$MRUS
Merus N.V.

2020 Q1 Form 10-K Financial Statement

#000156459020011100 Filed on March 16, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q4 2018 Q4
Revenue $6.301M $7.790M $10.82M
YoY Change -28.64% -28.0% 51.33%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.880M $9.330M $19.62M
YoY Change 31.75% -52.45% 634.83%
% of Gross Profit
Research & Development $16.99M $19.60M $13.36M
YoY Change 43.96% 46.71% 2.69%
% of Gross Profit
Depreciation & Amortization $258.0K $330.0K $330.0K
YoY Change 3.2% 0.0% 230.0%
% of Gross Profit
Operating Expenses $25.87M $28.93M $22.87M
YoY Change 39.53% 26.5% 23.76%
Operating Profit -$19.57M
YoY Change
Interest Expense $3.170M -$2.730M $1.870M
YoY Change 11.23% -245.99% -185.0%
% of Operating Profit
Other Income/Expense, Net $3.165M $200.0K
YoY Change
Pretax Income -$16.40M -$25.47M -$90.00K
YoY Change 139.11% 28200.0% -99.36%
Income Tax $97.00K -$50.00K -$40.00K
% Of Pretax Income
Net Earnings -$16.50M -$25.43M -$50.00K
YoY Change 132.95% 50760.0% -99.65%
Net Earnings / Revenue -261.86% -326.44% -0.46%
Basic Earnings Per Share
Diluted Earnings Per Share -$569.9K -$952.1K -$2.142K
COMMON SHARES
Basic Shares Outstanding 29.00M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 Q4 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $214.0M $239.8M $235.4M
YoY Change 5.11% 1.87% 6.81%
Cash & Equivalents $165.8M $197.6M $164.7M
Short-Term Investments $48.20M $42.20M $70.80M
Other Short-Term Assets $1.879M $1.124M $2.383M
YoY Change -59.15% -52.83% 58.87%
Inventory
Prepaid Expenses
Receivables $1.500M $941.0K $3.400M
Other Receivables $200.0K $200.0K $200.0K
Total Short-Term Assets $225.5M $247.4M $243.4M
YoY Change 5.52% 1.63% 7.84%
LONG-TERM ASSETS
Property, Plant & Equipment $8.400M $3.715M $5.200M
YoY Change 47.37% -28.56% 271.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $2.000M $0.00
YoY Change -100.0% -100.0%
Other Assets $1.400M $1.905M $1.400M
YoY Change 100.0% 36.07% 600.0%
Total Long-Term Assets $12.50M $16.01M $9.600M
YoY Change -49.19% 66.75% -7.69%
TOTAL ASSETS
Total Short-Term Assets $225.5M $247.4M $243.4M
Total Long-Term Assets $12.50M $16.01M $9.600M
Total Assets $238.0M $263.4M $253.0M
YoY Change -0.13% 4.1% 7.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.400M $3.029M $3.200M
YoY Change -15.0% -5.34% -5.88%
Accrued Expenses $12.16M $13.54M $11.20M
YoY Change 406.63% 20.86% 261.29%
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 $35.60M $36.79M $33.96M
YoY Change 6.59% 8.33% 2.29%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $87.80M $95.30M $113.2M
YoY Change -18.17% -15.81% -16.15%
Total Long-Term Liabilities $87.80M $95.30M $113.2M
YoY Change -18.17% -15.81% -16.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $35.60M $36.79M $33.96M
Total Long-Term Liabilities $87.80M $95.30M $113.2M
Total Liabilities $123.4M $132.1M $147.1M
YoY Change -12.3% -10.22% -12.54%
SHAREHOLDERS EQUITY
Retained Earnings -$331.1M -$314.6M -$259.4M
YoY Change 21.26%
Common Stock $444.3M $362.4M
YoY Change 22.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $114.6M $131.3M $105.9M
YoY Change
Total Liabilities & Shareholders Equity $238.0M $263.4M $253.0M
YoY Change -0.13% 4.11% 7.15%

Cashflow Statement

Concept 2020 Q1 2019 Q4 2018 Q4
OPERATING ACTIVITIES
Net Income -$16.50M -$25.43M -$50.00K
YoY Change 132.95% 50760.0% -99.65%
Depreciation, Depletion And Amortization $258.0K $330.0K $330.0K
YoY Change 3.2% 0.0% 230.0%
Cash From Operating Activities -$25.26M -$19.75M -$9.420M
YoY Change 86.97% 109.66% -13.42%
INVESTING ACTIVITIES
Capital Expenditures $148.0K -$310.0K -$3.030M
YoY Change -64.85% -89.77% 1277.27%
Acquisitions
YoY Change
Other Investing Activities -$3.840M $4.450M $5.970M
YoY Change -145.44% -25.46% -112.68%
Cash From Investing Activities -$3.988M $4.150M $2.930M
YoY Change -150.77% 41.64% -106.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$164.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 438.0K 74.18M 8.830M
YoY Change 1464.29% 740.09% 206.6%
NET CHANGE
Cash From Operating Activities -25.26M -19.75M -9.420M
Cash From Investing Activities -3.988M 4.150M 2.930M
Cash From Financing Activities 438.0K 74.18M 8.830M
Net Change In Cash -31.81M 58.58M 2.340M
YoY Change 316.88% 2403.42% -104.23%
FREE CASH FLOW
Cash From Operating Activities -$25.26M -$19.75M -$9.420M
Capital Expenditures $148.0K -$310.0K -$3.030M
Free Cash Flow -$25.41M -$19.44M -$6.390M
YoY Change 82.38% 204.23% -40.06%

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<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1. The Company </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Merus N.V. is a clinical-stage immuno-oncology company developing innovative bispecific antibody therapeutics, headquartered in Utrecht, the Netherlands. Merus US, Inc. is a wholly-owned subsidiary of Merus N.V. located at 139 Main Street, Cambridge, Massachusetts, United States (collectively, the &#8220;Company&#8221;).</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Since inception, the Company has generated an accumulated loss of $314.6 million as of December&#160;31, 2019. The Company expects to continue to incur significant expenses and operating losses for the foreseeable future as its bispecific antibody candidates advance through discovery, pre-clinical development and clinical trials and as it seeks regulatory approval and pursues commercialization of any approved bispecific antibody candidate.</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As a result, the Company may need additional financing to support its continuing operations. Until the Company can generate significant revenue from product sales, if ever, the Company expects to finance its operations through public equity offerings, debt financings, or other sources, which may include collaborations with third parties and business development opportunities. Adequate additional financing may not be available to the Company on acceptable terms, or at all. The Company&#8217;s inability to raise capital as and when needed would have a negative impact on its financial condition and ability to pursue its business strategy. The Company will need to generate significant revenues to achieve profitability and may never do so.</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Based on the Company&#8217;s current operating plan, the Company expects that its existing cash and cash equivalents and marketable securities of $241.8 million as of December&#160;31, 2019 will be sufficient to fund its operations into 2022.</p>
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;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 these consolidated financial statements in accordance with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities, as of the date of the consolidated financial statements, and the reported amounts of collaboration revenue and expenses during the reporting period. Actual results and outcomes may differ materially from management&#8217;s estimates, judgments and assumptions. </p>
CY2019 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-bottom:0pt;margin-top:12pt;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 Credit Risk </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;">Financial instruments that potentially subject the Company to concentrations of credit risk include cash, cash equivalents, marketable securities and accounts receivable. The Company attempts to minimize the risks related to cash, cash equivalents and marketable securities by working with highly rated financial institutions that invest in a broad and diverse range of financial instruments as defined by the Company. The Company has established guidelines relative to credit ratings and maturities intended to safeguard principal balances and maintain liquidity. The Company maintains its funds in accordance with its investment policy, which defines allowable investments, specifies credit quality standards and is designed to limit the Company&#8217;s credit exposure to any single issuer. </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;">Accounts <font style="color:#000000;">receivable</font> represent amounts due from collaboration partners. The Company monitors economic conditions to identify facts or circumstances that may indicate that any of its accounts receivable are at risk of collection. </p>
CY2019Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
241800000
CY2019 us-gaap Additional Cash And Cash Equivalent Related Text
AdditionalCashAndCashEquivalentRelatedText
three months or less
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0
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CY2019 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2019Q4 us-gaap Held To Maturity Securities
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CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
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CY2019Q4 mrus Accrued Research And Development Expenses Current
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
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CurrentFederalTaxExpenseBenefit
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CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
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CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
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CurrentStateAndLocalTaxExpenseBenefit
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CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
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CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
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CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
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CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
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CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.250
CY2019 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.00
CY2018 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.001
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.015
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.359
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
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CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.001
CY2018 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.00
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.233
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.190
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.004
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.007
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
33917000
CY2018Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
17798000
CY2019Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
23926000
CY2018Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
26814000
CY2019Q4 mrus Deferred Tax Assets Lease Obligation
DeferredTaxAssetsLeaseObligation
1333000
CY2018Q4 mrus Deferred Tax Assets Lease Obligation
DeferredTaxAssetsLeaseObligation
551000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
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319000
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DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
206000
CY2019Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
1619000
CY2018Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
726000
CY2019Q4 mrus Deferred Tax Liabilities Operating Lease Right Of Use Assets
DeferredTaxLiabilitiesOperatingLeaseRightOfUseAssets
1331000
CY2018Q4 mrus Deferred Tax Liabilities Operating Lease Right Of Use Assets
DeferredTaxLiabilitiesOperatingLeaseRightOfUseAssets
520000
CY2019Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
0
CY2018Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
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CY2019Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
1331000
CY2018Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
527000
CY2019Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
288000
CY2018Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
199000
CY2019Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
156301000
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2019Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2019 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2018Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P5Y
CY2018 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
Merus N.V. leases its corporate headquarters under an agreement term of five years, which expires in the fourth quarter of 2021. On May 1, 2018, Merus N.V. leased additional space to expand its corporate headquarters under a separate agreement. Under the terms of the new agreement, the term began on May 1, 2018 and expires in the fourth quarter of 2021. If the leases are not terminated by Merus N.V., they will be automatically renewed for a period of two years.
CY2018Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P2Y
CY2018 mrus Operating Lease Expiration Term
OperatingLeaseExpirationTerm
fourth quarter of 2021.
CY2019 us-gaap Operating Lease Cost
OperatingLeaseCost
1386000
CY2018 us-gaap Operating Lease Cost
OperatingLeaseCost
834000
CY2019 us-gaap Variable Lease Cost
VariableLeaseCost
297000
CY2018 us-gaap Variable Lease Cost
VariableLeaseCost
177000
CY2019 us-gaap Lease Cost
LeaseCost
1683000
CY2018 us-gaap Lease Cost
LeaseCost
1011000
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
2273000
CY2018 us-gaap Operating Lease Payments
OperatingLeasePayments
1199000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1602000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1495000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
614000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
630000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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645000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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884000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
5870000
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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618000
CY2019Q4 us-gaap Operating Lease Liability
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5252000
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y9M18D
CY2018Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y9M18D
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.050
CY2018Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.060
CY2019 us-gaap Common Stock Voting Rights
CommonStockVotingRights
one vote
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ProceedsFromIssuanceOfPrivatePlacement
55100000
CY2019 mrus Development Milestones Received
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3700000
CY2019 mrus Development Milestones Received
DevelopmentMilestonesReceived
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CY2019 mrus Transactions Price As Revenue
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4000000
CY2019 mrus Transactions Price As Revenue
TransactionsPriceAsRevenue
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CY2019 mrus Performance Obligations For Transaction Price As Revenue
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CY2019 us-gaap Allocated Share Based Compensation Expense
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7834000
CY2018 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9754000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2633039
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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1145221
CY2019 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
12080
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
451309
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y3M18D
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3314871
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1795089
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
17.20
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.67
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
14.61
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
7757000
CY2019Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
5572000
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.54
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.69
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
112000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1642000

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