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: December 2018 (Report No. 3)

 

Commission file number: 001-36578

 

BIOBLAST PHARMA LTD.

(Translation of registrant’s name into English)

 

PO Box 318, Tel-Aviv, Israel 6100201

(Address of principal executive offices)

 

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 x        Form 40-F ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulations S-T Rule 101(b)(1): ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulations S-T Rule 101(b)(7): ¨

 

 

 

 

 

Attached hereto and incorporated into this Form 6-K is Exhibit 99.1, which includes unaudited financial information about Bioblast Pharma Ltd.’s (the “Registrant”) as of and for the six months ended June 30, 2018. Exhibit 99.1 is furnished herewith solely for the purpose of meeting the requirements of Nasdaq Stock Market Rule 5250(c)(2) in connection with the submission of an interim balance sheet and income statement as of the end of the Registrant’s second quarter.

 

Exhibit 99.1 attached to this Form 6-K of the Registrant is incorporated by reference into the registration statements on Form S-8 (File No. 333-203114 and File No. 333-210459) of the Registrant, filed with the Securities and Exchange Commission, to be a part thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished. 

 

Exhibit No.

 

99.1

Unaudited Financial Information as of and for the six months ended June 30, 2018.

 

 

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.

 

  Bioblast Pharma Ltd.
  (Registrant)
     
     
  By: /s/ Dr. Dalia Megiddo
  Name: Dr. Dalia Megiddo
Interim Chief Executive Officer

 

Date: December 31, 2018

 

 

 

 

Exhibit 99.1

 

 

Unaudited Financial Information as of and for the Six Months Ended June 30, 2018

 

In compliance with Nasdaq Stock Market Rule 5250(c)(2), Bioblast Pharma Ltd. (the “Company”) hereby furnishes its unaudited consolidated statement of operations for the six months ended June 30, 2018 and its unaudited consolidated balance sheet as of June 30, 2018.

 

Consolidated Statement of Operations

 

(U.S. dollars in thousands, except share and per share amounts)

 

         
CONSOLIDATED STATEMENT OF OPERATIONS        
U.S. dollars        
         
         
   Six Months Ended 
   June 30   June 30 
   2018   2017 
   (Unaudited)   (Unaudited) 
         
Research and development  $159   $1,982 
Pre-commercialization   -    471 
General and administrative   1,525    1,838 
Total operating expenses   1,684    4,291 
           
Loss from operations   (1,684)   (4,291)
           
Financial income, net   7    29 
           
Loss before taxes on income   (1,677)   (4,262)
           
Taxes on income   17    43 
           
Net loss  $(1,694)  $(4,305)
           
Net loss attributable to Ordinary shareholders  $(1,694)  $(4,305)
           
Net loss per share attributable to Ordinary shareholders - basic and diluted  $(0.50)  $(1.31)
           
Weighted average number of Ordinary shares outstanding - basic and diluted   3,356,523    3,284,489 

 

 

 

 

 

Bioblast Pharma Ltd.

 

Consolidated Balance Sheet

 

(U.S. dollars in thousands, except share amounts)

 

CONSOLIDATED BALANCE SHEET        
U.S. dollars        
         
   June 30, 2018   December 31, 2017 
    (Unaudited)    (Audited) 
ASSETS          
CURRENT ASSETS:          
Cash and cash equivalents  $1,674   $3,526 
Short-term bank deposits   -    - 
Receivables and prepaid expenses   30    96 
Property and equipment, net   -    - 
Total current assets   1,704    3,622 
           
LONG-TERM ASSETS:   -    - 
           
TOTAL ASSETS  $1,704   $3,622 
           
LIABILITIES AND SHAREHOLDERS' EQUITY          
CURRENT LIABILITIES:          
Trade payables  $13   $19 
Other accounts payable   131    441 
Total current liabilities   144    460 
           
           
LONG-TERM LIABILITIES   -    - 
           
SHAREHOLDERS' EQUITY:          
Ordinary shares of NIS 0.01 par value - 10,000,000 shares authorized at June 30, 2018 and December 31, 2017; Issued and outstanding shares 3,359,109 at June 30, 2018 and 3,342,393 at December 31, 2017   46    45 
Additional paid-in capital   48,962    48,871 
Accumulated deficit   (47,448)   (45,754)
Total stockholders' equity   1,560    3,162 
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY  $1,704   $3,622