2022 Q1 Form 10-Q Financial Statement
#000156459022017670 Filed on May 04, 2022
Income Statement
Concept | 2022 Q1 | 2021 Q1 |
---|---|---|
Revenue | $0.00 | $0.00 |
YoY Change | ||
Cost Of Revenue | ||
YoY Change | ||
Gross Profit | ||
YoY Change | ||
Gross Profit Margin | ||
Selling, General & Admin | $3.029M | $4.250M |
YoY Change | -28.72% | 1.43% |
% of Gross Profit | ||
Research & Development | $4.960M | $3.259M |
YoY Change | 52.2% | -59.67% |
% of Gross Profit | ||
Depreciation & Amortization | $0.00 | |
YoY Change | -100.0% | |
% of Gross Profit | ||
Operating Expenses | $7.989M | $7.508M |
YoY Change | 6.42% | -38.82% |
Operating Profit | -$7.989M | -$7.508M |
YoY Change | 6.42% | -38.82% |
Interest Expense | $3.620K | $0.00 |
YoY Change | -100.0% | |
% of Operating Profit | ||
Other Income/Expense, Net | -$1.779M | -$1.300M |
YoY Change | 36.83% | |
Pretax Income | -$9.764M | -$8.800M |
YoY Change | 10.96% | -27.57% |
Income Tax | ||
% Of Pretax Income | ||
Net Earnings | -$9.764M | -$8.805M |
YoY Change | 10.9% | -27.54% |
Net Earnings / Revenue | ||
Basic Earnings Per Share | -$1.83 | |
Diluted Earnings Per Share | -$1.828M | -$206.0K |
COMMON SHARES | ||
Basic Shares Outstanding | 5.340M | 42.72M |
Diluted Shares Outstanding | 5.340M |
Balance Sheet
Concept | 2022 Q1 | 2021 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $54.95M | $80.10M |
YoY Change | -31.4% | 113.6% |
Cash & Equivalents | $55.05M | $80.14M |
Short-Term Investments | ||
Other Short-Term Assets | $750.5K | $1.500M |
YoY Change | -49.97% | 50.0% |
Inventory | ||
Prepaid Expenses | ||
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $55.70M | $81.70M |
YoY Change | -31.83% | 112.39% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $100.0K | |
YoY Change | 758.81% | |
Goodwill | $14.87M | |
YoY Change | ||
Intangibles | $15.20M | |
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $14.81K | |
YoY Change | 0.0% | |
Total Long-Term Assets | $14.92M | $30.13M |
YoY Change | -50.48% | -0.66% |
TOTAL ASSETS | ||
Total Short-Term Assets | $55.70M | $81.70M |
Total Long-Term Assets | $14.92M | $30.13M |
Total Assets | $70.62M | $111.8M |
YoY Change | -36.85% | 62.55% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $1.586M | $1.130M |
YoY Change | 40.42% | -62.35% |
Accrued Expenses | $1.662M | $2.200M |
YoY Change | -24.48% | -46.34% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $3.248M | $3.359M |
YoY Change | -3.3% | -52.7% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | $68.11M | $61.30M |
YoY Change | 11.1% | 48.79% |
Total Long-Term Liabilities | $68.11M | $61.30M |
YoY Change | 11.1% | 48.79% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $3.248M | $3.359M |
Total Long-Term Liabilities | $68.11M | $61.30M |
Total Liabilities | $71.35M | $66.46M |
YoY Change | 7.37% | 32.39% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$344.5M | |
YoY Change | ||
Common Stock | $339.0M | |
YoY Change | ||
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | -$736.1K | $45.37M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $70.62M | $111.8M |
YoY Change | -36.85% | 62.55% |
Cashflow Statement
Concept | 2022 Q1 | 2021 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$9.764M | -$8.805M |
YoY Change | 10.9% | -27.54% |
Depreciation, Depletion And Amortization | $0.00 | |
YoY Change | -100.0% | |
Cash From Operating Activities | -$5.800M | -$5.217M |
YoY Change | 11.17% | -43.3% |
INVESTING ACTIVITIES | ||
Capital Expenditures | ||
YoY Change | ||
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $0.00 | $0.00 |
YoY Change | -100.0% | |
Cash From Investing Activities | $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 | 0.000 | 60.00M |
YoY Change | -100.0% | 7422.29% |
NET CHANGE | ||
Cash From Operating Activities | -5.800M | -5.217M |
Cash From Investing Activities | 0.000 | 0.000 |
Cash From Financing Activities | 0.000 | 60.00M |
Net Change In Cash | -5.808M | 54.78M |
YoY Change | -110.6% | 535.27% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$5.800M | -$5.217M |
Capital Expenditures | ||
Free Cash Flow | ||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2021Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
CY2021Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
CY2021Q4 | us-gaap |
Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
|
51080 | |
CY2022Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
3247686 | |
CY2022Q1 | nerv |
Liability Related To Sale Of Future Royalties
LiabilityRelatedToSaleOfFutureRoyalties
|
68106115 | |
CY2021Q4 | nerv |
Liability Related To Sale Of Future Royalties
LiabilityRelatedToSaleOfFutureRoyalties
|
66327321 | |
CY2021Q4 | us-gaap |
Liabilities
Liabilities
|
69146275 | |
