ࡱ;   !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~Root Entry  \pCalc Ba=8 =@ 8X@"1Calibri1Arial1Arial1Arial1Calibri General3._(\$* #,##0_);_(\$* \(#,##0\);_(\$* \-_);_(@_) #,##0\(#,##0_);[RED]\(#,##0\)!"($"#,##0_);[RED]"($"#,##0\)'""($"#,##0.00_);[RED]"($"#,##0.00\) #,##0.00                + ) , *   (  (8  ,  ,  ,  ,  , "8  , ` /condensed balance sheets"6Bcondensed statements of op"fXcondensed statements of st"vcondensed statements of ca`net loss per share"̜notes to condensed financi 4 property and equipment"N5 accrued expenses and oth$notes to condensed financi-1$jnotes to condensed financi-2$(notes to condensed financi-3$notes to condensed financi-4stockbased compensation",comparison of the three mo"rresearch and development e$research and development e-1"comparison of the six mont$~research and development e-2$ research and development e-3  cash flowsitem 6 exhibitsitem 6 exhibits-183 agreement&6 agreement-1"v8as adopted pursuant to sec$F;as adopted pursuant to sec-1">section 906 of the sarbane$@section 906 of the sarbane-1T2*p     3  @@   CONDENSED BALANCE SHEETSJune 30, 2022December 31, 2021AssetsCurrent 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' deficitCurrent liabilities:!Current portion of long-term debt.Current portion of deferred sublicense revenueAccounts payable.Accrued expenses and other current liabilitiesTotal current liabilitiesLong-term debt, net Operating lease liabilities, net0Long-term portion of deferred sublicense revenue Development derivative liabilityOther long-term liabilitiesTotal liabilities1Commitments and contingencies (Note 8, 9, 10, 13)Stockholders deficit:Preferred stock, $0.001 par value; 10,000,000 shares authorized; zero shares issued and outstanding at June30, 2022 and December31, 2021Common stock, $0.001 par value; 200,000,000 shares authorized; 49,888,083 shares issued and 49,858,116 shares outstanding at June30, 2022; 48,220,557 shares issued and 48,190,590 shares outstanding at December31, 2021PTreasury stock, at cost, 29,967 shares as of June30, 2022 and December31, 2021Additional paid-in capitalAccumulated deficitTotal stockholders deficit+Total liabilities and stockholders' deficit"CONDENSED STATEMENTS OF OPERATIONSThree Months Ended June 30,Six Months Ended June 30,20222021Revenue:Sublicense revenue Total revenueOperating expenses:Research and developmentGeneral and administrativeTotal operating expensesLoss from operationsOther income/(expense):BGain/(loss) from remeasurement of development derivative liabilityInterest incomeInterest expenseForeign exchange gain/(loss)Total other income/(expense)Net loss before income taxesProvision for income taxesNet 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, 2021Issuance of common stock, netStock-based compensationBalance at March 31, 2022Exercises of stock options;Issuance of common stock under employee stock purchase planBalance at June 30, 2022Balance at December 31, 20200Issuance of common stock in public offering, netExercise of stock optionsBalance at March 31, 2021Balance at June 30, 2021"CONDENSED STATEMENTS OF CASH FLOWSOperating activitiesKAdjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortizationB(Gain)/loss from remeasurement of development derivative liabilityNon-cash interest expense)Non-cash research and development expense,Changes in operating assets and liabilities:Receivable from sublicenseDeferred sublicense revenue%Net cash used in operating activitiesInvesting activities#Purchases of property and equipment%Net cash used in investing activitiesFinancing activities>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 debt3Net cash (used in)/provided by financing activities4Net (decrease)/increase 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 activitiesQPurchases of property and equipment by incurring development derivative liability$ UPurchases of property and equipment included in accounts payable and accrued expensesNet Loss Per ShareAs of June 30,Common stock options!Warrants to purchase common stockEmployee stock purchase planUnvested restricted stock unitsTotal'Notes to Condensed Financial Statements)Fair Value Measurements at Reporting DateLevel 1Level 2Level 3As of June 30, 2022:Assets:Cash equivalents Liabilities:)Development derivative liability (Note 8)As of December 31, 2021:4. Property and EquipmentAs of June 30, 2022As of December 31, 2021 Lab equipment)Computer hardware, software and telephoneFurniture and fixturesLeasehold improvementsConstruction in progressLess accumulated depreciation55. Accrued Expenses and Other Current Liabilities"Accrued clinical and related costs&Accrued compensation and related costs(Accrued final payment liability (Note 6)Accrued interest,Current portion of operating lease liability Accrued otherYears Ending December 31,2022 (remaining six months)2023Total principal paymentsLess unamortized loan feesTotal term loan borrowingsTransaction Price(Cumulative Sublicense Revenue RecognizedDeferred Sublicense RevenueLicense#Development and Regulatory ServicesSupply of License Product=Less current portion of long-term deferred sublicense revenue+Total long-term deferred sublicense revenue Development Derivative LiabilityFunding during the periodChange in fair valueYear Ending December 31,202420252026#Total future minimum lease paymentsLess present value adjustmentsOperating lease liabilitiesStock-Based CompensationThree Months Ended June 30,Six Months Ended June 30,Total stock-based compensation;Comparison of the Three Months Ended June 30, 2022 and 2021ChangeForeign exchange gain 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 development9Comparison of the Six Months Ended June 30, 2022 and 2021 Cash Flows3Net cash (used in) provided by financing activities4Net (decrease) increase in cash and cash equivalentsItem 6. ExhibitsIncorporated 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, 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.S-1September 21, 2018Fourth 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, 202010.1#+LForm of RSU Grant Notice and Award Agreement fo<;r 2018 Equity Incentive Plan.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 2002.32.1*Certification of Chief Executive Officer (Principal Executive Officer),pursuant to 18 U.S.C. 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