☒ | Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
☐ | Transition Report under Section 13 or 15(d) of the Securities Exchange Act of 1934 |
Delaware | ||
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
3940 Trust Way Hayward, California | 94545 | |
(Address of principal executive offices) | (Zip Code) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||
Common Stock, par value $0.0001 | BNTC | The Nasdaq Stock Market LLC |
Large Accelerated Filer | ☐ | Accelerated Filer | ☐ | |||
Non-Accelerated Filer | ☒ | Smaller Reporting Company | ☒ | |||
Emerging Growth Company | ☐ |
Page | ||||||
PART I | ||||||
Item 1. | 3 | |||||
Item 1A. | ||||||
Item 1B. | ||||||
Item 2. | ||||||
Item 3. | ||||||
Item 4. | ||||||
PART II | ||||||
Item 5. | ||||||
Item 6. | ||||||
Item 7. | ||||||
Item 7A. | ||||||
Item 8. | F-1 | |||||
Item 9. | ||||||
Item 9A. | ||||||
Item 9B. | 97 | |||||
Item 9C. | 97 | |||||
PART III | ||||||
Item 10. | III-1 | |||||
Item 11. | III-5 | |||||
Item 12. | III-11 | |||||
Item 13. | ||||||
Item 14. | ||||||
PART IV | ||||||
Item 15. | IV-1 | |||||
Item 16. | ||||||
Item 1. | Business. |
Application or | ||||||
Country or Territory | Status | |||||
USA | BENITEC BIOPHARMA | 86190065 | Registered | |||
USA | SILENCING GENES FOR LIFE | 86488147 | Registered | |||
Australia | SILENCING GENES FOR LIFE | 1448041 | Registered | |||
Australia | BENITEC BIOPHARMA | 1448046 | Registered | |||
Australia | 1448052 | Registered | ||||
Australia | Nervarna | 1526478 | Registered | |||
Australia | TRIBETARNA | 1526479 | Registered | |||
Australia | HEPBARNA | 1526483 | Registered | |||
International Bureau (WIPO) – designating EU; UK and US | GIVING DISEASE THE SILENT TREATMENT | 1389399 | Registered | |||
USA | BENITEC | 86795296 | Registered | |||
USA | GIVING DISEASE THE SILENT TREATMENT | 79226988 | Registered | |||
European Union | BENITEC | 14680003 | Registered | |||
Australia | BENITEC | 1728797 | Registered | |||
Australia | BENITEC | 1103049 | Registered | |||
Australia | BENITEC | 1103300 | Registered | |||
Australia | GIVING DISEASE THE SILENT TREATMENT | 1851660 | Registered | |||
United Kingdom | BENITEC | 3238275 | Registered |
launching and commercializing any product candidates for which we obtain regulatory and marketing approval, either by collaborating with a partner or, if launched independently, by establishing a sales, marketing and distribution infrastructure; |
require biopharmaceutical or biotechnology manufacturers to report information related to payments and other transfers of value to physicians and other healthcare providers or marketing expenditures; and state and foreign laws governing the privacy and security of health information in certain circumstances, many of which differ from each other in significant ways and often are not preempted by HIPAA, thus complicating compliance efforts. |
Year Ended June 30, | Year Ended June 30, | |||||||||||||||
2021 | 2020 | 2022 | 2021 | |||||||||||||
(US$’000) | (US$’000) | |||||||||||||||
Revenues: | ||||||||||||||||
Revenues from customers | $ | 59 | $ | 97 | $ | 73 | $ | 59 | ||||||||
Government research and development grants | — | 5 | ||||||||||||||
Total revenues | $ | 59 | $ | 102 | $ | 73 | $ | 59 | ||||||||
Year Ended June 30, | Year Ended June 30, | |||||||||||||||
2021 | 2020 | 2022 | 2021 | |||||||||||||
(US$’000) | (US$’000) | |||||||||||||||
Expenses: | ||||||||||||||||
Royalties and license fees | $ | 123 | $ | (185 | ) | $ | 9 | $ | 123 | |||||||
Research and development | 7,020 | 3,001 | ||||||||||||||
Research and Development | 11,272 | 7,020 | ||||||||||||||
General and Administrative | 6,512 | 5,567 | 6,646 | 6,512 | ||||||||||||
Total expenses | 13,655 | 8,383 | 17,927 | 13.655 | ||||||||||||
Year Ended June 30, | Year Ended June 30, | |||||||||||||||
2021 | 2020 | 2022 | 2021 | |||||||||||||
(US$’000) | (US$’000) | |||||||||||||||
Other Income (Loss): | ||||||||||||||||
Foreign currency transaction loss | (333 | ) | (88 | ) | (232 | ) | (333 | ) | ||||||||
Interest income (expense), net | (6 | ) | 62 | |||||||||||||
Other income, net | 37 | 34 | ||||||||||||||
Interest expense, net | (32 | ) | (6 | ) | ||||||||||||
Other income (expense), net | (79 | ) | 37 | |||||||||||||
Unrealized gain (loss) on investment | 16 | (1 | ) | (11 | ) | 16 | ||||||||||
Total other income (loss) | (286 | ) | 7 | |||||||||||||
Total other loss, net | (354 | ) | (286 | ) | ||||||||||||
Year Ended June 30, | Year Ended June 30, | |||||||||||||||
2021 | 2020 | 2022 | 2021 | |||||||||||||
(US$’000) | (US$’000) | |||||||||||||||
Net cash provided by (used in): | ||||||||||||||||
Operating activities | $ | (12,832 | ) | $ | (7,535 | ) | $ | (15,899 | ) | $ | (12,832 | ) | ||||
Investing activities | (221 | ) | (94 | ) | (13 | ) | (221 | ) | ||||||||
Financing activities | 22,522 | 1,770 | — | 22,522 | ||||||||||||
Effects of exchange rate changes on cash, cash equivalents, and restricted cash | 204 | 499 | ||||||||||||||
Net increase (decrease) in cash | $ | 9,469 | $ | (5,859 | ) | |||||||||||
Net increase (decrease) in cash, cash equivalents, and restricted cash | $ | (15,708 | ) | $ | 9,968 | |||||||||||
