$OVID
Ovid Therapeutics Inc.

2020 Q2 Form 10-Q Financial Statement

#000156459020038644 Filed on August 10, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.100M $4.200M
YoY Change 69.05% -17.65%
% of Gross Profit
Research & Development $16.03M $9.117M
YoY Change 75.85% 12.33%
% of Gross Profit
Depreciation & Amortization $15.00K $9.000K
YoY Change 66.67% 0.0%
% of Gross Profit
Operating Expenses $23.14M $13.32M
YoY Change 73.71% 0.85%
Operating Profit -$23.14M -$13.32M
YoY Change 73.71% 0.85%
Interest Expense $600.0K $300.0K
YoY Change 100.0% 0.0%
% of Operating Profit
Other Income/Expense, Net $590.5K $265.0K
YoY Change 122.83% -3.64%
Pretax Income -$22.55M -$13.10M
YoY Change 72.15% 1.55%
Income Tax
% Of Pretax Income
Net Earnings -$22.55M -$13.06M
YoY Change 72.71% 0.95%
Net Earnings / Revenue
Basic Earnings Per Share -$0.41
Diluted Earnings Per Share -$0.41 -$338.5K
COMMON SHARES
Basic Shares Outstanding 55.61M
Diluted Shares Outstanding 55.61M

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $41.30M $47.40M
YoY Change -12.87% -24.28%
Cash & Equivalents $41.25M $47.36M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $2.300M $4.700M
YoY Change -51.06% 80.77%
Inventory
Prepaid Expenses
Receivables $600.0K $1.600M
Other Receivables $0.00 $0.00
Total Short-Term Assets $44.10M $53.61M
YoY Change -17.73% -17.78%
LONG-TERM ASSETS
Property, Plant & Equipment $100.0K $58.78K
YoY Change 70.14% -41.23%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $800.0K $270.9K
YoY Change 195.26% -92.03%
Total Long-Term Assets $1.300M $1.301M
YoY Change -0.09% -61.73%
TOTAL ASSETS
Total Short-Term Assets $44.10M $53.61M
Total Long-Term Assets $1.300M $1.301M
Total Assets $45.40M $54.91M
YoY Change -17.32% -19.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.600M $2.048M
YoY Change 124.6% -39.76%
Accrued Expenses $9.900M $7.136M
YoY Change 38.74% 74.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $14.59M $9.184M
YoY Change 58.82% 22.45%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $300.0K $300.0K
YoY Change 0.0%
Total Long-Term Liabilities $300.0K $300.0K
YoY Change 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.59M $9.184M
Total Long-Term Liabilities $300.0K $300.0K
Total Liabilities $14.87M $9.470M
YoY Change 57.04% 26.27%
SHAREHOLDERS EQUITY
Retained Earnings -$255.7M -$179.6M
YoY Change 42.43%
Common Stock $286.2M $225.0M
YoY Change 27.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $30.48M $45.44M
YoY Change
Total Liabilities & Shareholders Equity $45.36M $54.91M
YoY Change -17.4% -19.96%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$22.55M -$13.06M
YoY Change 72.71% 0.95%
Depreciation, Depletion And Amortization $15.00K $9.000K
YoY Change 66.67% 0.0%
Cash From Operating Activities -$17.20M -$11.80M
YoY Change 45.76% 1.72%
INVESTING ACTIVITIES
Capital Expenditures -$100.0K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $31.00M $5.000M
YoY Change 520.0% 0.0%
Cash From Investing Activities $31.00M $5.000M
YoY Change 520.0% 2.04%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 200.0K -400.0K
YoY Change -150.0% -500.0%
NET CHANGE
Cash From Operating Activities -17.20M -11.80M
Cash From Investing Activities 31.00M 5.000M
Cash From Financing Activities 200.0K -400.0K
Net Change In Cash 14.00M -7.200M
YoY Change -294.44% 9.09%
FREE CASH FLOW
Cash From Operating Activities -$17.20M -$11.80M
Capital Expenditures -$100.0K $0.00
Free Cash Flow -$17.10M -$11.80M
YoY Change 44.92% 2.61%

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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ShareBasedCompensationByShareBasedPaymentAwardOptionsGrantedContractualLife
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P5Y7M2D
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
4488930
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
348070
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
2927265
CY2020Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
9200000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M7D
us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
0
ovid Refundable Taxes And Tax Credits
RefundableTaxesAndTaxCredits
500000
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.
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
3840894
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.82
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.33
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.23
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
4.49
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.68
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
7.54
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3D

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