Aravive, Inc.

2020 Q4 Form 10-K Financial Statement

#000156459021013312 Filed on March 16, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2020 2019 Q4

Balance Sheet

Concept 2020 Q4 2020 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $60.50M $60.50M $65.10M
YoY Change -7.07% -7.07% 14.21%
Cash & Equivalents $60.54M $60.50M $65.13M
Short-Term Investments
Other Short-Term Assets $16.00K $900.0K $500.0K
YoY Change -96.8% 80.0% 25.0%
Inventory
Prepaid Expenses $870.0K $531.0K
Receivables
Other Receivables
Total Short-Term Assets $61.69M $61.70M $68.21M
YoY Change -9.56% -9.53% 17.55%
LONG-TERM ASSETS
Property, Plant & Equipment $526.0K $3.500M $1.808M
YoY Change -70.91% -66.67% 5550.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.00K $2.400M $761.0K
YoY Change -98.69% -25.0% 3705.0%
Total Long-Term Assets $6.021M $6.000M $13.91M
YoY Change -56.71% -56.83% 21.57%
TOTAL ASSETS
Total Short-Term Assets $61.69M $61.70M $68.21M
Total Long-Term Assets $6.021M $6.000M $13.91M
Total Assets $67.71M $67.70M $82.12M
YoY Change -17.55% -17.54% 18.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.500M $2.500M $1.078M
YoY Change 131.91% 127.27% 153.05%
Accrued Expenses $2.323M $4.400M $1.497M
YoY Change 55.18% 12.82% 9.67%
Deferred Revenue $2.552M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.461M $9.500M $4.968M
YoY Change 90.44% 90.0% 156.48%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $10.20M $10.20M $8.100M
YoY Change 25.93% 25.93% 2600.0%
Total Long-Term Liabilities $10.20M $10.20M $8.100M
YoY Change 25.93% 25.93% 6.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.461M $9.500M $4.968M
Total Long-Term Liabilities $10.20M $10.20M $8.100M
Total Liabilities $19.66M $19.70M $13.07M
YoY Change 50.36% 50.38% 37.24%
SHAREHOLDERS EQUITY
Retained Earnings -$500.7M -$470.1M
YoY Change 6.5% 4.34%
Common Stock $548.7M $539.2M
YoY Change 1.77% 5.61%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $48.06M $48.10M $69.05M
YoY Change
Total Liabilities & Shareholders Equity $67.71M $67.70M $82.12M
YoY Change -17.55% -17.54% 18.21%

Cashflow Statement

Concept 2020 Q4 2020 2019 Q4

Facts In Submission

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<p style="margin-bottom:0pt;margin-top:8pt;margin-left:2.27%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Concentration of <font style="text-transform:uppercase;">c</font>redit <font style="text-transform:uppercase;">r</font>isk </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:2.27%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash and cash equivalents. All of the Company&#8217;s cash and cash equivalents are held at several financial institutions that management believes are of high credit quality. Such deposits may exceed federally insured limits.</p>
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The Company will also be entitled to receive tiered royalties ranging from low double digits to mid-teens on sales in the Territory, if any, of products containing AVB-500. Royalties are payable with respect to each jurisdiction in the Territory until the latest to occur of: (i) the last-to-expire of specified patent rights in such jurisdiction in the Territory; (ii) expiration of marketing or regulatory exclusivity in such jurisdiction in the Territory; or (iii) ten (10) years after the first commercial sale of a product in such jurisdiction in the Territory. In addition, royalties payable under the Agreement will be subject to reduction on account of generic competition under certain specified conditions, with any such reductions capped at certain percentages of the amounts otherwise payable during the applicable royalty payment period.
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CY2020 arav Percentage Of Milestone Based Contingent Payments Payable In Cash
PercentageOfMilestoneBasedContingentPaymentsPayableInCash
0.075
CY2020Q4 arav Contingent Payable
ContingentPayable
300000
CY2020 us-gaap Common Stock Voting Rights
CommonStockVotingRights
One
CY2020 us-gaap Dividends Common Stock
DividendsCommonStock
0
CY2020Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3774712
CY2019Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3253969
CY2019Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
3633334
CY2019Q4 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
25100000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1515923
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
483328
CY2019 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
39686
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
139405
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1820160
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
799460
CY2020 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
114515
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
331329
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2173776
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
9.19
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.120
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.110
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.010
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.024
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1966000
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3399000
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.12
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.23
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.01
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.01
CY2020 arav Effective Income Tax Rate Reconciliation Nondeductible Expense Stock Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseStockBasedCompensationCost
-0.08
CY2019 arav Effective Income Tax Rate Reconciliation Nondeductible Expense Stock Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseStockBasedCompensationCost
-0.07
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Leases
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseLeases
0.10
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.00
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.00
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
10988000
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
5869000
CY2020Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
90000
CY2019Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
90000
CY2020Q4 arav Deferred Tax Assets Stock Based Compensation And Other
DeferredTaxAssetsStockBasedCompensationAndOther
2860000
CY2019Q4 arav Deferred Tax Assets Stock Based Compensation And Other
DeferredTaxAssetsStockBasedCompensationAndOther
5099000
CY2020Q4 arav Deferred Tax Assets Operating Lease Obligation
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1789000
CY2019Q4 arav Deferred Tax Assets Operating Lease Obligation
DeferredTaxAssetsOperatingLeaseObligation
2149000
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
15727000
CY2019Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
13207000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
15106000
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
11326000
CY2019Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
55000
CY2020Q4 arav Deferred Tax Liabilities Operating Lease Right Of Use Assets
DeferredTaxLiabilitiesOperatingLeaseRightOfUseAssets
621000
CY2019Q4 arav Deferred Tax Liabilities Operating Lease Right Of Use Assets
DeferredTaxLiabilitiesOperatingLeaseRightOfUseAssets
1826000
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
3.8
CY2019 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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4300000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
39000
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
39000
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
72000
CY2019 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
72000
CY2019 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
39000
CY2020 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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15000
CY2019 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0
CY2020 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0

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