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. None. Item 9A. Controls and Procedures. Evaluation of Disclosure Controls and Procedures Our management, with the participation of our principal executive officer and principal financial officer, evaluated the effectiveness of our disclosure controls and procedures pursuant to Rule 13a-15 under the Securities Exchange Act of 1934, as of June 30, 2022. In designing and evaluating our disclosure controls and procedures, our management recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving their objectives, and our management necessarily applied its judgment in evaluating the cost-benefit relationship of possible controls and procedures. Based on this evaluation, our principal executive officer and principal financial officer concluded that, as of June 30, 2022, our disclosure controls and procedures were effective to provide reasonable assurance that information we are required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure. Changes in Internal Control Over Financial Reporting Our management, including our principal executive and principal financial officer, has evaluated any changes in our internal control over financial reporting that occurred during the three months ended June 30, 2022, and has concluded that there was no change that occurred during the three months ended June 30, 2022 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting. Management’s Report on Internal Control over Financial Reporting Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Rule 13a-15(f) under the Exchange Act. Our management, with the participation of our principal executive and principal financial officer, conducted an evaluation of the effectiveness of our internal control over financial reporting based on the framework in Internal Control – Integrated Framework (2013) Limitations on Effectiveness of Controls and Procedures In designing and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. In addition, the design of disclosure controls and procedures must reflect the fact that there are resource constraints and that management is required to apply its judgment in evaluating the benefits of possible controls and procedures relative to their costs. We are a non-accelerated filer, and therefore our independent registered public accounting firm has not and is not required to issue issued a report on the effectiveness of internal control over financial reporting. Item 9B. Other Information. None. Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. None. 97 |
F-2 | ||||
F-4 | ||||
F-5 | ||||
F-6 | ||||
F-7 | ||||
F-8 |
June 30, 2021 | June 30, 2020 | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 19,769 | $ | 9,801 | ||||
Trade and other receivables | 25 | 59 | ||||||
Prepaid and other assets | 814 | 949 | ||||||
Total current assets | 20,608 | 10,809 | ||||||
Property and equipment, net | 375 | 374 | ||||||
Deposits | 9 | 9 | ||||||
Other assets | 185 | — | ||||||
Right-of-use | 202 | 395 | ||||||
Total assets | $ | 21,379 | $ | 11,587 | ||||
Liabilities and Stockholders’ Equity | ||||||||
Current liabilities: | ||||||||
Trade and other payables | $ | 880 | $ | 741 | ||||
Accrued employee benefits | 276 | 203 | ||||||
Lease liabilities, current portion | 213 | 192 | ||||||
Total current liabilities | 1,369 | 1,136 | ||||||
Lease liabilities, less current portion | — | 213 | ||||||
Total liabilities | 1,369 | 1,349 | ||||||
Commitments and contingencies (Note 12) | 0 | 0 | ||||||
Stockholders’ equity: | ||||||||
Common stock, $0.0001 par value—10,000,000 shares authorized; 8,171,690 and 1,108,374 shares issued and outstanding at June 30, 2021 and 2020, respectively | 1 | 0 | ||||||
Additional paid-in capital | 151,583 | 128,827 | ||||||
Accumulated deficit | (130,119 | ) | (116,636 | ) | ||||
Accumulated other comprehensive loss | (1,455 | ) | (1,953 | ) | ||||
Total stockholders’ equity | 20,010 | 10,238 | ||||||
Total liabilities and stockholders’ equity | $ | 21,379 | $ | 11,587 | ||||
Year Ended June 30, | ||||||||
2021 | 2020 | |||||||
Revenue: | ||||||||
Revenues from customers | $ | 59 | $ | 97 | ||||
Government research and development grants | — | 5 | ||||||
Total revenues | 59 | 102 | ||||||
Operating expenses | ||||||||
Royalties and license fees | 123 | (185 | ) | |||||
Research and development | 7,020 | 3,001 | ||||||
General and administrative | 6,512 | 5,567 | ||||||
Total operating expenses | 13,655 | 8,383 | ||||||
Loss from operations | (13,596 | ) | (8,281 | ) | ||||
Other income (loss): | ||||||||
Foreign currency transaction loss | (333 | ) | (88 | ) | ||||
Interest income (expense), net | (6 | ) | 62 | |||||
Other income, net | 37 | 34 | ||||||
Unrealized gain (loss) on investment | 16 | (1 | ) | |||||
Total other income (loss), net | (286 | ) | 7 | |||||
Net loss | $ | (13,882 | ) | $ | (8,274 | ) | ||
Other comprehensive income (loss): | ||||||||
Unrealized foreign currency translation gain (loss) | 498 | (89 | ) | |||||
Total other comprehensive income (loss) | 498 | (89 | ) | |||||
Total comprehensive loss | $ | (13,384 | ) | $ | (8,363 | ) | ||
Net loss | $ | (13,882 | ) | $ | (8,274 | ) | ||
Net loss per share: | ||||||||
Basic and diluted | $ | (3.23 | ) | $ | (8.10 | ) | ||
Weighted-average shares outstanding: | ||||||||
Basic and diluted | 4,295,416 | 1,021,193 | ||||||
June 30, 2022 | June 30, 2021 | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 4,062 | $ | 19,769 | ||||
Restricted Cash | 14 | 15 | ||||||
Trade and other receivables | 3 | 25 | ||||||
Prepaid and other assets | 741 | 799 | ||||||
Total current assets | 4,820 | 20,608 | ||||||
Property and equipment, net | 222 | 375 | ||||||
Deposits | 25 | 9 | ||||||
Other assets | 135 | 185 | ||||||
Right-of-use assets | 771 | 202 | ||||||
Total assets | $ | 5,973 | $ | 21,379 | ||||
Liabilities and Stockholders’ Equity | ||||||||
Current liabilities: | ||||||||
Trade and other payables | $ | 1,880 | $ | 880 | ||||
Accrued employee benefits | 400 | 276 | ||||||
Lease liabilities, current portion | 252 | 213 | ||||||
Total current liabilities | 2,532 | 1,369 | ||||||