CY2021Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2021Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
100000000 | |
CY2021Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
CY2021Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
CY2021Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2021Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
125000000 | |
CY2021Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
42721566 | |
CY2021Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
42721566 | |
CY2021Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
4272 | |
CY2021Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
342672770 | |
CY2021Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-334701399 | |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
7975643 | |
CY2021Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
77121918 | |
CY2021Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
3258707 | |
CY2021Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
4248814 | |
CY2022Q1 | nerv |
Non Cash Interest Expense For The Sale Of Future Royalties
NonCashInterestExpenseForTheSaleOfFutureRoyalties
|
1778794 | |
CY2021Q1 | nerv |
Non Cash Interest Expense For The Sale Of Future Royalties
NonCashInterestExpenseForTheSaleOfFutureRoyalties
|
1296456 | |
CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-9764429 | |
CY2021Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-8804733 | |
CY2021Q1 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
42833 | |
CY2021Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1516064 | |
CY2022Q1 | nerv |
Non Cash Interest Expense For Sale Of Future Royalties
NonCashInterestExpenseForSaleOfFutureRoyalties
|
1778794 | |
CY2021Q1 | nerv |
Non Cash Interest Expense For Sale Of Future Royalties
NonCashInterestExpenseForSaleOfFutureRoyalties
|
1296456 | |
CY2022Q1 | nerv |
Increase Decrease In Prepaid Expense Other Current Assets
IncreaseDecreaseInPrepaidExpenseOtherCurrentAssets
|
-695878 | |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-267047 | |
CY2022Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
695779 | |
CY2021Q1 | nerv |
Increase Decrease In Operating Lease Liabilities Current
IncreaseDecreaseInOperatingLeaseLiabilitiesCurrent
|
-46879 | |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-5808369 | |
CY2021Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-5217359 | |
CY2021Q1 | nerv |
Proceeds From Sale Of Future Royalties
ProceedsFromSaleOfFutureRoyalties
|
60000000 | |
CY2021Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
60000000 | |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-5808369 | |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
54782641 | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
60855080 | |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
25456952 | |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
55046711 | |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
80239593 | |
CY2022Q1 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
100000 | |
CY2021Q1 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
100000 | |
CY2022Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<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;">NOTE 1 — NATURE OF OPERATIONS AND LIQUIDITY</p> <p style="margin-bottom:0pt;margin-top:12pt;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;">Nature of Operations</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;">Minerva Neurosciences, Inc. (“Minerva” or the “Company”) is a clinical-stage biopharmaceutical company focused on the development and commercialization of product candidates to treat patients suffering from central nervous system (“CNS”) diseases. The Company’s lead product candidate is roluperidone (f/k/a MIN-101), a compound the Company is developing for the treatment of negative symptoms in patients with schizophrenia. The Company holds the license to roluperidone from Mitsubishi Tanabe Pharma Corporation (“MTPC”) with the rights to develop, sell and import roluperidone globally, excluding most of Asia. The Company also has exclusive rights to develop and commercialize MIN-301, a compound for the treatment of Parkinson’s disease. In addition, Minerva previously co-developed seltorexant (f/k/a MIN-202 or JNJ-42847922) with Janssen Pharmaceutica NV (“Janssen”) for the treatment of insomnia disorder and adjunctive treatment of Major Depressive Disorder (“MDD”). During 2020 Minerva exercised its right to opt out of the joint development agreement with Janssen for the future development of seltorexant. As a result, the Company was entitled to collect royalties in the mid-single digits on potential future worldwide sales of seltorexant in certain indications, with no further financial obligations to Janssen<span style="color:#000000;">. In January 2021, the Company sold its rights to these potential royalties to Royalty Pharma plc (“Royalty Pharma”). For further discussion of the joint development agreement with Janssen and the sale of future royalties, please refer to Note 5, Sale of Future Royalties.