$MGTX
MeiraGTx Holdings plc

2019 Q1 Form 10-K Financial Statement

#000119312519086735 Filed on March 26, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q4 2018
Revenue $785.0K $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.500M $9.350M $44.48M
YoY Change -23.56% 262.4% 376.74%
% of Gross Profit
Research & Development $12.98M $2.990M $33.62M
YoY Change 87.32% -48.27% 50.36%
% of Gross Profit
Depreciation & Amortization $499.6K $500.0K $2.053M
YoY Change 8.89% 400.0% 202.31%
% of Gross Profit
Operating Expenses $21.48M $2.990M $78.10M
YoY Change 18.98% -64.23% 146.5%
Operating Profit -$20.69M -$78.10M
YoY Change 14.63% 146.5%
Interest Expense $9.574K -$1.380M $33.43K
YoY Change -65.0% -276.92% -22.01%
% of Operating Profit
Other Income/Expense, Net $0.00 -$1.430M
YoY Change -100.0% 40.2%
Pretax Income -$17.98M -$21.53M -$83.34M
YoY Change 9.63% 150.35% 168.45%
Income Tax $0.00 -$470.0K -$474.4K
% Of Pretax Income
Net Earnings -$17.98M -$21.06M -$82.87M
YoY Change 9.62% 144.88% 166.93%
Net Earnings / Revenue -2290.81%
Basic Earnings Per Share
Diluted Earnings Per Share -$624.7K -$787.9K -$4.373M
COMMON SHARES
Basic Shares Outstanding 33.18M shares 27.39M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q1 2018 Q4 2018
SHORT-TERM ASSETS
Cash & Short-Term Investments $227.3M $68.10M $68.10M
YoY Change 601.54% 701.18%
Cash & Equivalents $227.3M $68.08M $68.10M
Short-Term Investments
Other Short-Term Assets $2.117M $4.634M $6.500M
YoY Change -41.19% 380.1% 116.67%
Inventory
Prepaid Expenses $1.765M $1.938M
Receivables
Other Receivables
Total Short-Term Assets $231.2M $74.65M $74.70M
YoY Change 542.1% 550.56% 549.57%
LONG-TERM ASSETS
Property, Plant & Equipment $15.86M $22.01M $22.00M
YoY Change 8.62% 54.42% 53.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $200.0K $200.0K $200.0K
YoY Change 100.0% 100.0%
Total Long-Term Assets $26.70M $22.24M $22.20M
YoY Change 80.38% 54.69% 54.17%
TOTAL ASSETS
Total Short-Term Assets $231.2M $74.65M $74.70M
Total Long-Term Assets $26.70M $22.24M $22.20M
Total Assets $257.9M $96.89M $96.90M
YoY Change 407.59% 274.77% 274.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.382M $3.043M $3.000M
YoY Change -34.95% -56.87% -57.75%
Accrued Expenses $7.996M $11.99M $12.00M
YoY Change 19.35% 28.49% 29.03%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $33.20M $15.50M $15.50M
YoY Change 138.88% -27.58% -27.57%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $80.20M $300.0K $300.0K
YoY Change 19950.0% 68.14% -25.0%
Total Long-Term Liabilities $80.20M $300.0K $300.0K
YoY Change 19950.0% 68.14% -25.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $33.20M $15.50M $15.50M
Total Long-Term Liabilities $80.20M $300.0K $300.0K
Total Liabilities $113.4M $15.84M $15.80M
YoY Change 693.26% -27.63% -27.85%
SHAREHOLDERS EQUITY
Retained Earnings -$166.3M -$148.3M
YoY Change 126.66%
Common Stock $1.295K $1.064K
YoY Change 211.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $144.4M $81.06M $81.10M
YoY Change
Total Liabilities & Shareholders Equity $257.9M $96.89M $96.90M
YoY Change 407.59% 274.77% 274.13%

Cashflow Statement

Concept 2019 Q1 2018 Q4 2018
OPERATING ACTIVITIES
Net Income -$17.98M -$21.06M -$82.87M
YoY Change 9.62% 144.88% 166.93%
Depreciation, Depletion And Amortization $499.6K $500.0K $2.053M
YoY Change 8.89% 400.0% 202.31%
Cash From Operating Activities $82.17M -$11.47M -$58.89M
YoY Change -572.33% 209.16% 226.15%
INVESTING ACTIVITIES
Capital Expenditures $1.115M -$8.890M $11.26M
YoY Change -7.87% 313.49% 6.86%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.115M -$8.890M -$11.26M
YoY Change -7.87% 313.49% 6.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $80.00M $69.75M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 77.57M -10.00K 130.0M
YoY Change 82.93% -100.11% 572.38%
NET CHANGE
Cash From Operating Activities 82.17M -11.47M -58.89M
Cash From Investing Activities -1.115M -8.890M -11.26M
Cash From Financing Activities 77.57M -10.00K 130.0M
Net Change In Cash 158.6M -20.37M 59.89M
YoY Change 566.59% -722.94% -747.44%
FREE CASH FLOW
Cash From Operating Activities $82.17M -$11.47M -$58.89M
Capital Expenditures $1.115M -$8.890M $11.26M
Free Cash Flow $81.05M -$2.580M -$70.15M
YoY Change -535.61% 65.38% 145.34%

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CY2018 us-gaap Concentration Risk Credit Risk
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt"> <i>Concentrations of Credit Risk</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> The Company maintains its cash and cash equivalents primarily in depository and money market accounts within two large financial institutions in the United States and one large financial institution in the United Kingdom. Cash balances deposited at these major financial banking institutions exceed the insured limit. The Company has not experienced any losses on its bank deposits and believes these deposits do not expose the Company to any significant credit risk.</p> </div>
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CY2018 dei Document Fiscal Year Focus
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CY2018 dei Entity Central Index Key
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CY2018 dei Entity Well Known Seasoned Issuer
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CY2018 dei Entity Registrant Name
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MeiraGTx Holdings plc
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CY2018 dei Entity Small Business
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CY2018 dei Entity Filer Category
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CY2018 dei Trading Symbol
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MGTX
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CY2018 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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21000000
CY2018 mgtx Reclassification Of Warrant Liability Upon Exercise
ReclassificationOfWarrantLiabilityUponExercise
4194408
CY2018 mgtx Adjusted Net Income Loss Available To Common Stockholders Basic And Diluted
AdjustedNetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-84672386
CY2018 mgtx Provisions For Valuation Allowance
ProvisionsForValuationAllowance
0
CY2018 mgtx Promissory Notes Repayment Due Date
PromissoryNotesRepaymentDueDate
2018-12-31
CY2018 mgtx Deferred Tax Assets Tax Credit Carryforward Expiration Year
DeferredTaxAssetsTaxCreditCarryforwardExpirationYear
2036
CY2018 mgtx Operating Loss Carryforwards Expiration Year
OperatingLossCarryforwardsExpirationYear
2036
CY2018 mgtx Promissory Notes Interest Rate
PromissoryNotesInterestRate
0.05 pure
CY2018 mgtx Amortization Of Interest On Asset Retirement Obligation
AmortizationOfInterestOnAssetRetirementObligation
-38301
CY2018 mgtx Accretion Of Stock Issuance Costs
AccretionOfStockIssuanceCosts
-761012
CY2018 mgtx Preferred Shares Issued In Connection With License Agreement
PreferredSharesIssuedInConnectionWithLicenseAgreement
140000
CY2018 mgtx Increase Decrease In Due To And From Related Parties
IncreaseDecreaseInDueToAndFromRelatedParties
-861030
CY2018 mgtx Accretion Of Deferred Financing Costs
AccretionOfDeferredFinancingCosts
1806512
CY2018 mgtx Accretion Of Preferred Stock And Warrants
AccretionOfPreferredStockAndWarrants
-1045500
CY2018 mgtx Income Tax Reconciliation Permanent Differences And Other Taxes
IncomeTaxReconciliationPermanentDifferencesAndOtherTaxes
1438934
CY2018 mgtx Effective Income Tax Rate Reconciliation Permanent Differences And Other Taxes
EffectiveIncomeTaxRateReconciliationPermanentDifferencesAndOtherTaxes
-0.0173 pure
CY2018 mgtx Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential Finance Act2016
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferentialFinanceAct2016
0.17 pure
CY2018 mgtx Tax Cut And Job Act2017 Deferred Tax Assets Valuation Allowance
TaxCutAndJobAct2017DeferredTaxAssetsValuationAllowance
994000
CY2018 mgtx Asset Retirement Obligation Inception
AssetRetirementObligationInception
-69286
CY2018 mgtx Research And Development Expenses Settled By Shares Issuance
ResearchAndDevelopmentExpensesSettledBySharesIssuance
2990250
CY2018 mgtx Issuance Repayment Of Note Payable
IssuanceRepaymentOfNotePayable
1442009
CY2018Q1 mgtx Repayment Of Promissory Notes
RepaymentOfPromissoryNotes
1472433

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