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 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 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