</span></p> <p style="margin-bottom:0pt;margin-top:12pt;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;">Liquidity</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The accompanying interim condensed consolidated financial statements have been prepared as though the Company will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company has limited capital resources and has incurred recurring operating losses and negative cash flows from operations since inception. As of March 31, 2022, the Company had an accumulated deficit of approximately<span style="font-size:12pt;"> </span><span style="color:#000000;">$344.5</span><span style="font-size:12pt;"> </span><span style="color:#000000;">million </span>and net cash used in operating activities was approximately $5.8 million during the three months ended March 31, 2022. Management expects to continue to incur operating losses and negative cash flows from operations in the future. The Company has financed its operations to date from proceeds from the sale of common stock, warrants, loans, convertible promissory notes, collaboration agreements and royalty sales.</p> <p style="margin-top:12pt;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 of March 31, 2022, the Company had cash, cash equivalents, and restricted cash of $55.0 million. <span style="color:#000000;">The Company believes that its existing cash, cash equivalents, and restricted cash will be sufficient to meet its cash commitments for at least the next 12 months after the date that the interim condensed consolidated financial statements are issued. The process of drug development can be costly and the timing and outcomes of clinical trials is uncertain. The assumptions upon which the Company has based its estimates are routinely evaluated and may be subject to change. The actual amount of the Company’s expenditures will vary depending upon a number of factors including but not limited to the design, timing and duration of future clinical trials, the progress of the Company’s research and development programs, the infrastructure to support a commercial enterprise, the cost of a commercial product launch, and the level of financial resources available. The Company has the ability to adjust its operating plan spending levels based on the timing of future clinical trials, which will be predicated upon adequate funding to complete the trials.</span></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 will need to raise additional capital in order to continue to fund operations and fully fund any potential later stage clinical development programs. The Company believes that it will be able to obtain additional working capital through equity financings or other arrangements to fund future operations; however, there can be no assurance that such additional financing, if available, can be obtained on terms acceptable to the Company. If the Company is unable to obtain such additional financing, future operations would need to be scaled back or discontinued.</p> <p style="margin-bottom:0pt;margin-top:12pt;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;">Significant Risks and Uncertainties</p> <p style="margin-bottom:0pt;margin-top:12pt;margin-left:2.27%;text-indent:0%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">COVID-19 Pandemic</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’s business could be adversely affected by the effects of the ongoing COVID-19 pandemic. Beginning in late 2019 and continuing into 2022, the outbreak of COVID-19 has resulted in the declaration of a global pandemic and adversely affected economic activity across virtually all sectors and industries on a local, national, and global scale. While global vaccination efforts are underway and certain jurisdictions, including Massachusetts, have reopened businesses and governmental agencies, there remain limitations on the physical operations of businesses and prohibitions on certain non-essential gatherings, and we are unable to accurately predict the </p> <p style="margin-top:12pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">full impact that COVID-19 will have due to numerous uncertainties, including the duration of the outbreak, the result of vaccination efforts, resurgence of the virus, actions that may be taken by governmental authorities, the impact on our business including our clinical programs and timelines, and the impact to