Lease liabilities, less current portion | 559 | — | ||||||
Total liabilities | 3,091 | 1,369 | ||||||
Commitments and contingencies (Note 12) | ||||||||
Stockholders’ equity: | ||||||||
Common stock, $0.0001 par value—40,000,000 shares authorized; 8,171,690 shares issued and outstanding at June 30, 2022 and 2021 | 1 | 1 | ||||||
Additional paid-in capital | 152,453 | 151,583 | ||||||
Accumulated deficit | (148,327 | ) | (130,119 | ) | ||||
Accumulated other comprehensive loss | (1,245 | ) | (1,455 | ) | ||||
Total stockholders’ equity | 2,882 | 20,010 | ||||||
Total liabilities and stockholders’ equity | $ | 5,973 | $ | 21,379 | ||||
Common Stock | Additional Paid-in Capital | Accumulated Deficit | Accumulated Other Comprehensive Loss | Total Stockholders’ Equity | ||||||||||||||||||||
Shares | Amount | |||||||||||||||||||||||
Balance at June 30, 2019 | 856,765 | $ | 0 | $ | 127,328 | $ | (108,870 | ) | $ | (1,864 | ) | $ | 16,594 | |||||||||||
Common stock sold for cash, net of offering costs $240 | 186,666 | — | 1,720 | — | — | 1,720 | ||||||||||||||||||
Issuance and exercise of pre-funded warrants, net of transaction costs of $240 | 27,526 | — | 50 | — | — | 50 | ||||||||||||||||||
Cashless exercise of purchase warrants | 37,417 | — | — | — | — | — | ||||||||||||||||||
Share-based compensation | — | — | 237 | — | — | 237 | ||||||||||||||||||
Forfeitures of share-based payments | — | — | (508 | ) | 508 | — | — | |||||||||||||||||
Foreign currency translation loss | — | — | — | — | (89 | ) | (89 | ) | ||||||||||||||||
Net loss | — | — | — | (8,274 | ) | — | (8,274 | ) | ||||||||||||||||
Balance at June 30, 2020 | 1,108,374 | $ | 0 | $ | 128,827 | $ | (116,636 | ) | $ | (1,953 | ) | $ | 10,238 | |||||||||||
Common stock sold for cash, net of offering costs of $3,228 | 6,504,154 | 1 | 22,518 | — | — | 22,519 | ||||||||||||||||||
Exercise of pre-funded warrants | 559,162 | — | 3 | — | — | 3 | ||||||||||||||||||
Share-based compensation | — | — | 634 | — | — | 634 | ||||||||||||||||||
Forfeitures of share-based payments | — | — | (399 | ) | 399 | — | — | |||||||||||||||||
Foreign currency translation gain | — | — | — | — | 498 | 498 | ||||||||||||||||||
Net loss | — | — | — | (13,882 | ) | — | (13,882 | ) | ||||||||||||||||
Balance at June 30, 2021 | 8,171,690 | $ | 1 | $ | 151,583 | $ | (130,119 | ) | $ | (1,455 | ) | $ | 20,010 | |||||||||||
Year Ended June 30, | ||||||||
2022 | 2021 | |||||||
Revenue: | ||||||||
Revenues from customers | $ | 73 | $ | 59 | ||||
Operating expenses | ||||||||
Royalties and license fees | 9 | 123 | ||||||
Research and development | 11,272 | 7,020 | ||||||
General and administrative | 6,646 | 6,512 | ||||||
Total operating expenses | 17,927 | 13,655 | ||||||
Loss from operations | (17,854 | ) | (13,596 | ) | ||||
Other income (loss): | ||||||||
Foreign currency transaction loss | (232 | ) | (333 | ) | ||||
Interest expense, net | (32 | ) | (6 | ) | ||||
Other income (expense), net | (79 | ) | 37 | |||||
Unrealized gain (loss) on investment | (11 | ) | 16 | |||||
Total other loss, net | (354 | ) | (286 | ) | ||||
Net loss | $ | (18,208 | ) | $ | (13,882 | ) | ||
Other comprehensive income (loss): | ||||||||
Unrealized foreign currency translation gain | 210 | 498 | ||||||
Total other comprehensive income | 210 | 498 | ||||||
Total comprehensive loss | $ | (17,998 | ) | $ | (13,384 | ) | ||
Net loss | $ | (18,208 | ) | $ | (13,882 | ) | ||
Net loss per share: | ||||||||
Basic and diluted | $ | (2.23 | ) | $ | (3.23 | ) | ||
Weighted-average shares outstanding: | ||||||||
Basic and diluted | 8,171,690 | 4,295,416 | ||||||
Year Ended June 30, | ||||||||
2021 | 2020 | |||||||
Cash flows from operating activities: | ||||||||
Net loss | $ | (13,882 | ) | $ | (8,274 | ) | ||
Adjustments to reconcile net loss to net cash from operating activities: | ||||||||
Depreciation and amortization | 231 | 190 | ||||||
Amortization of right-of-use | 193 | 184 | ||||||
Loss on disposal of fixed assets | — | 1 | ||||||
Unrealized (gain) loss on investment | (16 | ) | 1 | |||||
Share-based compensation expense | 634 | 237 | ||||||
Changes in operating assets and liabilities: | ||||||||
Trade and other receivables | 28 | 2,396 | ||||||
Prepaid and other assets | (4 | ) | (457 | ) | ||||
Trade and other payables | 55 | (1,696 | ) | |||||
Accrued employee benefit payable | 121 | 57 | ||||||
Lease liability | (192 | ) | (174 | ) | ||||
Net cash used in operating activities | (12,832 | ) | (7,535 | ) | ||||
Cash flows from investing activities: | ||||||||
Purchases of property and equipment | (221 | ) | (95 | ) | ||||
Proceeds from disposal of property and equipment | — | 1 | ||||||
Net cash used in investing activities | (221 | ) | (94 | ) | ||||
Cash flows from financing activities: | ||||||||
Proceeds from issues of shares and pre-funded warrants | 25,750 | 2,250 | ||||||
Share issue transaction costs | (3,228 | ) | (480 | ) | ||||
Net cash provided by financing activities | 22,522 | 1,770 | ||||||
Net increase (decrease) in cash and cash equivalents | 9,469 | (5,859 | ) | |||||
Cash and cash equivalents, beginning of year | 9,801 | 15,718 | ||||||
Effects of exchange rate changes on cash and cash equivalents | 499 | (58 | ) | |||||
Cash and cash equivalents, end of year | $ | 19,769 | $ | 9,801 | ||||
Supplemental disclosure of cash flow information: | ||||||||
Initial measurement of operating lease right-of-use | $ | — | $ | (579 | ) | |||
Common Stock | Additional Paid-in Capital | Accumulated Deficit | Accumulated Other Comprehensive Loss | Total Stockholders’ Equity | ||||||||||||||||||||
Shares | Amount | |||||||||||||||||||||||
Balance at June 30, 2020 | 1,108,374 | $ | — | $ | 128,827 | $ | (116,636 | ) | $ | (1,953 | ) | $ | 10,238 | |||||||||||
Issuance of common stock and pre-funded warrants sold for cash, net of offering costs of $3,228 | 6,504,154 | 1 | 22,518 | — | — | 22,519 | ||||||||||||||||||
Exercise of pre-funded warrants | 559,162 | — | 3 | — | — | 3 | ||||||||||||||||||
Share-based compensation | — | — | 634 | — | — | 634 | ||||||||||||||||||
Forfeitures of share-based payments | — | — | (399 | ) | 399 | — | — | |||||||||||||||||
Foreign currency translation gain | — | — | — | — | 498 | 498 | ||||||||||||||||||
Net loss | — | — | — | (13,882 | ) | — | (13,882 | ) | ||||||||||||||||
Balance at June 30, 2021 | 8,171,690 | $ | 1 | $ | 151,583 | $ | (130,119 | ) | $ | (1,455 | ) | $ | 20,010 | |||||||||||
Share-based compensation | — | — | 870 | — | — | 870 | ||||||||||||||||||
Foreign currency translation gain | — | — | — | — | 210 | 210 | ||||||||||||||||||
Net loss | — | — | — | (18,208 | ) | — | (18,208 | ) | ||||||||||||||||
Balance at June 30, 2022 | 8,171,690 | $ | 1 | $ | 152,453 | $ | (148,327 | ) | $ | (1,245 | ) | $ | 2,882 | |||||||||||
Year Ended June 30, | ||||||||
2022 | 2021 | |||||||
Cash flows from operating activities: | ||||||||
Net loss | $ | (18,208 | ) | $ | (13,882 | ) | ||
Adjustments to reconcile net loss to net cash from operating activities: | ||||||||
Depreciation and amortization | 167 | 231 | ||||||
Amortization of right-of-use assets | 225 | 193 | ||||||
Unrealized (gain) loss on investment | 10 | (16 | ) | |||||
Share-based compensation expense | 870 | 634 | ||||||
Changes in operating assets and liabilities: | ||||||||
Trade and other receivables | 1 | 28 | ||||||
Prepaid and other assets | 62 | (4 | ) | |||||
Trade and other payables | 1,090 | 55 | ||||||
Accrued employee benefit payable | 80 | 121 | ||||||
Lease liability | (196 | ) | (192 | ) | ||||
Net cash used in operating activities | (15,899 | ) | (12,832 | ) | ||||
Cash flows from investing activities: | ||||||||
Purchases of property and equipment | (13 | ) | (221 | ) | ||||
Net cash used in investing activities | (13 | ) | (221 | ) | ||||
Cash flows from financing activities: | ||||||||
Proceeds from issues of shares and pre-funded warrants | — | 25,750 | ||||||
Share issue transaction costs | — | (3,228 | ) | |||||
Net cash provided by financing activities | — | 22,522 | ||||||
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 204 | 499 | ||||||
Net increase (decrease) in cash, cash equivalents, and restricted cash | (15,708 | ) | 9,968 | |||||
Cash, cash equivalents, and restricted cash at beginning of year | 19,784 | 9,816 | ||||||
Cash, cash equivalents, and restricted cash at end of year | $ | 4,076 | $ | 19,784 | ||||
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets: | ||||||||
Cash and cash equivalents | $ | 4,062 | $ | 19,769 | ||||
Restricted cash | 14 | 15 | ||||||
Total cash, cash equivalents, and restricted cash | $ | 4,076 | $ | 19,784 | ||||
Supplemental disclosure of cash flow information: | ||||||||
Re-measurement of operating lease right-of-use assets and liabilities | $ | 794 | $ | — | ||||
Principal place of business/country of incorporation | ||
Benitec Biopharma Proprietary Limited (“BBL”) | Australia | |
Benitec Australia Proprietary Limited | Australia | |
Benitec Limited | United Kingdom | |
Benitec, Inc. | USA | |
Benitec LLC | USA | |
RNAi Therapeutics, Inc. | USA | |
Tacere Therapeutics, Inc. | USA | |
Benitec IP Holdings, Inc. | USA |
June 30, 2021 | June 30, 2020 | June 30, 2022 | June 30, 2021 | |||||||||||||
Exchange rate on balance sheet dates | ||||||||||||||||
USD: AUD Exchange Rate | 0.7506 | 0.6877 | 0.6891 | 0.7506 | ||||||||||||
Average exchange rate for the period | ||||||||||||||||
USD: AUD Exchange Rate | 0.7470 | 0.6711 | 0.7254 | 0.7470 |
Level 1: | Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. | |
Level 2: | Inputs, other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. | |
Level 3: | Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use. |
Software | ||
Lab equipment | ||
Computer hardware | ||
Leasehold improvements | shorter of the lease term or estimated useful lives |
Revenues from customers (US$’000) | Year ended June 30, 2022 | Year ended June 30, 2021 | ||||||
Licensing revenue | $ | 73 | $ | 59 | ||||
Total | $ | 73 | $ | 59 | ||||
Revenues from customers (US$’000) | Year ended June 30, 2021 | Year ended June 30, 2020 | ||||||
Licensing revenue | $ | 59 | $ | 0 | ||||
Royalty revenue | 0 | 93 | ||||||
Service revenue* | 0 | 4 | ||||||
Total | $ | 59 | $ | 97 | ||||
Other revenues (US$’000) | Year ended June 30, 2021 | Year ended June 30, 2020 | ||||||
Government research and development grants | $ | 0— | $ | 5 | ||||
Total | $ | 0— | $ | 5 | ||||
Disaggregated revenue (US$’000) | Year ended June 30, 2021 | |||||||||||||||
Licensing | Royalties | Development activities | Total | |||||||||||||
Services transferred over time | $ | 59 | $ | 0 | $ | 0 | $ | 59 | ||||||||
Total | $ | 59 | $ | 0 | $ | 0 | $ | 59 | ||||||||
Disaggregated revenue (US$’000) | Year ended June 30, 2020 | |||||||||||||||
Licensing | Royalties | Development activities | Total | |||||||||||||
Services transferred at a point in time | $ | 0 | $ | 0 | $ | 4 | $ | 4 | ||||||||
Services transferred over time | 0 | 93 | 0 | 93 | ||||||||||||
Total | $ | 0 | $ | 93 | $ | 4 | $ | 97 | ||||||||
(US$’000) | June 30, 2022 | June 30, 2021 | ||||||
Cash at b ank | $ | 4,062 | $ | 19,769 | ||||
Restricted cash | 14 | 15 | ||||||
Total | $ | 4,076 | $ | 19,784 | ||||
(US$’000) | June 30, 2022 | June 30, 2021 | ||||||
Prepaid expenses | $ | 871 | $ | 967 | ||||
Market value of listed shares | 5 | 17 | ||||||
Total other assets | 876 | 984 | ||||||
Less: non-current portion | (135 | ) | (185 | ) | ||||
Current portion | $ | 741 | $ | 799 | ||||
(US$’000) | June 30, 2021 | June 30, 2020 | ||||||
Cash at Bank | $ | 19,769 | $ | 5,231 | ||||
Term Deposit | 0— | 4,570 | ||||||
Total | $ | 19,769 | $ | 9,801 | ||||
(US$’000) | June 30, 2021 | June 30, 2020 | ||||||
Prepaid expenses | $ | 967 | $ | 861 | ||||
Security deposit | 15 | 69 | ||||||
Other deposit | — | 18 | ||||||
Market value of listed shares | 17 | 1 | ||||||
Total other assets | 999 | 949 | ||||||
Less: non-current portion | (185 | ) | — | |||||
Current portion | $ | 814 | $ | 949 | ||||
(US$’000) | June 30, 2021 | June 30, 2020 | June 30, 2022 | June 30, 2021 | ||||||||||||
Software | $ | 14 | $ | 11 | $ | 6 | $ | 14 | ||||||||
Lab equipment | 1,329 | 1,109 | 1,343 | 1,329 | ||||||||||||
Computer hardware | 26 | 26 | 31 | 26 | ||||||||||||
Leasehold improvements | 24 | 24 | 24 | 24 | ||||||||||||
Total property and equipment, gross | 1,393 | 1,170 | 1,404 | 1,393 | ||||||||||||
Accumulated depreciation and amortization | (1,018 | ) | (796 | ) | (1,182 | ) | (1,018 | ) | ||||||||
Total property and equipment, net | $ | 375 | $ | 374 | $ | 222 | $ | 375 | ||||||||
(US$’000) | June 30, 2021 | June 30, 2020 | June 30, 2022 | June 30, 2021 | ||||||||||||
Trade payable | $ | 274 | $ | 282 | $ | 422 | $ | 274 | ||||||||
Accrued license fees | 140 | 54 | ||||||||||||||
Accrued License Fees | 120 | 140 | ||||||||||||||
Accrued professional fees | 13 | 155 | 131 | 36 | ||||||||||||
Accrued CRO fees | 279 | 49 | ||||||||||||||
Accrued OPMD project costs | 1,089 | 279 | ||||||||||||||
Accrued consultant fees | 47 | 36 | ||||||||||||||
Other payables | 174 | 201 | 71 | 115 | ||||||||||||
Total | $ | 880 | $ | 741 | $ | 1,880 | $ | 880 | ||||||||
(US$’000) | Operating lease right-of- use assets | |||
Initial measurement at July 1, 2019 | $ | 579 | ||
Amortization of right of use asset | (184 | ) | ||
Balance at June 30, 2020 | 395 | |||
Amortization of right of use asset | (193 | ) | ||
Operating lease right-of-use | $ | 202 |
(US$’000) | Operating lease right-of- use assets | |||
Initial measurement at July 1, 2020 | $ | 395 | ||
Amortization of right of use asset | (193 | ) | ||
Balance at June 30, 2021 | 202 | |||
Re-measurement during the period | 794 | |||
Amortization of right of use asset | (225 | ) | ||
Operating lease right-of-use asset at June 30, 2022 | $ | 771 | ||
(US$’000) | Operating lease liabilities | Operating lease liabilities | ||||||
Initial measurement at July 1, 2019 | $ | 579 | ||||||
Principal payments on operating lease liabilities | (174 | ) | ||||||
Operating lease liabilities at June 30, 2020 | 405 | |||||||
Initial measurement at July 1, 2020 | $ | 405 | ||||||
Principal payments on operating lease liabilities | (192 | ) | (192 | ) | ||||
Operating lease liabilities at June 30, 2021 | 213 | 213 | ||||||
Re-measurement during the period | 794 | |||||||
Principal payments on operating lease liabilities | (196 | ) | ||||||
Operating lease liabilities at June 30, 2022 | 811 | |||||||
Less: non-current portion | 0— | 559 | ||||||
Current portion at June 30, 2021 | $ | 213 | ||||||
Current portion at June 30, 202 2 | $ | 252 | ||||||
(US$’000) | June 30, 2021 | June 30, 2022 | ||||||
2022 | 218 | |||||||
2023 | 285 | |||||||
2024 | 295 | |||||||
2025 | 291 | |||||||
Total operating lease payments | 871 | |||||||
Less imputed interest | (5 | ) | (60 | ) | ||||
Present value of operating lease liabilities | $ | 213 | $ | 811 | ||||
Common Stock from Warrants | Weighted- average Exercise Price (per share) | Common Stock from Warrants | Weighted- average Exercise Price (per share) | |||||||||||||
Outstanding at July 1, 2019 | 38,329 | $ | 82.50 | |||||||||||||
Granted | 241,716 | 10.50 | ||||||||||||||
Exercised | (27,526 | ) | 10.50 | |||||||||||||
Cashless exercise | (107,095 | ) | 10.50 | |||||||||||||
Forfeited | — | — | ||||||||||||||
Outstanding and exercisable at June 30, 2020 | 145,424 | 29.48 | ||||||||||||||
Outstanding and exercisable at July 1, 2020 | 145,424 | 29.48 | ||||||||||||||
Granted | 559,162 | 3.09 | 559,162 | 3.09 | ||||||||||||
Exercised | (559,162 | ) | 3.10 | (559,162 | ) | 3.10 | ||||||||||
Forfeited | (38,329 | ) | 82.50 | (38,329 | ) | 82.50 | ||||||||||
Outstanding and exercisable at June 30, 2021 | 107,095 | $ | 10.50 | 107,095 | $ | 10.50 | ||||||||||
Outstanding and exercisable at June 30, 2022 | 107,095 | $ | 10.50 |
Stock Options | Weighted- average Exercise Price | Weighted- average Remaining Contractual Term | Aggregate Intrinsic Value | |||||||||||||
Outstanding at July 1, 2019 | 86,462 | 64.20 | 3.58 years | $ | — | |||||||||||
Forfeited | (16,308 | ) | 102.66 | |||||||||||||
Outstanding at June 30, 2020 | 70,154 | 60.42 | 2.89 years | — | ||||||||||||
Exercisable at June 30, 2020 | 41,829 | 69.81 | 2.59 years | — | ||||||||||||
Granted | 640,320 | 3.29 | ||||||||||||||
Forfeited | (8,410 | ) | 153.79 | |||||||||||||
Outstanding at June 30, 2021 | 702,064 | 7.16 | 8.07 years | — | ||||||||||||
Exercisable at June 30, 2021 | 54,158 | $ | 47.90 | 2.09 years | $ | — | ||||||||||
Stock Options | Weighted- average Exercise Price | Weighted- average Remaining Contractual Term | Aggregate Intrinsic Value | |||||||||||||
Outstanding at July 1, 2020 | 70,154 | 60.42 | 2.89 years | — | ||||||||||||
Exercisable at July 1, 2020 | 41,829 | 69.81 | 2.59 years | — | ||||||||||||
Granted | 640,320 | 3.29 | ||||||||||||||
Forfeited | (8,410 | ) | 153.79 | |||||||||||||
Outstanding at June 30, 2021 | 702,064 | 7.16 | 8.07 years | — | ||||||||||||
