0000950170-22-010238 6-K 2 20220518 20220518 20220518 Stealth BioTherapeutics Corp 0001696396 2834 000000000 E9 1231 6-K 34 001-38810 22937120 190 ELGIN AVENUE GEORGE TOWN GRAND CAYMAN E9 KY1-9005 617-600-6888 190 ELGIN AVENUE GEORGE TOWN GRAND CAYMAN E9 KY1-9005 6-K 1 6k_q12022.htm 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of May 2022 Commission File Number 001-38810 STEALTH BIOTHERAPEUTICS CORP (Translation of registrant’s name into English) Stealth BioTherapeutics Corp c/o Intertrust Corporate Services (Cayman) Limited One Nexus Way, Camana Bay Grand Cayman KY1-9005 Cayman Islands (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: FORM 20-F ? FORM 40-F ? Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ? Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ? 1 -------------------------------------------------------------------------------- EXHIBIT INDEX Exhibit Number Description 99.1 Selected Financial Data 2 -------------------------------------------------------------------------------- SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. STEALTH BIOTHERAPEUTICS CORP By: /s/ Irene P. McCarthy Irene P. McCarthy Chief Executive Officer Date: May 18, 2022 3 -------------------------------------------------------------------------------- EX-99.1 2 mito-ex99_1.htm EX-99.1 Exhibit 99.1 STEALTH BIOTHERAPEUTICS CORP Condensed Consolidated Statements of Operations (in thousands, except share and per share data) (unaudited) Three months ending March 31, 2022 2021 Operating expenses: Research and development $ 7,776 $ 6,099 General and administrative 5,298 4,979 Total operating expenses 13,074 11,078 Loss from operations (13,074 ) (11,078 ) Other income (expense): Gain from remeasurement of derivative liability 5,476 3,688 Interest income 3 1 Interest expense and other (541 ) (300 ) Total other income 4,938 3,389 Net loss attributable to ordinary shareholders $ (8,136 ) $ (7,689 ) Net loss per share attributable to ordinary shareholders — basic and diluted $ (0.01 ) $ (0.01 ) Weighted average ordinary shares used in net loss per share attributable to ordinary shareholders — basic and diluted 715,444,473 652,807,323 -------------------------------------------------------------------------------- STEALTH BIOTHERAPEUTICS CORP Condensed Consolidated Balance Sheets (in thousands) (unaudited) March 31, December 31, 2022 2021 Assets Current assets: Cash and cash equivalents $ 33,834 $ 47,135 Prepaid expenses and other current assets 2,566 2,467 Total current assets 36,400 49,602 Property and equipment, net 88 97 Deferred financing costs and other non-current assets 427 527 Total assets $ 36,915 $ 50,226 Liabilities and shareholders’ deficit Current liabilities: Accounts payable $ 4,122 $ 3,467 Accrued expenses and other current liabilities 5,613 7,283 Accrued interest payable 154 78 Total current liabilities 9,889 10,828 Long-term portion of debt 13,782 13,656 Development derivative liability - related party 65,561 71,037 Total liabilities 89,232 95,521 Total shareholders’ deficit (52,317 ) (45,295 ) Total liabilities and shareholders’ deficit $ 36,915 $ 50,226 --------------------------------------------------------------------------------