$OVID
Ovid Therapeutics Inc.

2019 Q3 Form 10-Q Financial Statement

#000156459019042028 Filed on November 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3 2018 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.200M $4.600M $5.100M
YoY Change 13.04% 31.43% 21.43%
% of Gross Profit
Research & Development $11.60M $8.545M $8.116M
YoY Change 35.73% 44.84% 33.6%
% of Gross Profit
Depreciation & Amortization $10.00K $7.000K $9.000K
YoY Change 42.86% -2.38% 35.24%
% of Gross Profit
Operating Expenses $16.77M $13.18M $13.21M
YoY Change 27.24% 40.04% 28.4%
Operating Profit -$16.77M -$13.21M
YoY Change 28.4%
Interest Expense $100.0K $200.0K $300.0K
YoY Change -50.0% 100.0%
% of Operating Profit
Other Income/Expense, Net $131.0K $214.0K $275.0K
YoY Change -38.79% 319.61% 587.5%
Pretax Income -$16.60M -$13.00M -$12.90M
YoY Change 27.69% 38.3% 26.47%
Income Tax
% Of Pretax Income
Net Earnings -$16.63M -$12.96M -$12.94M
YoY Change 28.33% 38.51% 26.22%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$431.2K -$528.5K -$518.1K
COMMON SHARES
Basic Shares Outstanding 38.69M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q3 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $37.90M $52.50M $62.60M
YoY Change -27.81% -45.31% -41.0%
Cash & Equivalents $37.91M $30.51M $22.54M
Short-Term Investments $0.00 $22.00M $40.10M
Other Short-Term Assets $1.200M $2.700M $2.600M
YoY Change -55.56% 237.5% 116.67%
Inventory
Prepaid Expenses
Receivables $0.00
Other Receivables $0.00
Total Short-Term Assets $39.15M $55.25M $65.20M
YoY Change -29.14% -42.98% -39.24%
LONG-TERM ASSETS
Property, Plant & Equipment $72.24K $100.0K $100.0K
YoY Change -27.76% 0.0% 100.81%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $351.3K $5.100M $3.400M
YoY Change -93.11% 1175.0% 1475.91%
Total Long-Term Assets $1.544M $5.146M $3.400M
YoY Change -70.0% 635.11% 388.63%
TOTAL ASSETS
Total Short-Term Assets $39.15M $55.25M $65.20M
Total Long-Term Assets $1.544M $5.146M $3.400M
Total Assets $40.69M $60.40M $68.60M
YoY Change -32.63% -38.11% -36.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.342M $4.600M $3.400M
YoY Change 16.12% 206.67% -4.8%
Accrued Expenses $4.682M $5.800M $4.100M
YoY Change -19.28% 81.25% 17.36%
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 $10.36M $10.40M $7.500M
YoY Change -0.37% 126.09% 6.16%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $300.0K
YoY Change
Total Long-Term Liabilities $300.0K $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $10.36M $10.40M $7.500M
Total Long-Term Liabilities $300.0K $0.00 $0.00
Total Liabilities $10.65M $10.40M $7.500M
YoY Change 2.38% 126.09% 5.63%
SHAREHOLDERS EQUITY
Retained Earnings -$196.2M
YoY Change
Common Stock $226.2M $189.7M
YoY Change 19.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $30.05M $49.97M $61.12M
YoY Change
Total Liabilities & Shareholders Equity $40.69M $60.40M $68.60M
YoY Change -32.63% -38.11% -36.49%

Cashflow Statement

Concept 2019 Q3 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income -$16.63M -$12.96M -$12.94M
YoY Change 28.33% 38.51% 26.22%
Depreciation, Depletion And Amortization $10.00K $7.000K $9.000K
YoY Change 42.86% -2.38% 35.24%
Cash From Operating Activities -$9.500M -$10.10M -$11.60M
YoY Change -5.94% 7.45% 96.61%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$100.0K -$100.0K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $18.00M $5.000M
YoY Change -100.0%
Cash From Investing Activities $0.00 $17.90M $4.900M
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 100.0K 100.0K 100.0K
YoY Change 0.0% -114.29% -99.85%
NET CHANGE
Cash From Operating Activities -9.500M -10.10M -11.60M
Cash From Investing Activities 0.000 17.90M 4.900M
Cash From Financing Activities 100.0K 100.0K 100.0K
Net Change In Cash -9.400M 7.900M -6.600M
YoY Change -218.99% -178.22% -110.65%
FREE CASH FLOW
Cash From Operating Activities -$9.500M -$10.10M -$11.60M
Capital Expenditures $0.00 -$100.0K -$100.0K
Free Cash Flow -$9.500M -$10.00M -$11.50M
YoY Change -5.0% 6.38% 94.92%

Facts In Submission

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<p style="text-align:justify;margin-top:18pt;margin-bottom: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) Use of Estimates</p> <p style="text-align:justify;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;"><font style="Background-color:#FFFFFF;">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 income and expenses during the reporting period. Actual results could differ materially from those estimates.</font></p>
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CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
5000000
CY2019Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
173000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
61000
CY2019Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
46000
CY2018Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
25000
CY2019Q3 ovid Clinical Trials Accrual Current
ClinicalTrialsAccrualCurrent
1479223
CY2018Q4 ovid Clinical Trials Accrual Current
ClinicalTrialsAccrualCurrent
1352133
CY2019Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2109293
CY2018Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2779021
CY2019Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
856463
CY2018Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
772785
CY2019Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
236716
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
184923
us-gaap Common Stock Voting Rights
CommonStockVotingRights
one vote for each share held
ovid Payment Of Share Issuance Expenses By Persons Owning Ten Percent Or More Of Common Stock
PaymentOfShareIssuanceExpensesByPersonsOwningTenPercentOrMoreOfCommonStock
0
CY2019Q1 ovid Maximum Allowable Owning Percentage Of Outstanding Common Stock By Associates Or Affiliates
MaximumAllowableOwningPercentageOfOutstandingCommonStockByAssociatesOrAffiliates
0.0999
CY2019Q1 ovid Maximum Allowable Voting Right Percentage Of Outstanding Common Stock Holders
MaximumAllowableVotingRightPercentageOfOutstandingCommonStockHolders
0.1499
CY2019Q1 ovid Payment Of Share Issuance Expenses By Persons Owning Ten Percent Or More Of Common Stock
PaymentOfShareIssuanceExpensesByPersonsOwningTenPercentOrMoreOfCommonStock
0
us-gaap Dividend Payment Restrictions Schedule Description
DividendPaymentRestrictionsScheduleDescription
No dividends on the common stock shall be declared and paid unless dividends on the Preferred Stock have been declared and paid.
us-gaap Dividends
Dividends
0
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1184482
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1693606
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4078929
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5332781
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1956115
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
791740
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5878758
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
3111477
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.10
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.02
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
6.63
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.28
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
7.92
ovid Share Based Compensation By Share Based Payment Award Options Granted Contractual Life
ShareBasedCompensationByShareBasedPaymentAwardOptionsGrantedContractualLife
P9Y5M16D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y9M7D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P6Y9M3D
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2411391
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
252705
CY2019Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
6600000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3D
us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
0
CY2018Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0

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