2017 Q1 Form 10-Q Financial Statement
#000156459017011039 Filed on May 15, 2017
Income Statement
Concept | 2017 Q1 | 2016 Q1 |
---|---|---|
Revenue | $0.00 | $0.00 |
YoY Change | ||
Cost Of Revenue | ||
YoY Change | ||
Gross Profit | ||
YoY Change | ||
Gross Profit Margin | ||
Selling, General & Admin | $1.210M | $1.140M |
YoY Change | 6.14% | 10.68% |
% of Gross Profit | ||
Research & Development | $770.7K | $2.015M |
YoY Change | -61.75% | -16.73% |
% of Gross Profit | ||
Depreciation & Amortization | ||
YoY Change | ||
% of Gross Profit | ||
Operating Expenses | $1.980M | $3.153M |
YoY Change | -37.19% | -8.49% |
Operating Profit | -$1.980M | -$3.153M |
YoY Change | -37.19% | -8.49% |
Interest Expense | $964.00 | -$72.58K |
YoY Change | -101.33% | -194.2% |
% of Operating Profit | ||
Other Income/Expense, Net | -$3.072M | -$72.58K |
YoY Change | 4132.27% | -3.9% |
Pretax Income | -$5.050M | -$3.230M |
YoY Change | 56.35% | -8.24% |
Income Tax | ||
% Of Pretax Income | ||
Net Earnings | -$5.052M | -$3.225M |
YoY Change | 56.63% | -8.39% |
Net Earnings / Revenue | ||
Basic Earnings Per Share | -$0.37 | |
Diluted Earnings Per Share | -$0.37 | -$450.5K |
COMMON SHARES | ||
Basic Shares Outstanding | 13.53M | |
Diluted Shares Outstanding | 13.53M |
Balance Sheet
Concept | 2017 Q1 | 2016 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $14.66M | $6.100M |
YoY Change | 140.33% | -47.82% |
Cash & Equivalents | $14.65M | $6.100M |
Short-Term Investments | ||
Other Short-Term Assets | $170.0K | $770.0K |
YoY Change | -77.92% | 3159.4% |
Inventory | ||
Prepaid Expenses | ||
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $14.83M | $6.870M |
YoY Change | 115.87% | -45.36% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | ||
YoY Change | ||
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $11.55K | $0.00 |
YoY Change | -100.0% | |
Total Long-Term Assets | $10.00K | $0.00 |
YoY Change | -100.0% | |
TOTAL ASSETS | ||
Total Short-Term Assets | $14.83M | $6.870M |
Total Long-Term Assets | $10.00K | $0.00 |
Total Assets | $14.84M | $6.870M |
YoY Change | 116.01% | -45.57% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $550.0K | $1.240M |
YoY Change | -55.65% | -8.15% |
Accrued Expenses | $590.0K | $480.0K |
YoY Change | 22.92% | 14.29% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | $710.0K | |
YoY Change | -0.41% | |
Total Short-Term Liabilities | $1.140M | $2.430M |
YoY Change | -53.09% | -2.79% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $3.680M |
YoY Change | -100.0% | -0.22% |
Other Long-Term Liabilities | $5.770M | |
YoY Change | ||
Total Long-Term Liabilities | $5.770M | $3.680M |
YoY Change | 56.79% | -0.22% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $1.140M | $2.430M |
Total Long-Term Liabilities | $5.770M | $3.680M |
Total Liabilities | $6.900M | $6.120M |
YoY Change | 12.75% | -1.1% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | ||
YoY Change | ||
Common Stock | ||
YoY Change | ||
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $7.930M | $760.0K |
YoY Change | ||
Total Liabilities & Shareholders Equity | $14.84M | $6.870M |
YoY Change | 116.01% | -45.57% |
Cashflow Statement
Concept | 2017 Q1 | 2016 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$5.052M | -$3.225M |
YoY Change | 56.63% | -8.39% |
Depreciation, Depletion And Amortization | ||
YoY Change | ||
Cash From Operating Activities | -$1.690M | -$2.690M |
YoY Change | -37.17% | -10.33% |
INVESTING ACTIVITIES | ||
Capital Expenditures | ||
YoY Change | ||
Acquisitions | ||
YoY Change | ||
Other Investing Activities | ||
YoY Change | ||
Cash From Investing Activities | ||
YoY Change | ||
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | $7.335M | $98.74K |
YoY Change | 7328.04% | -81.43% |
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | 7.330M | 100.0K |
YoY Change | 7230.0% | -81.13% |
NET CHANGE | ||
Cash From Operating Activities | -1.690M | -2.690M |
Cash From Investing Activities | ||
Cash From Financing Activities | 7.330M | 100.0K |
Net Change In Cash | 5.640M | -2.590M |
YoY Change | -317.76% | 4.86% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$1.690M | -$2.690M |
Capital Expenditures | ||
Free Cash Flow | ||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2016Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1137753 | |
CY2016Q1 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-72580 | |
CY2017Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
3072747 | |
CY2017Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1209570 | |
CY2017Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
11551 | |
CY2016Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-72580 | |
CY2016Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3225409 | |
CY2016Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.45 | |
