Stealth BioTherapeutics Reports First Half 2019 Financial Results And Recent Business Highlights

Thursday, August 15, 2019 General News
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- Louis Lange M.D., Ph.D. joins Board

STEALTH BIOTHERAPEUTICS CORP

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)

June 30,

December 31, 

2019

2018

Assets

Current assets:

Cash and cash equivalents

$       53,200

$       10,855

Prepaid expenses and other current assets

1,408

2,438

Total current assets

54,608

13,293

Property and equipment, net

437

499

Deferred offering costs

-

1,325

Other non-current assets

250

406

Total assets

$       55,295

$       15,523

Liabilities, convertible preferred shares and shareholders' equity (deficit)

Current liabilities:

Accounts payable

$         8,970

$       11,023

Accrued expenses and other current liabilities

9,264

13,826

Accrued interest payable

1,013

7,297

Current portion of long-term debt

6,437

8,465

Total current liabilities

25,684

40,611

Long-term debt, less current portion

10,326

10,317

Convertible notes payable

103,257

Derivative liability

36,567

Warrant liability

100

Total liabilities

36,010

190,852

Series A convertible preferred shares

211,377

Total shareholders' equity (deficit)

19,285

(386,706)

Total liabilities, convertible preferred shares and shareholders' equity (deficit)

$       55,295

$       15,523



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