Orgenesis Inc

NASDAQ:ORGSUnited States

NASDAQ FSI:D. Deficient (Issuer failed to meet continued listing requirements)

May 21, 2024

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• Orgenesis Provides Business Update for the First Quarter of 2024, from 7:00AM ET on Tuesday May 21, 2024 by GlobeNewswire

  7:00AM ET on Tuesday May 21, 2024 by GlobeNewswire
  Companies Mentioned: ORGS

• Orgenesis Provides Business Update for the First Quarter of 2024, from 7:00AM ET on Tuesday May 21, 2024 by Dow Jones

  7:00AM ET on Tuesday May 21, 2024 by Dow Jones
  Companies Mentioned: ORGS
  Employees and related payables 1,529 1,079 Other payable related parties - 52 Advance payments on account of grant 2,695 2,180 Short-term loans 626 650 Current maturities of finance leases 65 18 Current maturities of operating leases 476 216 Short-term and current maturities of convertible loans 2,344 2,670 -------- ---------- TOTAL CURRENT LIABILITIES 29,031 16,407 -------- ---------- LONG-TERM LIABILITIES: Non-current operating leases $ 1,274 $ 96 Loans payable 2,696 - Convertible loans 20,336 18,967 Retirement benefits obligation 98 - Finance leases 14 4 Contingent liability (see note 4) 4,643 - Other long-term liabilities 377 61 -------- ---------- TOTAL LONG-TERM LIABILITIES 29,438 19,128 -------- ---------- TOTAL LIABILITIES 58,469 35,535 -------- ---------- CAPITAL DEFICIENCY: Common stock of $0.0001 par value: Authorized at March 31, 2024 and December 31, 2023: 145,833,334 shares; Issued at March 31, 2024 and December 31, 2023: 34,625,349 and 32,163,630 shares, respectively; Outstanding at March 31, 2024 and December 31, 2023: 34,338,782 and 31,877,063 shares, respectively. 4 3 Additional paid-in capital 159,650 156,837 Receipts on account of shares to be allotted 155 - Accumulated other comprehensive income 126 65 Treasury stock, 286,567 shares as of March 31, 2024 and December 31, 2023 (1,266) (1,266) Accumulated deficit (186,386) (176,622) -------- ---------- Equity attributable to Orgenesis Inc. (27,717) (20,983) Non-controlling interest 168 - -------- ---------- TOTAL CAPITAL DEFICIENCY (27,549) (20,983) -------- ---------- TOTAL LIABILITIES AND CAPITAL DEFICIENCY $ 30,920 $ 14,552 ======== ========== ORGENESIS INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (INCOME) (U.S. Dollars, in thousands, except share and per share amounts) Three Months Ended ------------------------- March 31, March 31, 2024 2023 ----------- ----------- Revenue $ 141 $ 142 Cost of revenues 492 2,722 ---------- ---------- Gross loss (351) (2,580) Cost of development services and research and development expenses 2,370 3,281 Amortization of intangible assets 153 207 Selling, general and administrative expenses including credit losses, net of $3,225 and $9,489 for the three months ended March 31, 2024 and 2023 respectively 6,056 13,528 ---------- ---------- Operating loss 8,930 19,596 Loss from deconsolidation 66 - Other income, net - (2) Loss from extinguishment in connection with convertible loan 141 283 Credit loss on convertible loan receivable - 2,688 Financial expenses, net 852 681 Share in net loss of associated companies - 2 ---------- ---------- Loss before income taxes 9,989 23,248 Tax expense 16 129 ---------- ---------- Net loss 10,005 23,377 Net income (loss) attributable to non-controlling interests (including redeemable) (240) (3,907) ---------- ---------- Net loss attributable to Orgenesis Inc. 9,765 19,470 ========== ========== Loss per share: Basic and diluted $ 0.29 $ 0.87 ========== ========== Weighted average number of shares used in computation of Basic and Diluted loss per share: Basic and diluted 33,176,657 26,477,113 ========== ========== Comprehensive loss: Net loss $ 10,005 $ 23,377 Other Comprehensive loss (income) -- Translation adjustment (61) 41 ---------- ---------- Comprehensive loss 9,944 23,418 Comprehensive loss attributed to non-controlling interests (240) (3,907) ---------- ---------- Comprehensive loss attributed to Orgenesis Inc. $ 9,704 $ 19,511 ========== ==========
  

• Press Release: Orgenesis Provides Business Update for the First Quarter of 2024, from 7:00AM ET on Tuesday May 21, 2024 by Dow Jones

  7:00AM ET on Tuesday May 21, 2024 by Dow Jones
  Companies Mentioned: ORGS