | (61,689) | (36,705) | (75,068) | |||
| Equity, attributable to noncontrolling interest | 456 | ||||||||
| Total equity: | (226) | (3,537) | (2,539) | 22,260 | 3,020 | (3,152) | |||
| Other undisclosed liabilities and equity | (710) | ||||||||
| TOTAL LIABILITIES AND EQUITY: | 5,429 | 4,943 | 5,830 | 28,994 | 7,994 | 31,533 | |||
Income Statement (P&L) ($ in thousands)
| 12/31/2023 TTM | 9/30/2023 | 12/31/2022 TTM | 9/30/2022 | 9/30/2021 | 9/30/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 148 | 257 | 350 | 484 | 30,143 | |||
| Other income | 126 | |||||||
| Cost of revenue | (26,815) | |||||||
| Gross profit: | 148 | 257 | 350 | 484 | 3,328 | |||
| Operating expenses | (18,940) | (29,324) | (30,019) | (25,571) | (17,411) | (19,406) | ||
| Other undisclosed operating loss | (6,826) | |||||||
| Operating loss: | (18,793) | (29,067) | (29,669) | (25,087) | (24,238) | (16,078) | ||
| Nonoperating income (expense) | (40) | 4 | (52) | (22) | (48) | (1,291) | ||
| Gain (loss), foreign currency transaction, before tax | (40) | 4 | (52) | (22) | (48) | |||
| Other nonoperating expense | (618) | |||||||
| Interest and debt expense | (674) | |||||||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 674 | |||||||
| Loss from continuing operations before income taxes: | (18,833) | (29,063) | (29,722) | (25,109) | (24,286) | (17,370) | ||
| Income tax expense | (74) | |||||||
| Loss from continuing operations: | (18,833) | (29,063) | (29,722) | (25,109) | (24,286) | (17,443) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | (23,521) | (29,722) | (25,109) | (24,286) | (18,465) | |
| Loss from discontinued operations | (1,022) | |||||||
| Net loss: | (18,833) | (29,063) | (29,722) | (25,109) | (24,286) | (18,465) | ||
| Net income attributable to noncontrolling interest | 402 | |||||||
| Other undisclosed net income attributable to parent | 126 | 21 | 336 | |||||
| Net loss attributable to parent: | (18,833) | (29,063) | (29,722) | (24,984) | (24,265) | (17,726) | ||
| Preferred stock dividends and other adjustments | (112) | |||||||
| Other undisclosed net loss available to common stockholders, basic | (41,339) | |||||||
| Net loss available to common stockholders, diluted: | (18,833) | (29,063) | (29,722) | (24,984) | (65,604) | (17,839) | ||
Comprehensive Income ($ in thousands)
| 12/31/2023 TTM | 9/30/2023 | 12/31/2022 TTM | 9/30/2022 | 9/30/2021 | 9/30/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (18,833) | (29,063) | (29,722) | (25,109) | (24,286) | (18,465) | ||
| Comprehensive loss: | (18,833) | (29,063) | (29,722) | (25,109) | (24,286) | (18,465) | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 402 | |||||||
| Other undisclosed comprehensive income, net of tax, attributable to parent | 492 | |||||||
| Comprehensive loss, net of tax, attributable to parent: | (18,833) | (29,063) | (29,722) | (25,109) | (24,286) | (17,571) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.