$MNOV
MEDICINOVA INC

2015 Q3 Form 10-Q Financial Statement

#000156459015005883 Filed on July 30, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2015 Q2 2014 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.010M $1.480M $1.300M
YoY Change -30.34% 13.85% -29.35%
% of Gross Profit
Research & Development $500.0K $700.0K $700.0K
YoY Change -37.5% 0.0% -12.5%
% of Gross Profit
Depreciation & Amortization $0.00 $10.00K $10.00K
YoY Change -100.0% 0.0% -75.0%
% of Gross Profit
Operating Expenses $1.594K $2.277K $2.131K
YoY Change -32.03% 6.85% -99.92%
Operating Profit -$1.594M -$2.277M -$2.131M
YoY Change -32.03% 6.86% -23.57%
Interest Expense $10.00K $10.00K $181.00
YoY Change 5680.35% 5424.86% -98.19%
% of Operating Profit
Other Income/Expense, Net -$20.00K -$10.00K $0.00
YoY Change
Pretax Income -$1.607M -$2.285M -$2.120M
YoY Change -31.31% 7.78% -23.85%
Income Tax $1.383K $1.661K $1.547K
% Of Pretax Income
Net Earnings -$1.608K -$2.287K -$2.122K
YoY Change -31.28% 7.78% -99.92%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$59.78K -$92.23K -$87.82K
COMMON SHARES
Basic Shares Outstanding 24.89M 24.88M shares 24.15M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q3 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.60M $8.600M $13.50M
YoY Change 98.32% -36.3% 12.5%
Cash & Equivalents $23.61M $8.581M $13.50M
Short-Term Investments
Other Short-Term Assets $700.0K $1.000M $900.0K
YoY Change 0.0% 11.11% 80.0%
Inventory
Prepaid Expenses
Receivables $0.00
Other Receivables $0.00
Total Short-Term Assets $24.30M $9.602M $14.40M
YoY Change 92.39% -33.34% 15.26%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $26.71K $65.69K
YoY Change -100.0% -59.34% -37.75%
Goodwill $9.600M $9.600M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $700.0K $700.0K $700.0K
YoY Change 0.0% 0.0% 0.0%
Other Assets $200.0K $0.00 $0.00
YoY Change
Total Long-Term Assets $15.30M $15.12M $15.16M
YoY Change 0.95% -0.28% -0.13%
TOTAL ASSETS
Total Short-Term Assets $24.30M $9.602M $14.40M
Total Long-Term Assets $15.30M $15.12M $15.16M
Total Assets $39.60M $24.72M $29.56M
YoY Change 42.51% -16.39% 6.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $400.0K $177.6K $38.03K
YoY Change 25.91% 366.89% -70.93%
Accrued Expenses $900.0K $464.1K $633.6K
YoY Change 231.32% -26.74% 39.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.300M $1.107M $1.096M
YoY Change 14.56% 0.96% 1.93%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.700M $1.700M $1.700M
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Liabilities $1.700M $1.700M $1.700M
YoY Change 0.0% 0.0% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.300M $1.107M $1.096M
Total Long-Term Liabilities $1.700M $1.700M $1.700M
Total Liabilities $5.000M $4.774M $4.763M
YoY Change 4.11% 0.23% 0.79%
SHAREHOLDERS EQUITY
Retained Earnings -$315.1M -$305.9M
YoY Change 3.02% 1.47%
Common Stock $24.89K $24.15K
YoY Change 3.09% 9.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $34.60M $19.95M $24.80M
YoY Change
Total Liabilities & Shareholders Equity $39.60M $24.72M $29.56M
YoY Change 42.51% -16.39% 6.82%

Cashflow Statement

Concept 2015 Q3 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income -$1.608K -$2.287K -$2.122K
YoY Change -31.28% 7.78% -99.92%
Depreciation, Depletion And Amortization $0.00 $10.00K $10.00K
YoY Change -100.0% 0.0% -75.0%
Cash From Operating Activities -$1.170M -$1.240M -$1.330M
YoY Change -26.42% -6.77% -36.67%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 16.20M 740.0K 40.00K
YoY Change 53900.0% 1750.0% -99.64%
NET CHANGE
Cash From Operating Activities -1.170M -1.240M -1.330M
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 16.20M 740.0K 40.00K
Net Change In Cash 15.03M -500.0K -1.290M
YoY Change -1063.46% -61.24% -114.35%
FREE CASH FLOW
Cash From Operating Activities -$1.170M -$1.240M -$1.330M
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$1.170M -$1.240M -$1.330M
YoY Change -26.42% -6.77% -35.44%

Facts In Submission

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<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the accompanying notes. Actual results could differ from those estimates.</p></div>
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4096969
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3147731
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.00
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.09
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.70
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.16
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y2M19D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y3M22D
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2876323
CY2015Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2122856
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
mnov Stock Issuance Limit Under Employee Stock Purchase Plan Description
StockIssuanceLimitUnderEmployeeStockPurchasePlanDescription
Shares reserved automatically increase each year by a number equal to the lesser of: (i) 15,000 shares; (ii) 1% of the outstanding shares of common stock on the last day of the immediately preceding fiscal year; or (iii) such lesser amount as determined by the Board.
mnov Percentage Of Employee Compensation For Purchase Of Common Stock Under Espp
PercentageOfEmployeeCompensationForPurchaseOfCommonStockUnderEspp
Cannot exceed 15%
mnov Common Stock Fair Market Value Percentage
CommonStockFairMarketValuePercentage
0.85
mnov Agreement Termination Date
AgreementTerminationDate
2015-05-22
CY2011 mnov Common Shares In Underwritten Public Offering
CommonSharesInUnderwrittenPublicOffering
2800666
CY2011 mnov Common Stock Issued Under Underwritten Public Offering Price Per Share
CommonStockIssuedUnderUnderwrittenPublicOfferingPricePerShare
3.00
CY2011Q4 mnov Underwritten Public Offering Price Value
UnderwrittenPublicOfferingPriceValue
8250000
CY2012Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
130000
CY2012Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.88
CY2014Q2 mnov Class Of Warrant Or Right Exercisable
ClassOfWarrantOrRightExercisable
15000
CY2014Q2 mnov Class Of Warrant Or Right Vested
ClassOfWarrantOrRightVested
0
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
28200
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9753036
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9141034

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