ࡱ;   !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~Root Entry  \pCalc Ba=2 =@ 8X@"1Calibri1Arial1Arial1Arial1Calibri General3._(\$* #,##0_);_(\$* \(#,##0\);_(\$* \-_);_(@_) #,##0\(#,##0_);[RED]\(#,##0\)!"($"#,##0_);[RED]"($"#,##0\)'""($"#,##0.00_);[RED]"($"#,##0.00\) #,##0.00                + ) , *   (  (8  $  $  (  $  $  $ "8  $ (8 ` W-condensed balance sheets">condensed statements of op"Icondensed statements of st"sbcondensed statements of ca xnet loss per share"|notes to condensed financi 4 property and equipment$unotes to condensed financi-1$-notes to condensed financi-2$notes to condensed financi-3$7notes to condensed financi-4kstockbased compensation"comparison of the three mo"'research and development e$research and development e-1"5liquidity and capital reso exhibit indexQexhibit index-1$phasebio pharmaceuticals inc/ appendix a appendix a-1"as adopted pursuant to sec$as adopted pursuant to sec-1"section 906 of the sarbane$section 906 of the sarbane-1Td     3  @@   CONDENSED BALANCE SHEETSMarch 31, 2021December 31, 2020AssetsCurrent assets:Cash and cash equivalents!Prepaid expenses and other assetsTotal current assetsProperty and equipment, net#Operating lease right-of-use assets Other assets Total assets.Liabilities and stockholders' equity (deficit)Current liabilities:!Current portion of long-term debtAccounts payable.Accrued expenses and other current liabilitiesTotal current liabilitiesLong-term debt, net Operating lease liabilities, net Development derivative liabilityOther long-term liabilitiesTotal liabilities(Commitments and contingencies ( Note 8 )Stockholders equity (deficit):Preferred stock, $0.001 par value; 10,000,000 shares authorized; zero shares issued and outstanding at March 31, 2021 and December 31, 2020 Common stock, $0.001 par value; 200,000,000 shares authorized; 47,982,000 shares issued and 47,952,033 shares outstanding at March 31, 2021; 29,471,854 shares issued and 29,441,887 shares outstanding at December 31, 2020QTreasury stock, at cost, 29,967 shares as of March 31, 2021 and December 31, 2020Additional paid-in capitalAccumulated deficit$Total stockholders equity (deficit)4Total liabilities and stockholders' equity (deficit)"CONDENSED STATEMENTS OF OPERATIONSThree Months Ended March 31,20212020 Grant revenue$ Operating expenses:Research and developmentGeneral and administrativeTotal operating expensesLoss from operationsOther income (expense):;Loss from remeasurement of development derivative liabilityInterest incomeInterest expenseForeign exchange (loss) gainTotal other expenseNet loss,Net loss per common share, basic and diluted=Weighted average common shares outstanding, basic and diluted5CONDENSED STATEMENTS OF STOCKHOLDERS EQUITY (DEFICIT) Common StockTreasury StockAdditional Paid-in CapitalAccumulated Deficit(Total Stockholders' Equity (Deficit)SharesAmountBalance at December 31, 20200Issuance of common stock in public offering, netExercises of stock optionsStock-based compensationBalance at March 31, 2021Balance at December 31, 2019!Issuance of common stock warrantsExercise of stock optionsBalance at March 31, 2020"CONDENSED STATEMENTS OF CASH FLOWSOperating activitiesKAdjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortizationNon-cash interest expense)Non-cash research and development expenseOther non-cash transactions,Changes in operating assets and liabilities:Other receivables%Net cash used in operating activitiesInvesting activities#Purchases of property and equipment+Acquisition of intellectual property rights%Net cash used in investing activitiesFinancing activities.Proceeds from development derivative liability>Proceeds from issuance of common stock in public offering, net)Payments of deferred stock offering costs'Proceeds from exercise of stock optionsRepayments of long-term debt)Net cash provided by financing activities4Net increase (decrease) in cash and cash equivalents8Cash and cash equivalents at the beginning of the period2Cash and cash equivalents at the end of the period%Supplemental disclosure for cash flowCash paid for interestFSupplemental disclosure of non-cash investing and financing activitiesIIssuance of warrants in conjunction with development derivative liabilityFStock offering costs included in accounts payable and accrued expensesQPurchases of property and equipment by incurring development derivative liabilityUPurchases of property and equipment included in accounts payable and accrued expensesNet Loss Per ShareAs of March 31,Common stock