Novan, inc. (NOVN)
Balance Sheet / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Dec'15
ASSETS
Current assets:
Cash and cash equivalents

21,785

13,711

15,549

22,438

6,077

8,194

12,173

20,984

28,100

2,524

10,960

19,067

30,088

34,611

55,664

45,688

Contracts and grants receivable

189

419

216

0

0

0

-

-

-

-

-

-

-

-

-

-

Deferred offering costs

58

49

49

49

49

49

49

49

49

297

-

-

-

-

-

309

Prepaid expenses and other current assets

1,420

1,545

982

1,237

1,062

1,107

584

576

889

883

580

629

1,029

958

457

936

Total current assets

23,452

15,724

22,447

32,010

7,188

9,350

12,806

21,609

29,038

3,704

11,540

19,696

31,117

35,569

56,121

46,933

Restricted cash

539

540

1,345

2,060

539

539

539

539

539

539

539

539

539

539

539

539

Intangible assets

75

75

75

75

75

75

75

75

75

75

75

75

75

75

75

-

Other assets

387

419

444

473

501

530

146

161

176

192

206

213

295

-

-

-

Property, Plant and Equipment, Net

10,231

10,506

10,569

11,054

11,657

15,868

16,129

16,327

16,474

16,624

16,738

16,938

16,546

16,290

13,698

2,344

Right-of-use lease assets

1,826

1,833

1,837

1,837

1,833

0

-

-

-

-

-

-

-

-

-

-

Total assets

36,510

29,097

36,717

47,509

21,793

26,362

29,695

38,711

46,302

21,134

29,098

37,461

48,572

52,473

70,433

49,816

Current liabilities:
Accounts payable

997

1,602

2,495

957

1,510

1,250

386

1,056

828

479

937

1,351

2,002

3,130

5,024

1,626

Accrued compensation

1,107

437

1,507

1,412

2,082

1,467

1,689

1,380

977

2,168

2,195

2,007

1,608

2,305

1,896

1,047

Accrued outside research and development services

1,928

1,013

1,382

789

817

563

1,571

1,408

1,258

1,392

1,176

1,822

2,715

5,737

9,877

1,088

Accrued legal and professional fees

173

616

168

295

258

498

305

267

458

504

369

440

772

382

1,038

512

Other accrued expenses

428

553

878

633

516

871

1,247

1,443

1,194

1,700

1,595

1,950

1,992

1,813

1,388

534

Deferred revenue, current portion

4,401

4,428

4,401

4,401

4,401

4,401

2,595

2,595

2,638

2,631

-

-

-

-

-

-

Research and development service obligation liability, current portion

1,566

3,088

5,651

8,286

0

0

-

-

-

-

-

-

-

-

-

-

Lease liabilities, current portion

1,167

1,162

1,156

1,151

1,139

11

11

11

11

-

-

-

-

-

-

-

Deferred revenue, current portion

-

-

-

-

-

-

-

-

-

-

2,141

2,406

2,403

-

-

-

Deferred rent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

25

Capital lease obligation, current portion

-

-

-

-

-

-

-

-

-

11

11

10

10

10

10

6

Current liabilities of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

257

Total current liabilities

11,767

12,899

17,638

17,924

10,723

9,061

7,804

8,160

7,364

8,885

8,424

9,986

11,502

13,377

19,233

5,095

Deferred revenue, net of current portion

5,960

7,076

3,725

4,825

5,926

2,566

4,000

4,648

5,294

5,946

-

-

-

-

-

-

Lease liabilities, net of current portion

4,947

5,100

5,249

5,395

5,544

10

13

16

19

-

-

-

-

-

-

-

Deferred revenue, net of current portion

-

-

-

-

-

-

-

-

-

-

7,451

7,709

8,310

-

-

-

Capital lease obligation, net of current portion

-

-

-

-

-

-

-

-

-

21

24

27

30

32

34

4

Warrant liability

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

Research and development service obligation liability, net of current portion

736

727

806

1,521

0

0

-

-

-

-

-

-

-

-

-

-

Research and development funding arrangement liability, related party

25,000

25,000

25,000

25,000

0

0

-

-

-

-

-

-

-

-

-

-

Other long-term liabilities

460

578

1,634

1,630

335

289

103

0

0

0

-

-

-

-

-

-

Facility financing obligation

-

0

-

-

-

7,998

7,998

7,998

7,998

7,998

7,998

7,998

7,998

7,998

7,752

-

Total liabilities

48,870

51,380

54,052

56,295

22,528

19,924

19,918

20,822

20,675

22,850

23,897

25,720

27,840

21,407

27,019

5,099

Commitments and contingencies (Note 8)

-

-

-

-

-

-

-

-

-

-

0

0

0

0

0

0

Stockholders’ deficit
Preferred stock $0.0001 par value; 10,000,000 shares designated as of September 30, 2018 and December 31, 2017; 0 shares issued and outstanding as of September 30, 2018 and December 31, 2017

-

-

-

-

-

-

-

-

-

-

0

0

0

0

0

0

Common stock $0.0001 par value; 200,000,000 shares authorized as of March 31, 2020 and December 31, 2019; 72,028,562 and 26,744,300 shares issued as of March 31, 2020 and December 31, 2019, respectively; 72,019,062 and 26,734,800 shares outstanding as of March 31, 2020 and December 31, 2019, respectively

7

3

3

3

3

3

3

3

3

2

2

2

2

2

2

-

Additional paid-in capital

213,939

197,853

196,853

195,906

195,661

195,483

195,142

194,759

194,208

158,091

157,325

156,421

155,525

154,252

153,539

3,253

Treasury stock at cost, 9,500 shares as of March 31, 2020 and December 31, 2019

155

155

155

155

155

155

155

155

155

155

155

155

155

155

155

-

Retained Earnings (Accumulated Deficit)

-226,151

-219,984

-214,036

-204,540

-196,244

-188,893

-185,213

-176,718

-168,429

-159,654

-151,971

-144,527

-134,640

-123,033

-109,972

-63,334

Stockholders' Equity Attributable to Parent

-12,360

-22,283

-17,335

-8,786

-735

6,438

9,777

17,889

25,627

-1,716

5,201

11,741

20,732

31,066

43,414

-60,081

Total liabilities and stockholders’ deficit

36,510

29,097

36,717

47,509

21,793

26,362

29,695

38,711

46,302

21,134

29,098

37,461

48,572

52,473

70,433

49,816