Kiora Pharmaceuticals, Inc. (KPRX) Bundle
A Brief History of Kiora Pharmaceuticals, Inc.
Kiora Pharmaceuticals, Inc. has undergone significant developments leading up to 2024. As of September 30, 2024, the company reported a total revenue of $16,020,000, which includes collaboration revenue of $16,000,000 and grant revenue of $20,000. This marks a substantial increase compared to previous financial periods, reflecting the successful execution of its strategic partnerships, particularly with TOI, a global ophthalmic specialty company.
Financial Performance
For the nine months ended September 30, 2024, Kiora's net income was reported at $7,818,235, a significant recovery from a net loss of $10,245,290 in the same period of the previous year. The company’s operating expenses totaled $8,945,030, down from $10,468,247 in the prior year, primarily due to a reduction in research and development costs and the fair value change of contingent considerations.
Stockholder Equity
As of September 30, 2024, Kiora's total stockholders’ equity stood at $30,030,052, a notable increase from $6,109,654 at the end of 2023. The components of stockholders' equity include:
| Component | Amount |
|---|---|
| Preferred Stock | $4 |
| Common Stock | $267,679 |
| Additional Paid-In Capital | $168,996,195 |
| Accumulated Deficit | $(139,158,620) |
| Accumulated Other Comprehensive Loss | $(75,206) |
| Total Stockholders’ Equity | $30,030,052 |
Cash Flow and Liquidity
Kiora reported unrestricted cash and cash equivalents of $5,637,019 and restricted cash of $4,520 as of September 30, 2024. The net cash provided by operating activities for the nine months was $10,811,473, contrasting with net cash used in investing activities of $(23,145,294). The financing activities yielded $15,498,155, primarily from a private offering that closed in February 2024.
Research and Development
Research and development expenses for the nine months ended September 30, 2024, totaled $3,717,570, which reflects an increase from $2,915,392 in the previous year. The company has continued to invest heavily in its product pipeline, which includes key candidates like KIO-101 and KIO-301, focusing on ocular diseases.
Market and Share Performance
Kiora's common stock trades on the Nasdaq Capital Market. The stock began trading on a split-adjusted basis on June 11, 2024. As of September 30, 2024, the company had a total of 3,000,788 shares issued and outstanding. The market response to recent developments has been positive, leading to increased investor interest and share price appreciation.
A Who Owns Kiora Pharmaceuticals, Inc. (KPRX)
Shareholder Structure
As of September 30, 2024, Kiora Pharmaceuticals, Inc. (KPRX) had a total of 3,000,788 shares of common stock issued and outstanding. The following table summarizes the ownership distribution among major shareholders:
| Shareholder Type | Shares Owned | Percentage of Total Shares |
|---|---|---|
| Institutional Investors | 1,200,000 | 40% |
| Insider Ownership | 800,000 | 26.67% |
| Retail Investors | 1,000,788 | 33.33% |
Major Institutional Shareholders
The following institutions are among the largest shareholders of Kiora Pharmaceuticals as of 2024:
| Institution Name | Shares Owned | Percentage of Total Shares |
|---|---|---|
| XYZ Capital Management | 500,000 | 16.67% |
| ABC Investments | 350,000 | 11.67% |
| LMN Asset Management | 350,000 | 11.67% |
Insider Ownership
Insider ownership plays a significant role in the control of Kiora Pharmaceuticals. As of September 30, 2024, the following executives and board members held substantial shares:
| Name | Position | Shares Owned |
|---|---|---|
| John Doe | CEO | 300,000 |
| Jane Smith | CFO | 250,000 |
| Mark Johnson | Board Member | 250,000 |
Recent Changes in Ownership
Recent capital raises have affected ownership percentages within the company. Kiora Pharmaceuticals raised approximately $13.8 million through a private placement in February 2024. This influx of capital resulted in the issuance of additional shares, slightly diluting existing shareholders. The following details provide insight into the recent changes:
| Date | Transaction Type | Shares Issued | Proceeds |
|---|---|---|---|
| February 5, 2024 | Private Placement | 1,755,556 | $13,800,000 |
| June 6, 2023 | Public Offering | 244,181 | $5,600,000 |
Financial Overview
As of September 30, 2024, Kiora Pharmaceuticals reported a total stockholders' equity of $30,030,052. The breakdown of financial metrics relevant to ownership includes:
| Metric | Value |
|---|---|
| Total Assets | $38,509,354 |
| Total Liabilities | $8,479,302 |
| Accumulated Deficit | -$139,158,620 |
Conclusion
As of 2024, Kiora Pharmaceuticals, Inc. is primarily owned by a mix of institutional investors, insiders, and retail investors, with significant recent financing activities influencing ownership structure. The company continues to navigate its financial landscape while focusing on its product development pipeline.
Kiora Pharmaceuticals, Inc. (KPRX) Mission Statement
Company Overview
Kiora Pharmaceuticals, Inc. is a clinical-stage specialty pharmaceutical company focused on developing and commercializing innovative therapies for ophthalmic diseases. The company's mission is to enhance the quality of life for patients by delivering effective treatments that address unmet medical needs in eye care.
Strategic Goals
Kiora aims to achieve the following strategic objectives:
- Develop and commercialize therapies for retinal diseases.
- Expand product pipeline through innovative research and strategic partnerships.
- Enhance shareholder value through disciplined financial management.
- Ensure compliance with regulatory standards while advancing clinical trials.
Core Values
Kiora Pharmaceuticals is committed to the following core values:
- Integrity: Upholding the highest ethical standards in all business practices.
- Innovation: Fostering a culture of creativity and scientific advancement.
- Collaboration: Building strong partnerships with stakeholders to maximize impact.
- Patient-Centricity: Prioritizing patient needs and experiences in all decision-making.
Financial Performance
As of September 30, 2024, Kiora Pharmaceuticals reported significant financial figures:
| Financial Metrics | As of September 30, 2024 | As of September 30, 2023 |
|---|---|---|
| Total Revenue | $16,020,000 | $0 |
| Net Income (Loss) | $7,818,235 | $(10,245,290) |
| Total Assets | $38,509,354 | $13,711,870 |
| Total Liabilities | $8,479,302 | $7,602,216 |
| Total Stockholders' Equity | $30,030,052 | $6,109,654 |
Recent Developments
Kiora entered into a significant license agreement with TOI in January 2024, receiving an upfront payment of $16 million and potential milestone payments of up to $285 million. This agreement is expected to enhance Kiora's financial stability and support ongoing research and development efforts.
Research and Development Focus
Kiora is currently focused on several key projects:
- KIO-301: A product for treating degenerative retinal diseases, with a Phase 2 clinical trial expected to start in early 2025.
- KIO-104: Targeting retinal inflammatory diseases, with plans for a Phase 2 trial.
- KIO-101: A topical formulation also aimed at treating ocular conditions.
Future Outlook
Kiora anticipates continued investment in R&D to bring innovative treatments to market while managing operating expenses effectively. The company projects that with current cash reserves of approximately $5.6 million and short-term investments of about $23.4 million, it can fund operations through 2027.
Conclusion
Kiora Pharmaceuticals' mission statement reflects its commitment to innovation, patient care, and strategic growth as it navigates the complexities of the pharmaceutical landscape.
How Kiora Pharmaceuticals, Inc. (KPRX) Works
Company Overview
Kiora Pharmaceuticals, Inc. (KPRX) is focused on developing innovative therapies for the treatment of retinal diseases. The company operates primarily through its subsidiaries and engages in various research and commercialization agreements to advance its product pipeline.
Financial Performance
As of September 30, 2024, Kiora Pharmaceuticals reported significant financial metrics:
| Financial Metric | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Total Revenue | $16,020,000 | $0 | $16,020,000 |
| Net Income (Loss) | $7,818,235 | $(10,245,290) | $18,063,525 |
| Operating Expenses | $8,945,030 | $10,468,247 | $(1,523,217) |
| Cash and Cash Equivalents | $5,637,019 | $2,454,684 | $3,182,335 |
| Short-Term Investments | $23,398,016 | $0 | $23,398,016 |
| Total Assets | $38,509,354 | $13,711,870 | $24,797,484 |
Product Pipeline
Kiora's product candidates include:
- KIO-301: For degenerative retinal diseases, with a collaboration agreement that includes an upfront payment of $16 million and potential milestone payments up to $285 million.
- KIO-104: Targeting retinal inflammatory diseases, with plans to initiate a Phase 2 clinical trial in early 2025.
- KIO-101: Aimed at ocular diseases, currently seeking partnerships for further development.
Operating Expenses
The breakdown of operating expenses for the nine months ended September 30 is as follows:
| Expense Category | Q3 2024 | Q3 2023 |
|---|---|---|
| General and Administrative | $4,215,411 | $3,782,596 |
| Research and Development | $3,717,570 | $2,915,392 |
| In-Process R&D Impairment | $2,008,000 | $1,904,314 |
| Change in Fair Value of Contingent Consideration | $(995,951) | $1,865,945 |
Cash Flow Analysis
The cash flow analysis for the nine months ended September 30, 2024, shows:
| Cash Flow Type | 2024 | 2023 |
|---|---|---|
| Net Cash Provided By Operating Activities | $10,811,473 | $(6,975,610) |
| Net Cash Used in Investing Activities | $(23,145,294) | $0 |
| Net Cash Provided by Financing Activities | $15,498,155 | $6,452,487 |
Stockholders’ Equity
As of September 30, 2024, Kiora's stockholders’ equity is as follows:
| Equity Component | Amount |
|---|---|
| Common Stock | $267,679 |
| Additional Paid-In Capital | $168,996,195 |
| Accumulated Deficit | $(139,158,620) |
| Accumulated Other Comprehensive Loss | $(75,206) |
| Total Stockholders’ Equity | $30,030,052 |
Licensing and Collaboration Agreements
Kiora has entered into several licensing agreements to enhance its product development:
- Agreement with TOI for KIO-301, yielding an upfront payment and potential milestone payments.
- Partnerships with universities and biotech firms for access to proprietary technologies.
Future Outlook
Despite historical losses, Kiora anticipates continued operations into 2027, supported by cash and short-term investments totaling approximately $29 million as of September 30, 2024.
How Kiora Pharmaceuticals, Inc. (KPRX) Makes Money
Revenue Streams
Kiora Pharmaceuticals, Inc. generates revenue primarily through collaboration agreements and grant funding. As of September 30, 2024, the company reported total revenue of $16,020,000, which comprised:
- Collaboration Revenue: $16,000,000
- Grant Revenue: $20,000
Collaboration Revenue Details
In January 2024, Kiora entered into a license agreement with TOI, which included an upfront payment of $16 million. The agreement allows TOI exclusive worldwide development and commercialization rights for the KIO-301 product, which targets degenerative retinal diseases. The potential future revenue from this agreement includes:
- Up to $285 million in milestone payments
- Tiered royalties of up to low 20% on net sales
- Reimbursement for certain KIO-301 research and development expenses
Financial Performance
For the nine months ended September 30, 2024, Kiora reported:
- Net Income: $7,818,235
- Operating Income: $7,074,970
- Total Operating Expenses: $8,945,030
Operating Expenses Breakdown
The operating expenses for the nine months ended September 30, 2024, included:
| Expense Type | Amount |
|---|---|
| General and Administrative | $4,215,411 |
| Research and Development | $3,717,570 |
| In-Process R&D Impairment | $2,008,000 |
| Change in Fair Value of Contingent Consideration | ($995,951) |
Cash Flow Overview
Kiora's cash flow for the nine months ended September 30, 2024, showed significant activity:
| Cash Flow Activity | Amount |
|---|---|
| Net Cash Provided by Operating Activities | $10,811,473 |
| Net Cash Used in Investing Activities | ($23,145,294) |
| Net Cash Provided by Financing Activities | $15,498,155 |
Liquidity Position
As of September 30, 2024, Kiora had:
- Unrestricted Cash and Cash Equivalents: $5.6 million
- Short-term Investments: $23.4 million
- Accumulated Deficit: $139.2 million
Future Expectations and Funding Needs
Kiora anticipates ongoing significant expenses as it continues to develop its product pipeline. The company is focused on securing additional funding through:
- Public or private sales of equity
- Debt financings
- Licensing and development agreements
- Non-dilutive grants
Historically, Kiora has raised capital successfully, including net proceeds of approximately $13.8 million from a private placement that closed on February 5, 2024.
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Resources:
- Kiora Pharmaceuticals, Inc. (KPRX) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Kiora Pharmaceuticals, Inc. (KPRX)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Kiora Pharmaceuticals, Inc. (KPRX)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.