options!Warrants to purchase common stockEmployee stock purchase planTotal'Notes to Condensed Financial Statements)Fair Value Measurements at Reporting DateLevel 1Level 2Level 3As of March 31, 2021:Cash equivalents Liabilities)Development derivative liability (Note 7)As of December 31, 2020:4. Property and EquipmentAs of March 31, 2021As of December 31, 2020 Lab equipment)Computer hardware, software and telephoneFurniture and fixturesLeasehold improvementsConstruction in progressLess accumulated depreciationAs of December 31, 2020"Accrued clinical and related costs&Accrued compensation and related costsAccrued interest%Operating lease liability, short-term Accrued otherYears Ending December 31,2021 (remaining nine months)20222023 ThereafterTotal principal paymentsLess unamortized loan feesTotal term loan borrowings Development Derivative LiabilityFunding during the periodChange in fair valueYear Ending December 31,20242025#Total future minimum lease paymentsLess: Present value adjustmentOperating lease liabilitiesStock-Based CompensationThree Months Ended March 31,Total stock-based compensation<Comparison of the Three Months Ended March 31, 2021 and 2020ChangeForeign exchange gain (loss) Research and Development Expense$Preclinical and clinical development!Compensation and related benefitsFacilities expenseOther'Total research and development expenses5External research and development expense by program: Bentracimab Pemziviptadil-Unallocated research and development expense:)Compensation and stock-based compensationOther research and developmentLiquidity and Capital Resources EXHIBIT INDEXIncorporated by ReferenceExhibit Number Exhibit TitleFormFile No.Exhibit Filing DateSAmended and Restated Certificate of Incorporation of PhaseBio Pharmaceuticals, Inc.8-K 001-38697October 22, 2018=Amended and Restated Bylaws of PhaseBio Pharmaceuticals, Inc.S-1/A 333-227474October 5, 2018Form of Warrant to Purchase Shares of Series B Redeemable Convertible Preferred Stock, issued by PhaseBio Pharmaceuticals, Inc. on December 22, 2009.S-1September 21, 2018Warrant to Purchase Shares of Series C-1 Redeemable Convertible Preferred Stock, issued by PhaseBio Pharmaceuticals, Inc. to Silicon Valley Bank on October 18, 2017.Fourth Amended and Restated Investor Rights Agreement, by and among PhaseBio Pharmaceuticals, Inc. and certain of its stockholders, dated August 27, 2018.~Warrant to Purchase Shares of Common Stock, issued by PhaseBio Pharmaceuticals, Inc. to Silicon Valley Bank on March 25, 2019.10-KMarch 26, 2019Warrant to Purchase Shares of Common Stock, issued by PhaseBio Pharmaceuticals, Inc. to WestRiver Innovation Lending Fund VIII, L.P. on March 25, 2019.Warrant to Purchase Shares of Common Stock, issued by PhaseBio Pharmaceuticals, Inc. to WestRiver Innovation Lending Fund VIII, L.P. on July 26, 2019.10-QAugust 14, 2019}Warrant to Purchase Shares of Common Stock, issued by PhaseBio Pharmaceuticals, Inc. to Silicon Valley Bank on July 26, 2019.Warrant to Purchase Shares of Common Stock, issued by PhaseBio Pharmaceuticals, Inc. to Silicon Valley Bank on October 2, 2019.November 14, 2019Warrant to Purchase Shares of Common Stock, issued by PhaseBio Pharmaceuticals, Inc. to WestRiver Innovation Lending Fund VIII, L.P. on October 2, 2019.Warrant to Purchase Shares of Common Stock, issued by PhaseBio Pharmaceuticals, Inc. to SFJ Pharmaceuticals X, Ltd. on January 9, 2020March 30, 2020:Description of PhaseBio Pharmaceuticals, Inc. Common Stock10.1+5Non-Employee Director Compensation Policy, as amendedMarch 15, 202110.2# rSupply Agreement, dated as of March 10, 2021, by and between Phase Bio Pharmaceuticals, Inc. and BioVectra, Inc.31.1#Certification of Chief Executive Officer and President (Principal Executive Officer), pursuant to Section302 of the Sarbanes-Oxley Act of 2002.31.2#Certification of Chief Financial Officer (Principal Financial Officer), pursuant to Section302 of the Sarbanes-Oxley Act of 2002.Phasebio Pharmaceuticals INC Sign<dature:/s/ Jonathan Mow/s/ Oliver TechnowName: Jonathan MowOliver TechnowTitle:Chief Executive OfficerDate:March 10, 2021 APPENDIX A Calendar Year2PhaseBio Minimum Annual Commitment (# of Batches)5Capacity to be maintained by BioVectra (# of Batches)[***]Batches Estimated Supply Price per BatchDAS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002Date: May 13, 2021By:/s/ Jonathan P. Mow)Jonathan P. Mow Chief Executive Officer/s/ John P. Sharp'John P. 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