What changed in this filing

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Item 1. Financial Statements

2023-11-02 compared with 2023-08-14 · 95 added, 75 removed, 470 unchanged (27% of the section changed)

3 unchanged sentences

In the opinion of management, all adjustments (which include

only normal recurring adjustments) necessary to present fairly the financial position at June 30, 2023 and December 31, 2022, and the

results of operations and cash flows for the three months and six months ended June 30, 2023 and 2022, respectively, have been made.

information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally

accepted in the United States of America have been condensed or omitted.

It is suggested that these financial statements be read in conjunction

with the financial statements and notes thereto included in the Company’s audited financial statements for the year ended December

31, 2022 in the Company’s Annual Report on Form 10-K.

The results of operations for the three months and six months ended June 30,

2023 are not necessarily indicative of the operating results for the full year.

only normal recurring adjustments) necessary to present fairly the financial position at September 30, 2023 and December 31, 2022, and

the results of operations and cash flows for the three months and nine months ended September 30, 2023 and 2022, respectively, have been

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles

generally accepted in the United States of America have been condensed or omitted.

It is suggested that these financial statements be

read in conjunction with the financial statements and notes thereto included in the Company’s audited financial statements for the

year ended December 31, 2022 in the Company’s Annual Report on Form 10-K.

The results of operations for the three months and nine

months ended September 30, 2023 are not necessarily indicative of the operating results for the full year.

Actinium Pharmaceuticals, Inc.

1 unchanged sentence

(amounts in thousands, except share and per share

September 30,

Current Assets:

32 unchanged sentences

(In thousands, except share and per share data)

Three Months Ended

Six Months Ended

For the Three Months Ended

September 30,

For the Nine months Ended

September 30,

Other revenue

15 unchanged sentences

in Stockholders’ Equity

For the Period from January 1, 2023 to June

For the Period from January 1, 2023 to September

(amounts in thousands, except share amounts)

11 unchanged sentences

$ ( 314,983 )

Stock-based compensation

Sale of common stock, net of offering costs

Balance, September 30, 2023

$ ( 328,259 )

See accompanying notes to the condensed consolidated

3 unchanged sentences

in Stockholders’ Equity

For the Three and Six Months Ended June 30,

For the Three and Nine months Ended September

(In thousands, except share amounts)

Stockholders’

Balance, January 1, 2022

7 unchanged sentences

$ ( 268,644 )

Stock-based compensation

Sale of common stock, net of issuance costs

Balance, September 30, 2022

$ ( 278,118 )

See accompanying notes to the condensed consolidated

3 unchanged sentences

(amounts in thousands)

Six Months Ended

For the Nine months Ended

September 30,

Cash Flows From Operating Activities:

4 unchanged sentences

Prepaid expenses and other current assets

Payment of security deposit

Accounts payable and accrued expenses

26 unchanged sentences

Actinium Pharmaceuticals, Inc.

develops targeted radiotherapies to meaningfully improve survival for patients with relapsed or refractory

disease who have failed existing oncology therapies.

is a biopharmaceutical company developing targeted radiotherapies to deliver cancer-killing radiation with

cellular level precision to treat patients with high unmet medical needs.

Basis of Presentation -

27 unchanged sentences

The following is a summary

of cash, cash equivalents and restricted cash at June 30, 2023 and December 31, 2022:

of cash, cash equivalents and restricted cash at September 30, 2023 and December 31, 2022:

(in thousands)

September 30,

Cash and cash equivalents

66 unchanged sentences

Grant Revenue –

The Company had a grant from the National Institutes of Health (“NIH”) for research and development related activities that provided for payments

for reimbursed costs, which included overhead and general and administrative costs as well as an administrative fee.

The Company recognized

revenue from grants as it performed services under this arrangement.

Associated expenses were recognized when incurred as research and

development expense.

The Company had a grant from the National Institutes of Health (“NIH”) for research and development related activities

that provided for payments for reimbursed costs, which included overhead and general and administrative costs as well as an administrative

The Company recognized revenue from grants as it performed services under this arrangement.

