$OVID
Ovid Therapeutics Inc.

2018 Q1 Form 10-K Financial Statement

#000156459018007152 Filed on March 29, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 2016 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.000M $15.00M $3.600M
YoY Change 67.91% 16.28% 63.64%
% of Gross Profit
Research & Development $8.475M $49.97M $4.000M
YoY Change -72.91% 421.32% 263.64%
% of Gross Profit
Depreciation & Amortization $26.37K $80.31K $100.0K
YoY Change 42.84% 42.11%
% of Gross Profit
Operating Expenses $13.43M $49.97M $7.589M
YoY Change -60.8% 421.32% 129.97%
Operating Profit -$13.43M
YoY Change -60.8%
Interest Expense $200.0K $200.0K $0.00
YoY Change 100.0%
% of Operating Profit
Other Income/Expense, Net $247.0K $27.00K
YoY Change 973.91%
Pretax Income -$13.20M -$64.80M -$7.600M
YoY Change -61.45% 189.29% 130.3%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$13.18M -$64.81M -$7.562M
YoY Change -61.5% 189.31% 129.15%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$536.6K -$3.358M -$308.9K
COMMON SHARES
Basic Shares Outstanding 24.62M
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q1 2017 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $74.16M $87.10M $51.90M
YoY Change 67.78% 67.82%
Cash & Equivalents $29.20M $87.10M $51.94M
Short-Term Investments $44.96M
Other Short-Term Assets $1.500M $1.500M $400.0K
YoY Change -34.78% 275.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $75.69M $88.60M $52.41M
YoY Change 62.63% 69.08%
LONG-TERM ASSETS
Property, Plant & Equipment $100.0K $100.0K $43.59K
YoY Change 114.66%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.900M $800.0K $165.3K
YoY Change 1347.97% 33.33%
Total Long-Term Assets $3.012M $900.0K $616.7K
YoY Change 354.86% 50.0%
TOTAL ASSETS
Total Short-Term Assets $75.69M $88.60M $52.41M
Total Long-Term Assets $3.012M $900.0K $616.7K
Total Assets $78.70M $89.50M $53.03M
YoY Change 66.73% 68.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.400M $2.000M $857.2K
YoY Change 51.92% 122.22%
Accrued Expenses $4.200M $4.000M $2.876M
YoY Change 27.74% 37.93%
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 $6.600M $6.000M $3.733M
YoY Change 35.59% 62.16%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $6.600M $6.000M $3.733M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $6.600M $6.000M $3.700M
YoY Change 34.69% 62.16%
SHAREHOLDERS EQUITY
Retained Earnings -$113.9M -$35.91M
YoY Change 62.37%
Common Stock $186.0M $9.839K
YoY Change 1890565.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $72.09M $83.40M $49.29M
YoY Change
Total Liabilities & Shareholders Equity $78.67M $89.50M $53.03M
YoY Change 66.66% 68.87%

Cashflow Statement

Concept 2018 Q1 2017 2016 Q4
OPERATING ACTIVITIES
Net Income -$13.18M -$64.81M -$7.562M
YoY Change -61.5% 189.31% 129.15%
Depreciation, Depletion And Amortization $26.37K $80.31K $100.0K
YoY Change 42.84% 42.11%
Cash From Operating Activities -$12.93M -$31.47M -$5.700M
YoY Change 79.53% 76.8% 171.43%
INVESTING ACTIVITIES
Capital Expenditures $7.581K $38.91K -$100.0K
YoY Change -37.51% 28.14%
Acquisitions
YoY Change
Other Investing Activities -$45.00M
YoY Change
Cash From Investing Activities -$45.07M -$47.39K -$100.0K
YoY Change 44972.03% -76.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 75.40K 66.70M 0.000
YoY Change -115.08% -100.0%
NET CHANGE
Cash From Operating Activities -12.93M -31.47M -5.700M
Cash From Investing Activities -45.07M -47.39K -100.0K
Cash From Financing Activities 75.40K 66.70M 0.000
Net Change In Cash -57.92M 35.19M -5.800M
YoY Change 642.6% -295.48% 163.64%
FREE CASH FLOW
Cash From Operating Activities -$12.93M -$31.47M -$5.700M
Capital Expenditures $7.581K $38.91K -$100.0K
Free Cash Flow -$12.93M -$31.51M -$5.600M
YoY Change 79.34% 76.71% 166.67%

Facts In Submission

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<div> <p style="margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">(A) <font style="color:#000000;">Use of Estimates</font></p> <p style="Background-color:#FFFFFF;margin-top:10pt;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;"><font style="Background-color:#FFFFFF;">The preparation of financial statements in conformity with generally accepted accounting principles (&#8220;GAAP&#8221;) 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.</font></p></div>
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<div> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">(C) Risks and Uncertainties</p> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top: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;"><font style="Background-color:#FFFFFF;">The Company is subject to risks common to companies in the development stage including, but not limited to, dependency on the clinical and commercial success of its drug candidates, ability to obtain regulatory approval of its drug candidates, the need for substantial additional financing to achieve its goals, uncertainty of broad adoption of its approved products, if any, by physicians and consumers, and significant competition and untested manufacturing capabilities</font>.</p></div>
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CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
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P7Y11M1D
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CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
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CY2017 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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CY2017 ovid Operating Loss Carryforwards Expiration Year
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CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2015Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.34
CY2017 ovid Tax Cuts And Jobs Act Of2017 Decrease In Deferred Tax Assets
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CY2017Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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CY2017Q4 us-gaap Liability For Uncertain Tax Positions Current
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CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2016Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
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348816
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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3392111
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
2035042
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
633745
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
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CY2017Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
10778
CY2016Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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10318
CY2017Q4 us-gaap Deferred Tax Assets Charitable Contribution Carryforwards
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53038
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
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CY2016 us-gaap Effective Income Tax Rate Continuing Operations
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CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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