Exercisable at June 30, 2021 | 54,158 | $ | 47.90 | 2.09 years | $ | — | ||||||||||
Granted | 36,000 | 2.99 | 9.45 years | $ | — | |||||||||||
Outstanding at June 30, 2022 | 738,064 | 6.95 | 7.18 years | $ | — | |||||||||||
Exercisable at June 30, 2022 | 275,174 | 13.16 | 6.19 years | $ | — | |||||||||||
Fiscal Year Ended June 30, | Fiscal Year Ended June 30, | |||||||||||||||
2021 | 2020 | 2022 | 2021 | |||||||||||||
Expected volatility | 112.0-127.4 | % | 102.9-104.1 | % | 122.1 | % | 112.0-127.4 | % | ||||||||
Expected term | 3.5 - 6 years | 5 years | 6 years | 3.5-6 years | ||||||||||||
Risk-free interest rate | 0.44-0.55 | % | 1.28-1.67 | % | 1.36 | % | 0.44-0.55 | % | ||||||||
Expected dividend yield | — | % | — | % | — | % | — | % | ||||||||
(US$’000) | June 30, | |||||||
2021 | 2020 | |||||||
Research and development | $ | 212 | $ | 16 | ||||
General and administrative | 422 | 221 | ||||||
Total share-based compensation expense | $ | 634 | $ | 237 | ||||
(US$’000) | June 30, | |||||||
2022 | 2021 | |||||||
Research and development | $ | 257 | $ | 212 | ||||
General and administrative | 613 | 422 | ||||||
Total share-based compensation expense | $ | 870 | $ | 634 | ||||
(US$’000) | Year Ended June 30, | |||||||
2021 | 2020 | |||||||
United States | $ | (7,911 | ) | $ | (299 | ) | ||
International | (5,971 | ) | (7,975 | ) | ||||
Total | $ | (13,882 | ) | $ | (8,274 | ) | ||
(US$’000) | Year Ended June 30, | |||||||
2022 | 2021 | |||||||
United States | $ | (17,369 | ) | $ | 7,911 | |||
International | (839 | ) | (5,971 | ) | ||||
Total | $ | (18,208 | ) | $ | (13,882 | ) | ||
(US$’000) | Year Ended June 30, | June 30, | ||||||||||||||
2021 | 2020 | 2022 | 2021 | |||||||||||||
Deferred tax assets: | ||||||||||||||||
Net operating losses | $ | 15,902 | $ | 13,153 | $ | 17,348 | $ | 15,902 | ||||||||
Other | 230 | 209 | 348 | 230 | ||||||||||||
Lease liability | 45 | 85 | 170 | 45 | ||||||||||||
Share-based compensation | 88 | 0 | 205 | 88 | ||||||||||||
Intangible assets | 212 | 0 | 250 | 212 | ||||||||||||
Gross deferred tax assets | 16,477 | 13,447 | 18,321 | 16,477 | ||||||||||||
Less valuation allowance | (16,223 | ) | (13,290 | ) | (17,965 | ) | (16,223 | ) | ||||||||
254 | 157 | |||||||||||||||
Deferred tax liabilities: | ||||||||||||||||
Right-of-use | (42 | ) | (83 | ) | (162 | ) | (42 | ) | ||||||||
Fixed assets | (76 | ) | (74 | ) | (43 | ) | (76 | ) | ||||||||
Prepaid expenses | (136 | ) | 0 | (151 | ) | (136 | ) | |||||||||
Total deferred tax liabilities | (254 | ) | (157 | ) | (356 | ) | (254 | ) | ||||||||
Net deferred taxes | $ | 0 | $ | 0 | $ | — | $ | — | ||||||||
(US$’000) | Amount | Expiration Years | ||||||
Net operating losses, federal (post-December 31, 2017) | $ | 8,797 | Do not expire | |||||
Net operating losses, federal (post-December 31, 2017) | — | — | ||||||
Net operating losses, state | 5,314 | 2031-2034 | ||||||
Net operating losses, Australia | 52,623 | Do not expire |
(US$’000) | Amount | Expiration Years | ||||||
Net operating losses, federal (post-December 31, 2017) | $ | 25,597 | Do not expire | |||||
Net operating losses, state | 4,632 | 2031-2034 | ||||||
Net operating losses, Australia | 46,596 | Do not expire |
Year Ended June 30, | ||||||||
2021 | 2020 | |||||||
Statutory rate | 21.00 | % | 21.00 | % | ||||
Permanent differences | (8.9 | %) | (2.4 | %) | ||||
Share-based payments | (0.32 | %) | (0.74 | %) | ||||
Change in valuation allowance | (13.9 | %) | (24.12 | %) | ||||
Foreign tax rate differential | 2.12 | % | 6.26 | % | ||||
Total | (0.00 | %) | (0.00 | %) | ||||
Year Ended June 30, | ||||||||
2022 | 2021 | |||||||
Statutory rate | 21.00 | % | 21.00 | % | ||||
Permanent differences | (0.22 | %) | (8.9 | %) | ||||
Share-based payments | (0.36 | %) | (0.32 | %) | ||||
Change in valuation allowance | (20.55 | %) | (13.9 | %) | ||||
Foreign tax rate differential | 0.13 | % | 2.12 | % | ||||
Total | (0.00 | %) | (0.00 | %) | ||||
(US$’000) | Year Ended June 30, | |||||||
2021 | 2020 | |||||||
Net loss attributable to common stockholders | ($ | 13,882 | ) | ($ | 8,274 | ) | ||
Weighted average number of shares used in calculating basic and diluted earnings per share | 4,295,416 | 1,021,193 | ||||||
Basic and diluted loss per share | ($ | 3.23 | ) | ($ | 8.10 | ) | ||
Year Ended June 30, | ||||||||
2022 | 2021 | |||||||
Net loss attributable to common stockholders (US$’000) | ($ | 18,208 | ) | ($ | 13,882 | ) | ||
Weighted average number of shares used in calculating basic and diluted earnings per share | 8,171,690 | 4,295,416 | ||||||
Basic and diluted loss per share | ($ | 2.23 | ) | ($ | 3.23 | ) | ||
Name | Age | Position | ||
Jerel Banks | Chief Executive Officer, Director | |||
Megan Boston | Executive Director, Director | |||
J. Kevin Buchi(1)(2)(3) | Director | |||
Peter Francis(1)(2)(3) | Director | |||
Edward Smith (1)(2)(3) | Director |
(1) | Member of the audit committee. |
(2) | Member of the compensation committee. |
(3) | Member of the nominating and corporate governance committee. |
Named Executive Officer and Principal Position | Fiscal Year | Salary ($)(1) | Bonus ($)(2) | Option Awards ($)(3) | All Other Compensation ($) | Total ($)(7) | Fiscal Year | Salary ($)(1) | Bonus ($)(2) | Option Awards ($)(3) | All Other Compensation ($) | Total ($) | ||||||||||||||||||||||||||||||||||||
Dr. Jerel A. Banks, M.D. Ph.D. | 2021 | 439,583 | — | 705,375 | 33,105 | (5) | 1,178,063 | 2022 | 505,682 | 34,282 | (5) | 539,964 | ||||||||||||||||||||||||||||||||||||
Executive Chairman and Chief Executive Officer | 2020 | 400,000 | 200,000 | — | 31,704 | (5) | 631,704 | 2021 | 439,583 | 225,000 | 705,375 | 33,105 | (5) | 1,403,063 | ||||||||||||||||||||||||||||||||||
Megan Boston | 2021 | 269,837 | — | 352,686 | 17,928 | (6) | 640,451 | 2022 | 309,382 | 20,074 | (6) | 329,456 | ||||||||||||||||||||||||||||||||||||
Executive Director | 2020 | 221,430 | 110,715 | (4) | — | 16,775 | (6) | 348,920 | 2021 | 269,837 | 111,340 | (4) | 352,686 | 17,928 | (6) | 751,791 |
(1) | Ms. Boston’s salary was paid in Australian dollars and has been converted to U.S. dollars using a conversion rate of A$1.00 to |
(2) | In respect of the fiscal year ended June 30, 8-K under Item 5.02(f) once the amounts are determined. |
(3) |
(4) | Ms. Boston’s performance-based cash bonus in respect of fiscal year ended June 30, 2021 was paid in Australian dollars and has been converted to U.S. dollars using a conversion rate of A$1.00 to |
(5) | Amounts reflect company-paid health and life insurance premiums. |
(6) | Amounts reflect the Company’s compulsory contributions to Ms. Boston’s superannuation account. The superannuation contributions were paid in Australian dollars and were converted to U.S. dollars using a conversion rate of A$1.00 to |
Option Awards | ||||||||||||||||||||||||||||||||||||||||
Named Executive Officer | Grant Date | Number of Securities Underlying Unexercised Options (#)—Exercisable | Number of Securities Underlying Unexercised Options (#)—Unexercisable | Option Exercise Price ($) | Option Expiration Date | Grant Date | Number of Securities Underlying Unexercised Options (#)— Exercisable | Option Awards Number of Securities Underlying Unexercised Options (#)—Unexercisable | Option Exercise Price ($) | Option Expiration Date | ||||||||||||||||||||||||||||||
Dr. Jerel A. Banks, M.D. Ph.D. | 12/9/2020 | (1)(2) | — | 284,345 | 2.98 | 12/9/2030 | 12/9/2020(1)(2) | 94,781 | 189,564 | 2.98 | 12/9/2030 | |||||||||||||||||||||||||||||
Executive Chairman and Chief Executive Officer | 6/26/2018 | (2)(3) | 33,333 | — | 50.73 | 6/26/2023 | 6/26/2018(2)(3) | 33,333 | — | 50.56 | 6/25/2023 | |||||||||||||||||||||||||||||
Megan Boston | 12/9/2020 | (1)(2) | — | 142,172 | 2.98 | 12/9/2030 | 12/9/2020(1)(2) | 47,390 | 94,782 | 2.98 | 12/9/2030 | |||||||||||||||||||||||||||||
Executive Director | 3/12/2019 | (2)(3) | 11,111 | 5,555 | 42.33 | 3/12/2024 | 3/12/2019(2)(3) | 16,666 | — | 42.47 | 3/11/2024 |
(1) | The option awards were granted under the 2020 Plan. |
(2) | The shares subject to each of the option awards vest in substantially equal installments on each of the first, second and third anniversaries of the grant date, generally subject to continued employment through the applicable vesting date. |
(3) | The option awards were granted under the Benitec Officers’ and Employees’ Share Option Plan prior to the Re-domiciliation. The share amounts and exercise prices of the awards shown in this table have been adjusted to reflect the terms of theRe-domiciliation. |
Name | Fees Earned or Paid in Cash ($)(2) | Option Awards ($)(3) | All Other Compensation ($)(4) | Total ($) | Fees Earned or Paid in Cash ($)(2) | Option Awards ($)(3) | All Other Compensation ($)(4) | Total ($) | ||||||||||||||||||||||||
J. Kevin Buchi | 62,939 | 58,547 | — | 121,486 | 64,000 | 31,200 | — | 95,200 | ||||||||||||||||||||||||
Peter Francis | 59,173 | 58,547 | 5,231 | 122,951 | 59,078 | 31,200 | 5,922 | 96,200 | ||||||||||||||||||||||||
Edward F. Smith | 53,057 | 58,547 | — | 111,604 | 56,500 | 31,200 | — | 87,700 |
(1) | For information regarding the compensation of Dr. Banks and Ms. Boston, see “Summary Compensation Table.” |
(2) | Fees paid to Mr. |
(3) | Amount represents the aggregate grant date fair value of stock and option awards granted by the Company in the fiscal year ended June 30, |
(4) | For information regarding other compensation of all directors, see “Narrative Disclosure to Director Compensation Table” |
Name | Option Awards (#) | |||
J. Kevin Buchi | ||||
Peter Francis | ||||
Edward F. Smith |
Name of Beneficial Owner | Number of Shares Beneficially Owned | Percentage of Shares Beneficially Owned | ||||||
5% or Greater Stockholders: | ||||||||
Entities affiliated with Suvretta Capital Management, LLC(1) | 769,000 | 9.4 | % | |||||
Entities affiliated with Lincoln Park Capital, LLC(2) | 423,529 | 5.1 | % | |||||
Directors and Named Executive Officers: | ||||||||
Jerel A. Banks(3) | 33,333 | * | ||||||
Megan Boston(4) | 11,444 | * | ||||||
Kevin Buchi(5) | 4,827 | * | ||||||
Peter Francis(6) | 5,037 | * | ||||||
Edward Smith | — | * | ||||||
All Executive Officers and Directors As a Group | 54,641 |
Name of Beneficial Owner | Number of Shares Beneficially Owned | Percentage of Shares Beneficially Owned | ||||||||||
5% or Greater Stockholders: | ||||||||||||
Steven Michael Oliveira(1) | 1,000,000 | 12.2 | % | |||||||||
Entities affiliated with Suvretta Capital Management, LLC(2) | 769,000 | 9.4 | % | |||||||||
Entities affiliated with SilverArc Capital Management, LLC(3) | 587,499 | 7.2 | % | |||||||||
Entities affiliated with Lincoln Park Capital, LLC(4) | 423,529 | 5.2 | % | |||||||||
Directors and Named Executive Officers: | ||||||||||||
Jerel A. Banks(5) | 128,114 | 1.6 | % | |||||||||
Megan Boston(6) | 64,389 | * | ||||||||||
J. Kevin Buchi(7) | 12,693 | * | ||||||||||
Peter Francis(8) | 12,903 | * | ||||||||||
Edward Smith(9) | 7,866 | * | ||||||||||
All Executive Officers and Directors As a Group (5 persons)(10) | 225,965 | 2.8 | % |
* | Represents beneficial ownership of less than one percent of the Company’s outstanding common stock. |
(1) | Based on the information included in the Form 4 filed by Steven Michael Oliveira on December 9, 2021. The shares of common stock are held through Nemean Asset Management, LLC. The address of Steven Michael Oliveira is 225 Via Palacio, Palm Beach Gardens, FL, 33418. |
