Innovate Biopharmaceuticals, Inc. (INNT) financial statements (2021 and earlier)

Company profile

Business Address 8480 HONEYCUTT ROAD
RALEIGH, NC 27615
State of Incorp. DE
Fiscal Year End December 31
SIC 2834 - Pharmaceutical Preparations (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments5601
Cash and cash equivalents5601
Receivables  01
Inventory, net of allowances, customer advances and progress billings  01
Inventory  01
Deferred costs 0  
Other undisclosed current assets1101
Total current assets:5614
Noncurrent Assets
Operating lease, right-of-use asset0
Property, plant and equipment00  
Intangible assets, net (including goodwill)   2
Intangible assets, net (excluding goodwill)   2
Deposits noncurrent assets  00
Other noncurrent assets00  
Total noncurrent assets:0002
TOTAL ASSETS:5616
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities9512
Accounts payable4400
Accrued liabilities5112
Interest and dividends payable 0  
Debt35 0
Deferred compensation liability0   
Derivative instruments and hedges, liabilities00  
Due to related parties  00
Customer refund liability  02
Other undisclosed current liabilities3 1 
Total current liabilities:151034
Noncurrent Liabilities
Total liabilities:151034
Stockholders' equity
Stockholders' equity attributable to parent(10)(4)(2)2
Common stock0000
Additional paid in capital61403835
Accumulated deficit(71)(44)(40)(32)
Total stockholders' equity:(10)(4)(2)2
TOTAL LIABILITIES AND EQUITY:5616

Income statement (P&L) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues
(Revenue, Net)
  24
Cost of revenue
(Cost of Goods and Services Sold)
  (2)(3)
Gross profit:  (0)1
Operating expenses(26)(18)(9)(7)
Other undisclosed operating income5136  
Operating income (loss):2618(9)(6)
Nonoperating income (expense)(2)(6)1 
Interest and debt expense(1)(6)0(1)
Income (loss) from continuing operations before equity method investments, income taxes:236(8)(7)
Other undisclosed income (loss) from continuing operations before income taxes(50)(30)(0)1
Loss from continuing operations before income taxes:(27)(24)(8)(6)
Income tax expense   (0)
Net loss attributable to parent:(27)(24)(8)(6)
Other undisclosed net loss available to common stockholders, basic  (1) 
Net loss available to common stockholders, diluted:(27)(24)(9)(6)

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net loss:(27)(24)(8)(6)
Comprehensive loss, net of tax, attributable to parent:(27)(24)(8)(6)

Statements sources

The financial statements are based on the company's filings with the 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.

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