$OVID
Ovid Therapeutics Inc.

2019 Q3 Form 10-Q Financial Statement

#000156459020053666 Filed on November 13, 2020

View on sec.gov

Income Statement

Concept 2019 Q3 2019 Q2 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 $5.200M $4.200M $4.700M
YoY Change 13.04% -17.65% -6.0%
% of Gross Profit
Research & Development $11.60M $9.117M $9.337M
YoY Change 35.73% 12.33% 10.18%
% of Gross Profit
Depreciation & Amortization $10.00K $9.000K $76.54K
YoY Change 42.86% 0.0% 190.21%
% of Gross Profit
Operating Expenses $16.77M $13.32M $14.05M
YoY Change 27.24% 0.85% 4.64%
Operating Profit -$16.77M -$13.32M -$14.05M
YoY Change 0.85% 4.64%
Interest Expense $100.0K $300.0K $300.0K
YoY Change -50.0% 0.0% 50.0%
% of Operating Profit
Other Income/Expense, Net $131.0K $265.0K $253.3K
YoY Change -38.79% -3.64% 2.57%
Pretax Income -$16.60M -$13.10M -$13.80M
YoY Change 27.69% 1.55% 4.55%
Income Tax
% Of Pretax Income
Net Earnings -$16.63M -$13.06M -$13.80M
YoY Change 28.33% 0.95% 4.68%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$431.2K -$338.5K -$455.4K
COMMON SHARES
Basic Shares Outstanding 38.69M 38.65M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q3 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $37.90M $47.40M $59.64M
YoY Change -27.81% -24.28% -19.58%
Cash & Equivalents $37.91M $47.36M $54.60M
Short-Term Investments $0.00 $0.00 $5.041M
Other Short-Term Assets $1.200M $4.700M $1.900M
YoY Change -55.56% 80.77% 26.67%
Inventory
Prepaid Expenses
Receivables $0.00 $1.600M $1.300M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $39.15M $53.61M $62.80M
YoY Change -29.14% -17.78% -17.03%
LONG-TERM ASSETS
Property, Plant & Equipment $72.24K $58.78K $66.16K
YoY Change -27.76% -41.23% -33.84%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $351.3K $270.9K $331.1K
YoY Change -93.11% -92.03% -88.58%
Total Long-Term Assets $1.544M $1.301M $3.856M
YoY Change -70.0% -61.73% 28.02%
TOTAL ASSETS
Total Short-Term Assets $39.15M $53.61M $62.80M
Total Long-Term Assets $1.544M $1.301M $3.856M
Total Assets $40.69M $54.91M $66.66M
YoY Change -32.63% -19.96% -15.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.342M $2.048M $4.410M
YoY Change 16.12% -39.76% 83.77%
Accrued Expenses $4.682M $7.136M $3.661M
YoY Change -19.28% 74.04% -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 $10.36M $9.184M $8.072M
YoY Change -0.37% 22.45% 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
Total Long-Term Liabilities $300.0K $300.0K $1.300M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $10.36M $9.184M $8.072M
Total Long-Term Liabilities $300.0K $300.0K $1.300M
Total Liabilities $10.65M $9.470M $9.410M
YoY Change 2.38% 26.27% 42.57%
SHAREHOLDERS EQUITY
Retained Earnings -$196.2M -$179.6M -$166.5M
YoY Change 46.18%
Common Stock $226.2M $225.0M $223.7M
YoY Change 19.23% 20.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $30.05M $45.44M $57.25M
YoY Change
Total Liabilities & Shareholders Equity $40.69M $54.91M $66.66M
YoY Change -32.63% -19.96% -15.27%

Cashflow Statement

Concept 2019 Q3 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income -$16.63M -$13.06M -$13.80M
YoY Change 28.33% 0.95% 4.68%
Depreciation, Depletion And Amortization $10.00K $9.000K $76.54K
YoY Change 42.86% 0.0% 190.21%
Cash From Operating Activities -$9.500M -$11.80M -$12.87M
YoY Change -5.94% 1.72% -0.46%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $4.324K
YoY Change -100.0% -100.0% -42.96%
Acquisitions
YoY Change
Other Investing Activities $0.00 $5.000M $0.00
YoY Change -100.0% 0.0% -100.0%
Cash From Investing Activities $0.00 $5.000M -$8.974K
YoY Change -100.0% 2.04% -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 100.0K -400.0K 30.99M
YoY Change 0.0% -500.0% 40994.71%
NET CHANGE
Cash From Operating Activities -9.500M -11.80M -12.87M
Cash From Investing Activities 0.000 5.000M -8.974K
Cash From Financing Activities 100.0K -400.0K 30.99M
Net Change In Cash -9.400M -7.200M 18.11M
YoY Change -218.99% 9.09% -131.27%
FREE CASH FLOW
Cash From Operating Activities -$9.500M -$11.80M -$12.87M
Capital Expenditures $0.00 $0.00 $4.324K
Free Cash Flow -$9.500M -$11.80M -$12.87M
YoY Change -5.0% 2.61% -0.49%

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-size:9pt;font-family:Times New Roman;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-size:9pt;font-family:Times New Roman;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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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7405295
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1646660
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
113436
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
360605
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8577914
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
4020074
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
4.82
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.45
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
5.12
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.70
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
7.45
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3D
ovid Share Based Compensation By Share Based Payment Award Options Granted Contractual Life
ShareBasedCompensationByShareBasedPaymentAwardOptionsGrantedContractualLife
P9Y7M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y3M21D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P5Y6M7D
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
488384
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
10465784
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
1772932
CY2020Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
9900000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M18D
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.

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