$OVID
Ovid Therapeutics Inc

2021 Q4 Form 10-K Financial Statement

#000095017022003668 Filed on March 15, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $0.00 $208.4M $5.700M
YoY Change -100.0% 1551.57%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.300M $37.20M $10.40M
YoY Change -20.19% 21.57% 100.0%
% of Gross Profit
Research & Development $18.10M $46.94M $16.90M
YoY Change 7.1% -25.98% 39.67%
% of Gross Profit
Depreciation & Amortization $0.00 $237.1K $100.0K
YoY Change -100.0% -22.74% 0.0%
% of Gross Profit
Operating Expenses $26.40M $84.17M $27.30M
YoY Change -3.3% -10.5% 58.11%
Operating Profit $124.2M
YoY Change -252.53%
Interest Expense $0.00 $0.00 -$400.0K
YoY Change -100.0% -100.0% -233.33%
% of Operating Profit 0.0%
Other Income/Expense, Net -$45.69K
YoY Change
Pretax Income -$26.30M $124.2M -$22.00M
YoY Change 19.55% -253.22% 29.41%
Income Tax -$300.0K $1.329M
% Of Pretax Income 1.07%
Net Earnings -$26.00M $122.8M -$22.00M
YoY Change 18.18% -251.58% 29.66%
Net Earnings / Revenue 58.95% -385.96%
Basic Earnings Per Share $1.78
Diluted Earnings Per Share -$381.8K $1.76 -$343.8K
COMMON SHARES
Basic Shares Outstanding 68.09M 67.48M
Diluted Shares Outstanding 68.07M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $187.8M $187.8M $72.00M
YoY Change 160.83% 160.83% -6.18%
Cash & Equivalents $187.8M $187.6M $72.03M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $2.700M $2.700M $2.700M
YoY Change 0.0% 0.0% 42.11%
Inventory
Prepaid Expenses
Receivables $0.00 $0.00 $100.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $190.5M $190.5M $74.84M
YoY Change 154.5% 154.68% -6.23%
LONG-TERM ASSETS
Property, Plant & Equipment $242.8K $200.0K $135.6K
YoY Change 79.0% 100.0% 98.38%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.600M $1.600M $0.00
YoY Change
Other Assets $164.1K $2.000M $318.9K
YoY Change -48.54% 233.33% -31.75%
Total Long-Term Assets $4.066M $4.000M $1.082M
YoY Change 275.64% 263.64% 5.02%
TOTAL ASSETS
Total Short-Term Assets $190.5M $190.5M $74.84M
Total Long-Term Assets $4.066M $4.000M $1.082M
Total Assets $194.5M $194.5M $75.93M
YoY Change 156.23% 156.26% -6.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.127M $7.100M $5.446M
YoY Change 30.86% 31.48% 67.26%
Accrued Expenses $7.671M $7.700M $12.03M
YoY Change -36.25% -35.83% 65.59%
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 $14.80M $14.80M $22.06M
YoY Change -32.93% -33.03% 109.45%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00 $10.20M
YoY Change -100.0% -100.0% 3300.0%
Total Long-Term Liabilities $0.00 $0.00 $10.20M
YoY Change -100.0% -100.0% 3300.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.80M $14.80M $22.06M
Total Long-Term Liabilities $0.00 $0.00 $10.20M
Total Liabilities $14.80M $14.80M $32.29M
YoY Change -54.18% -54.18% 198.46%
SHAREHOLDERS EQUITY
Retained Earnings -$171.4M -$294.2M
YoY Change -41.75% 38.02%
Common Stock $351.1M $337.8M
YoY Change 3.93% 19.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $179.7M $179.7M $43.63M
YoY Change
Total Liabilities & Shareholders Equity $194.5M $194.5M $75.93M
YoY Change 156.23% 156.26% -6.08%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$26.00M $122.8M -$22.00M
YoY Change 18.18% -251.58% 29.66%
Depreciation, Depletion And Amortization $0.00 $237.1K $100.0K
YoY Change -100.0% -22.74% 0.0%
Cash From Operating Activities -$12.00M $118.6M -$14.50M
YoY Change -17.24% -329.92% -14.2%
INVESTING ACTIVITIES
Capital Expenditures -$200.0K $184.0K -$100.0K
YoY Change 100.0% 44.61% -50.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$1.600M $0.00
YoY Change -104.57% -100.0%
Cash From Investing Activities -$100.0K -$1.821M -$100.0K
YoY Change 0.0% -105.26% -99.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 100.0K 904.1K -200.0K
YoY Change -150.0% -98.08% -100.36%
NET CHANGE
Cash From Operating Activities -12.00M 118.6M -14.50M
Cash From Investing Activities -100.0K -1.821M -100.0K
Cash From Financing Activities 100.0K 904.1K -200.0K
Net Change In Cash -12.00M 117.7M -14.80M
YoY Change -18.92% 290.53% -479.49%
FREE CASH FLOW
Cash From Operating Activities -$12.00M $118.6M -$14.50M
Capital Expenditures -$200.0K $184.0K -$100.0K
Free Cash Flow -$11.80M $118.4M -$14.40M
YoY Change -18.06% -329.0% -13.77%

Facts In Submission

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021 us-gaap Use Of Estimates
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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">(B) Use of Estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">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 disclosure 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 materially from those estimates.</span></p>
CY2021 us-gaap Concentration Risk Credit Risk
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CY2021 ovid Description Of Ownership Pattern As Per License And Collaboration Agreement
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the Company and Takeda were equally sharing in the costs of development for soticlestat
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0
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72033930
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0
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
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CY2020Q4 ovid Clinical Trials Accrual Current
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CY2020Q4 us-gaap Other Accrued Liabilities Current
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165536
CY2021Q4 us-gaap Accrued Liabilities Current
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CY2020Q4 us-gaap Accrued Liabilities Current
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CY2021Q4 us-gaap Preferred Stock Shares Authorized
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10000000
CY2021 us-gaap Common Stock Voting Rights
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No dividends on the common stock shall be declared and paid unless dividends on the Preferred Stock have been declared and paid.
CY2021 us-gaap Dividends
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CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2020 us-gaap Allocated Share Based Compensation Expense
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CY2021 us-gaap Allocated Share Based Compensation Expense
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CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
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CY2020 ovid Share Based Compensation By Share Based Payment Award Options Granted Contractual Life
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CY2020 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2021 ovid Ownership Percentage Description
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if a corporation undergoes an ownership change (generally defined as a greater than 50% change in its equity ownership over a three-year period), the corporation’s ability to use its pre-change NOL carryforwards and other pre-change tax attributes to offset its post-change income may be limited.
CY2021 ovid Greater Than Change In Equity Ownership Percentage
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2015-08-10
CY2019Q1 ovid Ownership Interest Change Date Range End
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CY2021 ovid Share Based Compensation By Share Based Payment Award Options Granted Contractual Life
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
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CY2021Q4 ovid License Agreement Milestone Payments
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CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
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58451293
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
68067992
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
58451293
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.78
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.39
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.76
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.39

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