CY2016Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
7168005 | |
CY2017Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1980256 | |
CY2017Q1 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
964 | |
CY2017Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
1980256 | |
CY2016Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
3152829 | |
CY2016Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-3152829 | |
CY2016Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
418912 | |
CY2016Q1 | us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
10362 | |
CY2017Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-104184 | |
CY2016Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-68555 | |
CY2017Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-275862 | |
CY2016Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
37379 | |
CY2017Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-1686812 | |
CY2016Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-2690201 | |
CY2017Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
7334739 | |
CY2016Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
98744 | |
CY2017Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
7334739 | |
CY2016Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
98744 | |
CY2017Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
5647927 | |
CY2016Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
6099698 | |
CY2016Q1 | us-gaap |
Interest Paid
InterestPaid
|
62563 | |
CY2016Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-2591457 | |
CY2015Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
8691155 | |
CY2017Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ materially from those estimates. </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company also relies on contract research organizations (“CROs”) to manage and recruit subjects for its clinical trials. If these CROs are unable to continue managing the clinical trials, or are unable to recruit the sufficient number of subjects, the delays could adversely affect the completion of the trials and the timing of the filing of the Company’s NDA with FDA.</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In addition, the Company relies on third-party manufacturers for the production of its drug candidate. If the third-party manufacturers are unable to continue manufacturing the Company’s drug candidate, or if the Company loses one of its sole source suppliers used in its manufacturing processes, the Company may not be able to meet clinical trial supply demand for its product candidate and the development of the product candidate could be materially and adversely affected<font style="font-size:9pt;">.</font></p></div> | |
CY2016 | us-gaap |
Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
|
P5Y29D | |
CY2017Q1 | us-gaap |
Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
|
0.000 | |
CY2016 | us-gaap |
Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
|
0.000 | |
CY2017Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
4773370 | |
CY2007Q2 | us-gaap |
Research And Development In Process
ResearchAndDevelopmentInProcess
|
650000 | |
CY2017Q1 | evok |
Value Of Shares Sold In Prior Twelve Months
ValueOfSharesSoldInPriorTwelveMonths
|
4800000 | |
CY2017Q1 | us-gaap |
Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
|
80000 | |
CY2016Q1 | us-gaap |
Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
|
99000 | |
CY2017Q1 | us-gaap |
Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
|
P4Y9M29D | |
CY2017Q1 | evok |
Entity Incorporation Month And Year Of Incorporation
EntityIncorporationMonthAndYearOfIncorporation
|
2007-01 | |
CY2017Q1 | us-gaap |
Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
|
45000 | |
CY2016Q1 | us-gaap |
Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
|
45000 | |
CY2017Q1 | us-gaap |
Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
|
50244 | |
CY2016Q1 | us-gaap |
Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
|
34067 | |
CY2017Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
2600000 | |
CY2017Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P1Y3M18D | |
CY2017Q1 | us-gaap |
Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
|
0.0193 | |
CY2016 | us-gaap |
Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
|
0.0193 | |
CY2017Q1 | us-gaap |
Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
|
1.0144 | |
CY2016 | us-gaap |
Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
|
0.9419 | |
CY2017Q1 | us-gaap |
Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
|
0 | |
CY2017Q1 | us-gaap |
Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
|
0 | |
CY2017Q1 | us-gaap |
Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
|
0 | |
CY2017Q1 | us-gaap |
Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
|
0 |