the business of our service providers and partners. </span></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;">While the COVID-19 pandemic has not had a material adverse impact on the Company’s operations to date, this disruption, if sustained or recurrent, could have a material adverse effect on the Company’s operating results, its ability to raise capital needed to develop and commercialize products and the Company’s overall financial condition. In addition, a recession or market correction resulting from the spread of the coronavirus could materially affect the value of the Company’s common stock. The impact of the COVID-19 pandemic may also exacerbate other risks discussed in this Quarterly Report on Form 10-Q. Refer to Item 1A. “Risk Factors” in this Quarterly Report on Form 10-Q for a complete description of the material risks that the Company currently faces.</p> | |
CY2021Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-344500000 | |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-5800000 | |
CY2021Q1 | nerv |
Cash Cash Equivalents Restricted Cash And Marketable Securities
CashCashEquivalentsRestrictedCashAndMarketableSecurities
|
55000000.0 | |
CY2022Q1 | nerv |
Accrued Research And Development Costs And Other Expenses Current
AccruedResearchAndDevelopmentCostsAndOtherExpensesCurrent
|
1116122 | |
CY2021Q4 | nerv |
Accrued Research And Development Costs And Other Expenses Current
AccruedResearchAndDevelopmentCostsAndOtherExpensesCurrent
|
902803 | |
CY2022Q1 | us-gaap |
Accrued Bonuses Current
AccruedBonusesCurrent
|
381500 | |
CY2022Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
115912 | |
CY2021Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
62936 | |
CY2022Q1 | us-gaap |
Accrued Vacation Current
AccruedVacationCurrent
|
47984 | |
CY2022Q1 | us-gaap |
Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
|
1661518 | |
CY2021Q4 | us-gaap |
Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
|
965739 | |
CY2022Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="margin-bottom:0pt;margin-top:12pt;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;">Use of estimates</p> <p style="margin-bottom:0pt;margin-top:12pt;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 disclosures 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 from those estimates.</p> | |
CY2022Q1 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
100000 | |
CY2021Q4 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
100000 | |
CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-8804733 | |
CY2022Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
42721566 | |
CY2021Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
42721566 | |
CY2022Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.23 | |
CY2021Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.21 | |
CY2021Q1 | nerv |
Liability Related To The Sale Of Future Royalties
LiabilityRelatedToTheSaleOfFutureRoyalties
|
60000000 | |
CY2021Q1 | nerv |
Annual Interest Rate On Interest Expense
AnnualInterestRateOnInterestExpense
|
0.105 | |
CY2022Q1 | nerv |
Annual Interest Rate On Interest Expense
AnnualInterestRateOnInterestExpense
|
0.107 | |
nerv |
Upfront Payment Paid
UpfrontPaymentPaid
|
60000000 | ||
nerv |
Non Cash Interest Expense For Sale Of Future Royalties
NonCashInterestExpenseForSaleOfFutureRoyalties
|
8106115 | ||
CY2022Q1 | nerv |
Liability Related To The Sale Of Future Royalties
LiabilityRelatedToTheSaleOfFutureRoyalties
|
68106115 | |
CY2016Q1 | us-gaap |
Warrants Not Settleable In Cash Fair Value Disclosure
WarrantsNotSettleableInCashFairValueDisclosure
|
200000 | |
CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
1.92 | |
CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
0 | |
CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
0 | |
CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | |
CY2022Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1052656 | |
CY2021Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1516064 | |
CY2021Q2 | us-gaap |
Area Of Real Estate Property
AreaOfRealEstateProperty
|
5923 | |
CY2021Q2 | nerv |
Lease Description
LeaseDescription
|
The term of the lease agreement began on August 1, 2021 and will expire on July 31, 2022, with an annual rate of $239,881.50 payable in equal monthly installments. The Company has elected to not recognize the lease agreement on the balance sheet as the term of the agreement is 12 months or less | |
CY2021Q2 | nerv |
Lease Commencement Date
LeaseCommencementDate
|
2021-08-01 | |
CY2021Q2 | us-gaap |
Lease Expiration Date1
LeaseExpirationDate1
|
2022-07-31 | |
CY2021Q2 | nerv |
Monthly Rental Rate
MonthlyRentalRate
|
239881.50 | |
CY2022Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
59970 |