Associated expenses were recognized when

incurred as research and development expense.

Revenue and related expenses are presented gross in the consolidated statements of operations.

59 unchanged sentences

For the three and nine months ended

June 30, 2023 and 2022, the Company’s potentially dilutive shares, which include outstanding common stock options, restricted stock

units and warrants, have not been included in the computation of diluted net loss per share as the result would have been anti-dilutive.

September 30, 2023 and 2022, the Company’s potentially dilutive shares, which include outstanding common stock options, restricted

stock units and warrants, have not been included in the computation of diluted net loss per share as the result would have been anti-dilutive.

(in thousands)

September 30,

Stock Options

Restricted Stock Units

64 unchanged sentences

the lease controlled by the lessor.

Options for lease renewals have been excluded from the lease term (and lease liability) for the majority

of the Company’s leases as the reasonably certain threshold is not met.

The Company entered into a lease for corporate office space effective

June 1, 2022.

The lease has a term of 5 years 2 months , with an expiration date on July 30, 2027 and current annual rent of $ 0.6 million.

The Company is also responsible for certain other costs, such as insurance, utilities and maintenance.

As of June 30, 2023, the Company

has two leases, a corporate office lease and an office equipment lease.

Both of these leases have been capitalized in accordance with

During the six months ended June 30, 2023, the Company spent $ 0.5 million on improvements at its corporate office space, which

has been included in the value of the operating right-to-use asset as of June 30, 2023.

Options for lease renewals were excluded from the lease term (and lease liability) for the Company’s

leases as the reasonably certain threshold were not met.

At September 30, 2023, the

Company has two leases which have been capitalized in accordance with ASC 842, one for corporate office space and one for office equipment.

The Company entered into a lease for corporate office space effective June 1, 2022.

The lease has a term of 5 years 2 months , with an

expiration date on July 30, 2027 and current annual rent of $ 0.6 million.

The Company is also responsible for certain other costs, such

as insurance, utilities and maintenance During the nine months ended September 30, 2023, the Company spent $ 0.5 million on improvements

at its corporate office space, which has been included in the value of the operating right-to-use asset as of September 30, 2023.

The components of lease expense

1 unchanged sentence

Three months ended

Six months ended

Nine months ended

(in thousands)

September 30,

Operating lease expense

6 unchanged sentences

Cash flow information:

Six months ended

Nine months ended

(in thousands)

September 30,

Cash paid for amounts included in the measurement of lease liabilities:

7 unchanged sentences

Weighted average remaining lease terms are as follows

at June 30, 2023:

at September 30, 2023:

Weighted average remaining lease term:

15 unchanged sentences

Year ending December 31,

2023 (excluding six months ended June 30, 2023)

2023 (excluding nine months ended September 30, 2023)

Total lease payments

12 unchanged sentences

for succeeding modules is not recognized until all contingencies are resolved, inclusive of the third party’s ability to terminate

The consideration is recognized as revenue over each module and revenue of $ 0.9 million was recognized during the six months

ended June 30, 2022.

There was no other revenue recognized from a collaboration during the six months ended June 30, 2023.

The consideration is recognized as revenue over each module and revenue of $ 0.9 million was recognized during the nine months

ended September 30, 2022.

There was no corresponding revenue recognized from a collaboration during the nine months ended September 30,

The Company had a grant from

5 unchanged sentences

Other revenue recognized

from this grant for the six months ended June 30, 2022 was $ 0.1 million.

There was no corresponding revenue for the six months ended June

from this grant for the nine months ended September 30, 2022 was $ 0.1 million.

There was no corresponding revenue for the nine months

ended September 30, 2023.

On April 7, 2022, the Company

17 unchanged sentences

liabilities primarily consist of advanced payments from licensees.

There was no Other revenue deferred – current liability at June

There was no Other revenue deferred – current liability at September

30, 2023 and December 31, 2022.

Long-term license revenue deferred was $ 35.0 million at June 30, 2023 and December 31, 2022;

this deferred

revenue will be recognized upon European Union regulatory approval of Iomab-B.

