$OVID
Ovid Therapeutics Inc.

2020 Q1 Form 10-Q Financial Statement

#000156459020023002 Filed on May 07, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q4 2019 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 $5.700M $5.200M $4.700M
YoY Change 21.28% 15.56% -6.0%
% of Gross Profit
Research & Development $14.63M $12.10M $9.337M
YoY Change 56.63% 40.7% 10.18%
% of Gross Profit
Depreciation & Amortization $66.88K $100.0K $76.54K
YoY Change -12.62% 190.21%
% of Gross Profit
Operating Expenses $20.29M $17.27M $14.05M
YoY Change 44.41% 31.65% 4.64%
Operating Profit -$20.29M -$14.05M
YoY Change 44.41% 4.64%
Interest Expense $300.0K $300.0K $300.0K
YoY Change 0.0% 50.0% 50.0%
% of Operating Profit
Other Income/Expense, Net $264.3K $299.0K $253.3K
YoY Change 4.32% 38.43% 2.57%
Pretax Income -$20.03M -$17.00M -$13.80M
YoY Change 45.15% 31.78% 4.55%
Income Tax
% Of Pretax Income
Net Earnings -$20.03M -$16.97M -$13.80M
YoY Change 45.14% 31.53% 4.68%
Net Earnings / Revenue
Basic Earnings Per Share -$0.37
Diluted Earnings Per Share -$0.37 -$344.8K -$455.4K
COMMON SHARES
Basic Shares Outstanding 54.72M 38.65M
Diluted Shares Outstanding 54.72M

Balance Sheet

Concept 2020 Q1 2019 Q4 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $58.33M $76.74M $59.64M
YoY Change -2.19% 84.91% -19.58%
Cash & Equivalents $27.34M $41.90M $54.60M
Short-Term Investments $31.00M $34.84M $5.041M
Other Short-Term Assets $2.000M $1.900M $1.900M
YoY Change 5.26% -32.14% 26.67%
Inventory
Prepaid Expenses
Receivables $400.0K $1.100M $1.300M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $60.74M $79.81M $62.80M
YoY Change -3.28% 80.29% -17.03%
LONG-TERM ASSETS
Property, Plant & Equipment $109.0K $68.36K $66.16K
YoY Change 64.82% -2.15% -33.84%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $436.3K $467.2K $331.1K
YoY Change 31.77% 19.23% -88.58%
Total Long-Term Assets $985.7K $1.031M $3.856M
YoY Change -74.43% -69.52% 28.02%
TOTAL ASSETS
Total Short-Term Assets $60.74M $79.81M $62.80M
Total Long-Term Assets $985.7K $1.031M $3.856M
Total Assets $61.72M $80.84M $66.66M
YoY Change -7.4% 69.66% -15.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.992M $3.256M $4.410M
YoY Change -9.49% -13.3% 83.77%
Accrued Expenses $5.989M $7.267M $3.661M
YoY Change 63.58% 42.8% -12.83%
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 $9.992M $10.53M $8.072M
YoY Change 23.79% 19.1% 22.3%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $300.0K $300.0K $1.300M
YoY Change -76.92%
Total Long-Term Liabilities $300.0K $300.0K $1.300M
YoY Change -76.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.992M $10.53M $8.072M
Total Long-Term Liabilities $300.0K $300.0K $1.300M
Total Liabilities $10.28M $10.82M $9.410M
YoY Change 9.23% 22.34% 42.57%
SHAREHOLDERS EQUITY
Retained Earnings -$233.2M -$213.2M -$166.5M
YoY Change 40.06% 39.6% 46.18%
Common Stock $284.6M $283.2M $223.7M
YoY Change 27.19% 47.87% 20.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $51.44M $70.02M $57.25M
YoY Change
Total Liabilities & Shareholders Equity $61.72M $80.84M $66.66M
YoY Change -7.4% 69.66% -15.27%

Cashflow Statement

Concept 2020 Q1 2019 Q4 2019 Q1
OPERATING ACTIVITIES
Net Income -$20.03M -$16.97M -$13.80M
YoY Change 45.14% 31.53% 4.68%
Depreciation, Depletion And Amortization $66.88K $100.0K $76.54K
YoY Change -12.62% 190.21%
Cash From Operating Activities -$18.41M -$16.90M -$12.87M
YoY Change 43.1% 53.64% -0.46%
INVESTING ACTIVITIES
Capital Expenditures $14.14K -$200.0K $4.324K
YoY Change 226.99% 100.0% -42.96%
Acquisitions
YoY Change
Other Investing Activities $4.000M -$34.80M $0.00
YoY Change -304.71% -100.0%
Cash From Investing Activities $3.836M -$35.00M -$8.974K
YoY Change -42844.9% -307.1% -99.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $30.91M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 15.54K 55.80M 30.99M
YoY Change -99.95% 40994.71%
NET CHANGE
Cash From Operating Activities -18.41M -16.90M -12.87M
Cash From Investing Activities 3.836M -35.00M -8.974K
Cash From Financing Activities 15.54K 55.80M 30.99M
Net Change In Cash -14.56M 3.900M 18.11M
YoY Change -180.4% -33.9% -131.27%
FREE CASH FLOW
Cash From Operating Activities -$18.41M -$16.90M -$12.87M
Capital Expenditures $14.14K -$200.0K $4.324K
Free Cash Flow -$18.43M -$16.70M -$12.87M
YoY Change 43.16% 53.21% -0.49%

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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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Depreciation
10000
CY2020Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
436000
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
467000
CY2020Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
55000
CY2019Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
67000
CY2020Q1 ovid Clinical Trials Accrual Current
ClinicalTrialsAccrualCurrent
3018653
CY2019Q4 ovid Clinical Trials Accrual Current
ClinicalTrialsAccrualCurrent
3235527
CY2020Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1016151
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2728495
CY2020Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1705355
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1070589
CY2020Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
248813
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
232095
CY2020Q1 us-gaap Common Stock Voting Rights
CommonStockVotingRights
one vote for each share held
CY2019Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
30500000
CY2019Q4 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
33500000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
530300
CY2020Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
56027
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7879568
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
3632864
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.82
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.69
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
5.54
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y0M3D
CY2020Q1 ovid Share Based Compensation By Share Based Payment Award Options Granted Contractual Life
ShareBasedCompensationByShareBasedPaymentAwardOptionsGrantedContractualLife
P9Y10M2D
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
4488930
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2018756
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
429013
CY2020Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
9800000
CY2020Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y7M2D
CY2020Q1 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
0
CY2020Q1 us-gaap Related Party Transaction Terms And Manner Of Settlement
RelatedPartyTransactionTermsAndMannerOfSettlement
any time and for any reason, upon thirty (30) days written notice to the other party.

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