(2) | Based on the information included in the Schedule 13G filed by Suvretta Capital Management, LLC (“Suvretta”) on May 7, 2021, Averill Master Fund, Ltd. (“Averill”) and Aaron Cowen. The address of the principal business office of Suvretta and Mr. Cowen is c/o Suvretta Capital Management, LLC, 540 Madison Avenue, KY1-1104, Cayman Islands. |
Based on information included in the Schedule 13G filed by SilverArc Capital Management, LLC (“ SilverArc ”) and Devesh Gandhi (“Gandhi ”) on February 9, 2022. Gandhi is the Sole Member of SilverArc and as such is deemed to be the beneficial owner of these 587,499 shares. SilverArc Capital Alpha Fund I, L.P., a Delaware limited partnership for which SilverArc acts as an investment adviser, may be deemed to beneficially own 33,017 of these 587,499 shares. SilverArc Capital Alpha Fund II, L.P., a Delaware limited partnership for which SilverArc acts as an investment adviser, may be deemed to beneficially own 384,277 of these 587,499 shares. Squarepoint Diversified Partners Fund Limited, a Cayman Island exempted company for which SilverArc acts as investment adviser, may be deemed to beneficially own 96,918 of these 587,499 shares. Atom Master Fund L.P., a Cayman Islands exempted limited partnership for which SilverArc acts as investment adviser, may be deemed to beneficially own 73,287 of these 587,499 shares. The address of the principal business office of SilverArc and Gandhi is 20 Park Plaza, 4th Floor, Boston, Massachusetts 02116. |
(4) | Based on information included in the Schedule 13G filed by Lincoln Park Capital, LLC and its affiliates on April 28, 2021. Represents 423,529 shares held directly by Lincoln Park Capital Fund, LLC (“LPC Fund”). Alex Noah and Joshua B. Scheinfeld have shared voting and shared investment power over the shares held by LPC Fund. The address of the principal business office of Lincoln Park Capital, LLC and its affiliates is 440 North Wells, Suite 410, Chicago, Illinois 60654. |
Represents stock options to acquire |
Includes 333 shares of common stock held by Boston Super Invest Pty A/C Boston Family Super that Megan Boston has sole voting power over and stock options to acquire |
Includes 4,827 shares of common stock held directly by Mr. |
Includes 4,737 shares of common stock held by the Francis Family Superannuation Fund, |
(9) | Represents stock options to acquire 7,866 shares of common stock that have vested or will vest within 60 days of August 15, 2022. |
(10) | Includes 10,197 shares of common stock and stock options to acquire 215,768 shares of common stock that have vested or will vest within 60 days of August 15, 2022. |
Plan category | Number of securities to be issued upon exercise of outstanding options, warrants and rights | Weighted- average exercise price of outstanding options, warrants and rights ($) | Number of securities remaining available for future issuance under equity compensation plans | |||||||||||||||||||||
Number of securities to be issued upon exercise of outstanding options, warrants and rights | Weighted- average exercise price of outstanding options, warrants and rights ($) | Number of securities remaining available for future issuance under equity compensation plans | ||||||||||||||||||||||
Equity compensation plans approved by security holders | 702,064 | $ | 7.16 | 59,680 | 738,064 | $ | 6.95 | 1,173,680 | ||||||||||||||||
Equity compensation plans not approved by security holders | — | — | — | — | — | — | ||||||||||||||||||
Total | 702,064 | $ | 7.16 | 59,680 | 738,064 | $ | 6.95 | 1,173,680 | ||||||||||||||||
Fee Category | 2021 | 2020 | 2022 | 2021 | ||||||||||||
Audit Fees(1) | $ | 256,500 | $ | 210,140 | $ | 222,696 | $ | 256,500 | ||||||||
Audit Related Fees(2) | $ | 56,500 | $ | 16,200 | $ | 16,200 | $ | 56,500 | ||||||||
Tax Fees(3) | $ | 46,465 | $ | 7,000 | $ | 65,735 | $ | 46,465 | ||||||||
Total | $ | 359,465 | $ | 233,340 | $ | 304,631 | $ | 359,465 | ||||||||
(1) | Audit Fees consist of fees billed for professional services rendered for the audit of the Company’s consolidated annual financial statements included in the Company’s Annual Report on Form 10-K and review of the interim consolidated financial statements included in the Company’s Quarterly Reports on Form10-Q, and services that are normally provided by independent registered public accounting firms in connection with statutory and regulatory filings or engagements. |
(2) | Audit-Related Fees consist of fees billed for assurance and related services rendered that are reasonably related to the performance of the audit or review of the Company’s consolidated financial statements and are not reported under “Audit Fees.” |
(3) | Tax Fees were billed for professional services including assistance with tax compliance and the preparation of tax returns, tax consultation services, assistance in connection with tax audits and tax advice related to mergers, acquisitions and dispositions. |
† | Indicates a management contract or compensatory plan. |
* | Filed or furnished herewith |
BENITEC BIOPHARMA INC. | ||
By: | /s/ Dr. Jerel Banks | |
Dr. Jerel Banks | ||
Chief Executive Officer |
Signature | Title | Date | ||
/s/ Dr. Jerel Banks Dr. Jerel Banks | Chief Executive Officer, Director (principal executive officer) | September | ||
/s/ Megan Boston Megan Boston | Executive Director, Director (principal accounting and financial officer) | September | ||
/s/ J. Kevin Buchi J. Kevin Buchi | Director | September | ||
/s/ Peter Francis Peter Francis | Director | September | ||
/s/ Edward Smith Edward Smith | Director | September |