Long-term license revenue deferred was $ 35.0 million at September 30, 2023 and December 31, 2022;

deferred revenue will be recognized upon European Union regulatory approval of Iomab-B.

Note 5 - Equity

11 unchanged sentences

Riley Securities as an additional sales agent thereunder.

For the six months ended June

30, 2023, the Company sold 1.3 million shares of common stock, resulting in gross proceeds of $ 10.9 million and net proceeds of $ 10.6

For the six months ended June 30, 2022, the Company sold 2.7 million shares of common stock, resulting in gross proceeds of $ 17.2

million and net proceeds of $ 16.7 million.

For the nine months ended

September 30, 2023, the Company sold 1.7 million shares of common stock, resulting in gross proceeds of $ 13.8 million and net proceeds

of $ 13.4 million.

For the nine months ended September 30, 2022, the Company sold 3.0 million shares of common stock, resulting in gross

proceeds of $ 18.9 million and net proceeds of $ 18.3 million.

Stock Options

The following is a summary

of stock option activity for the six months ended June 30, 2023:

of stock option activity for the nine months ended September 30, 2023:

(in thousands, except for per-share amounts)

Outstanding, January 1, 2023

Outstanding, June 30, 2023

Exercisable, June 30, 2023

During the six months ended

June 30, 2023, the Company granted stock options to new employees to purchase 151 thousand shares of common stock with an exercise price

ranging from $8.05 to $11.60 per share, a term of 10 years, and a vesting period of 4 years.

The options have an aggregated fair

value of $ 1.0 million that was calculated using the Black-Scholes option-pricing model.

Outstanding, September 30, 2023

Exercisable, September 30, 2023

During the nine months ended

September 30, 2023, the Company granted stock options to new employees to purchase 166 thousand shares of common stock with an exercise

price ranging from $ 6.33 to $ 11.60 per share, a term of 10 years, and a vesting period of 4 years.

The options have an aggregated

fair value of $ 1.0 million that was calculated using the Black-Scholes option-pricing model.

Variables used in the Black-Scholes option-pricing

4 unchanged sentences

issued and outstanding are being amortized over their respective vesting periods.

The unrecognized compensation expense at June 30, 2023

The unrecognized compensation expense at September 30,

2023 was $ 7.7 million related to unvested options, which is expected to be expensed over a weighted average of 2.7 years.

During the six months

ended June 30, 2023 and 2022, the Company recorded compensation expense related to stock options of $ 1.7 million and $ 0.8 million, respectively.

During the nine

months ended September 30, 2023 and 2022, the Company recorded compensation expense related to stock options of $ 2.4 million and $ 1.6

million, respectively.

Restricted Stock Units

The following is a summary

of restricted stock unit, or RSU, activity for the six months ended June 30, 2023:

of restricted stock unit, or RSU, activity for the nine months ended September 30, 2023:

(in thousands, except for per-share amount)

2 unchanged sentences

Outstanding, January 1, 2023

Outstanding, June 30, 2023

Outstanding, September 30, 2023

The RSUs vest at the earliest

4 unchanged sentences

The unrecognized compensation

expense at June 30, 2023 of $ 1.4 million is expected to be expensed over a weighted average of 2.2 years.

During the six months ended

June 30, 2023, the Company recorded compensation expense related to RSUs of $ 0.3 million.

There was no compensation expense related to

RSUs for the six months ended June 30, 2022.

expense at September 30, 2023 of $ 1.1 million is expected to be expensed over a weighted average of 1.9 years.

During the nine months

ended September 30, 2023 and 2022, the Company recorded compensation expense related to RSUs of $ 0.4 million and $ 0.1 million, respectively.

Following is a summary of

warrant activity for the six months ended June 30, 2023:

warrant activity for the nine months ended September 30, 2023:

(in thousands, except for per-share amounts)

Outstanding, January 1, 2023

Outstanding, June 30, 2023

Exercisable, June 30, 2023

Outstanding, September 30, 2023

Exercisable, September 30, 2023

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements