$OCGN
Ocugen, Inc.

2016 Q2 Form 10-Q Financial Statement

#000119312516588892 Filed on May 12, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2016 Q1 2015 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.160M $2.210M $2.110M
YoY Change 24.14% 4.74% 17.22%
% of Gross Profit
Research & Development $5.794M $5.586M $5.764M
YoY Change -1.09% -3.09% -270.84%
% of Gross Profit
Depreciation & Amortization $432.0K $430.0K $371.0K
YoY Change 8.82% 15.9% 142.48%
% of Gross Profit
Operating Expenses $7.955M $7.798M $7.873M
YoY Change 4.77% -0.95% -252.19%
Operating Profit -$7.955M -$7.798M -$7.873M
YoY Change 4.77% -0.95% 52.19%
Interest Expense $17.00K $19.00K $62.00K
YoY Change -34.62% -69.35% -96.44%
% of Operating Profit
Other Income/Expense, Net -$83.00K -$120.0K -$91.00K
YoY Change 107.5% 31.87% -105.24%
Pretax Income -$8.040M -$7.920M -$7.960M
YoY Change 5.37% -0.5% 131.4%
Income Tax
% Of Pretax Income
Net Earnings -$8.038M -$7.918M -$7.964M
YoY Change 5.31% -0.58% 131.71%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$36.55M -$36.00M -$36.18M
COMMON SHARES
Basic Shares Outstanding 13.27M shares 13.27M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.93M $22.90M $53.18M
YoY Change -64.77% -56.94% 1482.74%
Cash & Equivalents $15.93M $22.90M $53.18M
Short-Term Investments
Other Short-Term Assets $350.0K $470.0K $830.0K
YoY Change -61.11% -43.37% -62.44%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $16.28M $23.36M $54.01M
YoY Change -64.71% -56.74% 871.4%
LONG-TERM ASSETS
Property, Plant & Equipment $4.665M $4.815M $5.422M
YoY Change -14.06% -11.2% 140.98%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $140.0K $140.0K $1.640M
YoY Change -88.14% -91.46% 2.5%
Total Long-Term Assets $5.002M $5.152M $7.570M
YoY Change -29.74% -31.94% 71.27%
TOTAL ASSETS
Total Short-Term Assets $16.28M $23.36M $54.01M
Total Long-Term Assets $5.002M $5.152M $7.570M
Total Assets $21.28M $28.52M $61.58M
YoY Change -60.03% -53.69% 517.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.769M $1.713M $3.293M
YoY Change -24.3% -47.98% 4.21%
Accrued Expenses $3.560M $2.880M $1.896M
YoY Change 70.09% 51.9% 137.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $580.0K $580.0K $540.0K
YoY Change 0.0% 7.41%
Total Short-Term Liabilities $6.721M $5.975M $7.499M
YoY Change 0.51% -20.32% 35.61%
LONG-TERM LIABILITIES
Long-Term Debt $470.0K $620.0K $1.200M
YoY Change -55.24% -48.33%
Other Long-Term Liabilities $1.200M $1.330M $1.660M
YoY Change -26.38% -19.88% -93.69%
Total Long-Term Liabilities $1.670M $1.950M $2.860M
YoY Change -37.69% -31.82% -89.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.721M $5.975M $7.499M
Total Long-Term Liabilities $1.670M $1.950M $2.860M
Total Liabilities $8.389M $7.923M $10.36M
YoY Change -10.5% -23.49% -67.46%
SHAREHOLDERS EQUITY
Retained Earnings -$181.5M -$173.5M -$141.5M
YoY Change 21.71% 22.6%
Common Stock $194.4M $194.1M $192.7M
YoY Change 0.73% 0.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.89M $20.59M $51.22M
YoY Change
Total Liabilities & Shareholders Equity $21.28M $28.52M $61.58M
YoY Change -60.03% -53.69% 517.03%

Cashflow Statement

Concept 2016 Q2 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$8.038M -$7.918M -$7.964M
YoY Change 5.31% -0.58% 131.71%
Depreciation, Depletion And Amortization $432.0K $430.0K $371.0K
YoY Change 8.82% 15.9% 142.48%
Cash From Operating Activities -$6.540M -$7.840M -$8.690M
YoY Change -12.45% -9.78% 73.11%
INVESTING ACTIVITIES
Capital Expenditures -$280.0K $32.00K $915.0K
YoY Change -30.0% -96.5% 662.5%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$280.0K -$30.00K -$920.0K
YoY Change -30.0% -96.74% 666.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.738M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -140.0K -150.0K 4.730M
YoY Change 55.56% -103.17% -2070.83%
NET CHANGE
Cash From Operating Activities -6.540M -7.840M -8.690M
Cash From Investing Activities -280.0K -30.00K -920.0K
Cash From Financing Activities -140.0K -150.0K 4.730M
Net Change In Cash -6.960M -8.020M -4.880M
YoY Change -12.56% 64.34% -9.29%
FREE CASH FLOW
Cash From Operating Activities -$6.540M -$7.840M -$8.690M
Capital Expenditures -$280.0K $32.00K $915.0K
Free Cash Flow -$6.260M -$7.872M -$9.605M
YoY Change -11.46% -18.04% 86.87%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2015Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
156138 shares
CY2015Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
53181000
CY2015Q1 hsgx Fair Value Input Amount Transfer Between Levels
FairValueInputAmountTransferBetweenLevels
0
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1400206 shares
CY2016Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.01
CY2016Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.66
CY2016Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
13274407 shares
CY2016Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
13274407 shares
CY2012Q3 us-gaap Warrants Not Settleable In Cash Fair Value Disclosure
WarrantsNotSettleableInCashFairValueDisclosure
117000
CY2015Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.01
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
6.68
CY2016Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
268244 shares
CY2016Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
156138 shares
CY2016Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
13274407 shares
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.95
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1282478 shares
CY2016Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
193942000
CY2016Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
583000
CY2016Q1 us-gaap Incentive From Lessor
IncentiveFromLessor
915000
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
20592000
CY2016Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
437000
CY2016Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
178000
CY2016Q1 us-gaap Loans Payable
LoansPayable
1198000
CY2016Q1 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
260000
CY2016Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
430000
CY2016Q1 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
128000
CY2016Q1 us-gaap Loans Payable Current
LoansPayableCurrent
583000
CY2016Q1 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
418000
CY2016Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
1713000
CY2016Q1 us-gaap Assets
Assets
28515000
CY2016Q1 us-gaap Long Term Loans Payable
LongTermLoansPayable
615000
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-173483000
CY2016Q1 us-gaap Liabilities
Liabilities
7923000
CY2016Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
28515000
CY2016Q1 us-gaap Common Stock Value
CommonStockValue
133000
CY2016Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2016Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8419000
CY2016Q1 us-gaap Liabilities Current
LiabilitiesCurrent
5975000
CY2016Q1 us-gaap Lease Incentive Payable Current
LeaseIncentivePayableCurrent
407000
CY2016Q1 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
1903000
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
85000
CY2016Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
3538000
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
95000
CY2016Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4815000
CY2016Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
137000
CY2016Q1 us-gaap Noncurrent Assets
NoncurrentAssets
4815000
CY2016Q1 us-gaap Assets Current
AssetsCurrent
23363000
CY2016Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
19777000
CY2016Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
630000
CY2016Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
200000
CY2016Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
466000
CY2016Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
22897000
CY2016Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
13234000
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
95000
CY2016Q1 hsgx Fair Value Input Amount Transfer Between Levels
FairValueInputAmountTransferBetweenLevels
0
CY2016Q1 hsgx Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageGrantDateFairValue
4.080
CY2016Q1 hsgx Accrued Liability Current Excluding Lease Incentive Payable
AccruedLiabilityCurrentExcludingLeaseIncentivePayable
981000
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
58060000
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1230838 shares
CY2015Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.32
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
13273470 shares
CY2015Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
13273470 shares
CY2015Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
193631000
CY2015Q4 us-gaap Incentive From Lessor
IncentiveFromLessor
1017000
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
28198000
CY2015Q4 us-gaap Loans Payable
LoansPayable
1344000
CY2015Q4 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
229000
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
430000
CY2015Q4 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
126000
CY2015Q4 us-gaap Loans Payable Current
LoansPayableCurrent
583000
CY2015Q4 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
451000
CY2015Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
2024000
CY2015Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2015Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7989000
CY2015Q4 us-gaap Liabilities Current
LiabilitiesCurrent
6359000
CY2015Q4 us-gaap Lease Incentive Payable Current
LeaseIncentivePayableCurrent
407000
CY2015Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
1546000
CY2015Q4 us-gaap Assets
Assets
36786000
CY2015Q4 us-gaap Long Term Loans Payable
LongTermLoansPayable
761000
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-165565000
CY2015Q4 us-gaap Liabilities
Liabilities
8588000
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
36786000
CY2015Q4 us-gaap Common Stock Value
CommonStockValue
132000
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5213000
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
137000
CY2015Q4 us-gaap Noncurrent Assets
NoncurrentAssets
5213000
CY2015Q4 us-gaap Assets Current
AssetsCurrent
31236000
CY2015Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
25764000
CY2015Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
630000
CY2015Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
200000
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
321000
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
30915000
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
13202000
CY2015Q4 hsgx Accrued Liability Current Excluding Lease Incentive Payable
AccruedLiabilityCurrentExcludingLeaseIncentivePayable
1444000
CY2014Q4 hsgx Class Of Warrant Or Right Number Of Securities Surrendered
ClassOfWarrantOrRightNumberOfSecuritiesSurrendered
5839 shares
CY2012Q3 hsgx Class Of Warrant Or Right Exercisable Expiration Period
ClassOfWarrantOrRightExercisableExpirationPeriod
P10Y
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-8689000
CY2015Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M2D
CY2015Q1 us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Risk Free Interest Rate
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodRiskFreeInterestRate
0.0056 pure
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0160 pure
CY2015Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.60
CY2015Q1 us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Term1
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedTerm1
P2Y2M19D
CY2015Q1 us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Volatility Rate
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedVolatilityRate
0.597 pure
CY2015Q1 us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Dividend Rate
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedDividendRate
0.000 pure
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.658 pure
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000 pure
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.51
CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
13201186 shares
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
915000
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-7964000
CY2015Q1 us-gaap Sales Revenue Net
SalesRevenueNet
0
CY2015Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
13000
CY2015Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
33000
CY2015Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
377000
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-7873000
CY2015Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-29000
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-915000
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
4725000
CY2015Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-91000
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
235000
CY2015Q1 us-gaap Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
317000
CY2015Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
291000
CY2015Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-4879000
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
7873000
CY2015Q1 us-gaap Interest Expense
InterestExpense
62000
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5764000
CY2015Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4738000
CY2015Q1 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
226000
CY2015Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-104000
CY2015Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
235000
CY2015Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2109000
CY2015Q1 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
9000
CY2015Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1819000
CY2015Q1 us-gaap Depreciation
Depreciation
371000
CY2015Q1 hsgx Deferred Rent And Lease Incentive
DeferredRentAndLeaseIncentive
73000
CY2015Q1 hsgx Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-7964000
CY2016Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2016Q1 us-gaap Nature Of Operations
NatureOfOperations
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> <b>1. NATURE OF BUSINESS</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> <b>Organization</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> Histogenics Corporation (the &#x201C;Company&#x201D;) was incorporated under the laws of the Commonwealth of Massachusetts on June&#xA0;28, 2000 and has its principal operations in Waltham, Massachusetts. In 2006, the Company&#x2019;s board of directors approved a corporate reorganization pursuant to which the Company incorporated as a Delaware corporation. The Company is a regenerative medicine company engaged in developing and commercializing products in the musculoskeletal segment of the marketplace. The Company combines cell therapy and tissue engineering technologies to develop products for tissue repair and regeneration focusing on patients suffering from cartilage-derived pain and immobility. The Company is developing technology and products to reverse or prevent cartilage damage, including NeoCart for the repair of cartilage lesions. NeoCart is currently in a Phase 3 clinical trial in the United States under a special protocol assessment with the U.S. Food and Drug Administration (&#x201C;FDA&#x201D;) for the treatment of knee cartilage damage.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> On May&#xA0;13, 2011, the Company completed the acquisition of ProChon Biotech Ltd. (&#x201C;ProChon&#x201D;), a privately-held biotechnology company focused on modulating the fibroblast growth factor system for consideration of $2,224 to enable it to create more effective solutions for tissue regeneration. ProChon&#x2019;s products combine cell regeneration technologies with proprietary growth factors and biocompatible scaffolds to restore injured or chronically damaged tissues. The acquisition of ProChon provided the Company with access to a significant portfolio of intellectual property, including proprietary cell growth factors, in addition to furthering opportunities for the use of biomaterials to create more effective solutions for regenerating human tissue. The acquisition led to the initial recognition of goodwill, which was subsequently written off in 2011, and intangible assets including IPR&amp;D and a licensing agreement which have been impaired as discussed in Note 2.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> On December&#xA0;18, 2014, the Company formed a wholly owned subsidiary, Histogenics Securities Corporation, under the laws of the Commonwealth of Massachusetts.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> Since its inception, the Company has devoted substantially all of its efforts to product development, recruiting management and technical staff, raising capital, starting up production and building infrastructure and has not yet generated revenues from its planned principal operations. Expenses have primarily been for research and development and administrative costs.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> The condensed consolidated financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying condensed consolidated financial statements, the Company has incurred losses and cash flow deficits from operations for the three months ended March 31, 2016 and 2015. The Company has financed operations to date primarily through private placements of equity securities, the issuance of common stock in the initial public offering completed in December 2014, and borrowings under debt agreements. The Company has incurred losses and negative cash flows from operations resulting in an accumulated deficit at March 31, 2016 of $173.5&#xA0;million. The Company anticipates that it will continue to incur net losses for the next several years. The Company believes that our existing cash and cash equivalents will be sufficient to fund our projected cash needs into 2017. The Company will require additional capital to complete the enrollment of the NeoCart clinical trial, and for the further development of our existing product candidates.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> The Company is subject to a number of risks. The developmental nature of its activities is such that significant inherent risks exist in the Company&#x2019;s operations. Principal among these risks are the successful development of therapeutics, successfully enrolling patients in its clinical trials in a timely manner, ability to obtain adequate financing, obtaining regulatory approval for any of its product candidates in any jurisdiction, compliance with government regulations, protection of proprietary therapeutics, fluctuations in operating results, dependence on key personnel and collaborative partners, adoption of the Company&#x2019;s products by the physician community, rapid technological changes inherent in the markets targeted, and substitute products and competition from larger companies.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Basis of Accounting</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> The condensed consolidated financial statements are unaudited and have been prepared in conformity with accounting principles generally accepted in the United States of America (&#x201C;U.S. GAAP&#x201D;). However, they do not include all of the information and footnotes required by GAAP for complete financial statements. These interim condensed consolidated financial statements, in the opinion of the Company&#x2019;s management, reflect all normal recurring adjustments necessary for a fair presentation of the Company&#x2019;s financial position and results of operations for the interim periods ended March&#xA0;31, 2016 and 2015. The results of operations for the interim periods are not necessarily indicative of the results of operations to be expected for the full year. These interim financial statements should be read in conjunction with the audited financial statements as of and for the year ended December&#xA0;31, 2015, and the notes thereto, which are included in the Company&#x2019;s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the &#x201C;SEC&#x201D;) on March&#xA0;10, 2016.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> The condensed consolidated financial statements include the accounts of Histogenics Corporation and its wholly-owned subsidiaries, ProChon and Histogenics Securities Corporation. All significant intercompany accounts and transactions are eliminated in consolidation.</p> </div>
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-7841000
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y29D
CY2016Q1 us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Risk Free Interest Rate
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodRiskFreeInterestRate
0.0166 pure
CY2016Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
CY2016Q1 dei Amendment Flag
AmendmentFlag
false
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.596 pure
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0140 pure
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
23735 shares
CY2016Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.60
CY2016Q1 us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Term1
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedTerm1
P7Y29D
CY2016Q1 dei Document Type
DocumentType
10-Q
CY2016Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001372299
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y10M24D
CY2016Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
7.30
CY2016Q1 us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Volatility Rate
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedVolatilityRate
0.647 pure
CY2016Q1 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2016Q1 us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Dividend Rate
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedDividendRate
0.000 pure
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
194040 shares
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000 pure
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
5.26
CY2016Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.56
CY2016Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2016Q1 dei Entity Registrant Name
EntityRegistrantName
Histogenics Corporation
CY2016Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Reclassifications</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> The Company has reclassified certain prior period amounts to conform to the current period presentation. The amounts reclassified impact Accounts Payable due to Intrexon Corporation (&#x201C;Intrexon&#x201D;) for the three months ended March&#xA0;31, 2015 and the year ended December&#xA0;31, 2015.</p> </div>
CY2016Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.76
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.43
CY2016Q1 dei Document Period End Date
DocumentPeriodEndDate
2016-03-31
CY2016Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
937 shares
CY2016Q1 dei Trading Symbol
TradingSymbol
HSGX
CY2016Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
13269021 shares
CY2016Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y10M24D
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
32000
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-7918000
CY2016Q1 us-gaap Sales Revenue Net
SalesRevenueNet
0
CY2016Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
146000
CY2016Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
145000
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-7798000
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-101000
CY2016Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-120000
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
311000
CY2016Q1 us-gaap Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
357000
CY2016Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
258000
CY2016Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-8018000
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
7798000
CY2016Q1 us-gaap Interest Expense
InterestExpense
19000
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-32000
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-145000
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5586000
CY2016Q1 us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
31000
CY2016Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-463000
CY2016Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1000
CY2016Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
311000
CY2016Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2212000
CY2016Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-311000
CY2016Q1 us-gaap Depreciation
Depreciation
430000
CY2016Q1 hsgx Deferred Rent And Lease Incentive
DeferredRentAndLeaseIncentive
-133000
CY2016Q1 hsgx Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-7918000
CY2016Q1 hsgx Contractual Agreement Date
ContractualAgreementDate
2016-05-10

Files In Submission

Name View Source Status
0001193125-16-588892-index-headers.html Edgar Link pending
0001193125-16-588892-index.html Edgar Link pending
0001193125-16-588892.txt Edgar Link pending
0001193125-16-588892-xbrl.zip Edgar Link pending
d176144d10q.htm Edgar Link pending
d176144dex311.htm Edgar Link pending
d176144dex312.htm Edgar Link pending
d176144dex321.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
hsgx-20160331.xml Edgar Link completed
hsgx-20160331.xsd Edgar Link pending
hsgx-20160331_cal.xml Edgar Link unprocessable
hsgx-20160331_def.xml Edgar Link unprocessable
hsgx-20160331_lab.xml Edgar Link unprocessable
hsgx-20160331_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending