$SAGE
Sage Therapeutics, Inc.

2015 Q4 Form 10-K Financial Statement

#000119312516485683 Filed on February 29, 2016

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q2 2015
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.200M $6.500M $25.30M
YoY Change 141.18% 261.11% 160.82%
% of Gross Profit
Research & Development $20.40M $18.60M $69.36M
YoY Change 129.21% 324.63% 187.79%
% of Gross Profit
Depreciation & Amortization $0.00 $100.0K $100.0K
YoY Change -100.0% 0.0%
% of Gross Profit
Operating Expenses $28.61M $25.06M $94.65M
YoY Change 131.47% 304.96% 179.95%
Operating Profit -$28.61M -$25.06M -$94.65M
YoY Change 131.47% 304.96% 179.95%
Interest Expense $100.0K $41.00K $178.0K
YoY Change 4000.0% 2125.0%
% of Operating Profit
Other Income/Expense, Net $0.00 -$9.000K -$23.00K
YoY Change 80.0% 155.56%
Pretax Income -$28.60M -$25.00M -$94.50M
YoY Change 130.65% 303.23% 179.59%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$28.56M -$25.03M -$94.50M
YoY Change 131.07% 304.18% 179.48%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$993.1K -$896.1K -$3.399M
COMMON SHARES
Basic Shares Outstanding 28.86M shares 27.86M shares 27.78M
Diluted Shares Outstanding 27.86M shares 27.78M

Balance Sheet

Concept 2015 Q4 2015 Q2 2015
SHORT-TERM ASSETS
Cash & Short-Term Investments $186.8M $224.2M $186.8M
YoY Change 46.17% 356.62% 46.17%
Cash & Equivalents $186.8M $224.2M $186.8M
Short-Term Investments
Other Short-Term Assets $1.700M $3.300M $1.700M
YoY Change 54.55% 37.5% 54.55%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $188.5M $227.5M $188.5M
YoY Change 46.32% 341.39% 46.35%
LONG-TERM ASSETS
Property, Plant & Equipment $286.0K $285.0K $300.0K
YoY Change 75.46% 313.04% 50.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $200.0K $700.0K $200.0K
YoY Change -71.43% -71.43%
Total Long-Term Assets $525.0K $965.0K $500.0K
YoY Change -37.72% 793.52% -44.44%
TOTAL ASSETS
Total Short-Term Assets $188.5M $227.5M $188.5M
Total Long-Term Assets $525.0K $965.0K $500.0K
Total Assets $189.0M $228.5M $189.0M
YoY Change 45.77% 342.34% 45.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.159M $5.195M $5.200M
YoY Change 112.39% 179.0% 116.67%
Accrued Expenses $10.15M $5.164M $2.700M
YoY Change 116.51% 149.59% 107.69%
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 $15.31M $11.00M $15.30M
YoY Change 97.33% 179.83% 96.15%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $14.00K $22.00K $0.00
YoY Change -39.13% -45.0%
Total Long-Term Liabilities $14.00K $22.00K $0.00
YoY Change -39.13% -45.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.31M $11.00M $15.30M
Total Long-Term Liabilities $14.00K $22.00K $0.00
Total Liabilities $15.32M $11.02M $15.30M
YoY Change 96.93% 177.56% 96.15%
SHAREHOLDERS EQUITY
Retained Earnings -$161.3M -$108.7M
YoY Change 141.36% 142.77%
Common Stock $335.0M $326.2M
YoY Change 77.52%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $173.7M $217.5M $173.7M
YoY Change
Total Liabilities & Shareholders Equity $189.0M $228.5M $189.0M
YoY Change 45.77% 342.34% 45.72%

Cashflow Statement

Concept 2015 Q4 2015 Q2 2015
OPERATING ACTIVITIES
Net Income -$28.56M -$25.03M -$94.50M
YoY Change 131.07% 304.18% 179.48%
Depreciation, Depletion And Amortization $0.00 $100.0K $100.0K
YoY Change -100.0% 0.0%
Cash From Operating Activities -$18.10M -$18.40M -$70.70M
YoY Change 110.47% 247.17% 161.85%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$100.0K $198.0K
YoY Change 54.69%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$100.0K -$200.0K
YoY Change 100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $129.1M $129.7M
YoY Change 34.77%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 100.0K 129.6M 129.9M
YoY Change -150.0% -13060.0% -11.57%
NET CHANGE
Cash From Operating Activities -18.10M -18.40M -70.70M
Cash From Investing Activities 0.000 -100.0K -200.0K
Cash From Financing Activities 100.0K 129.6M 129.9M
Net Change In Cash -18.00M 111.1M 59.00M
YoY Change 104.55% -1863.49% -50.75%
FREE CASH FLOW
Cash From Operating Activities -$18.10M -$18.40M -$70.70M
Capital Expenditures $0.00 -$100.0K $198.0K
Free Cash Flow -$18.10M -$18.30M -$70.90M
YoY Change 110.47% 245.28% 161.35%

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For tax positions meeting the more likely than not threshold, the tax amount recognized in the financial statements is reduced by the largest benefit that has a greater than fifty percent likelihood of being realized upon the ultimate settlement with the relevant taxing authority.
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DocumentType
10-K
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EntityCentralIndexKey
0001597553
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EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.001 pure
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EntityFilerCategory
Large Accelerated Filer
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IncrementalCommonSharesAttributableToConversionOfPreferredStock
0 shares
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EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.340 pure
CY2015 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i>Concentration of Credit Risk and of Significant Suppliers</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company has all cash and cash equivalents balances at two accredited financial institutions, in amounts that exceed federally insured limits. The Company does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The Company is dependent on third-party manufacturers to supply products for research and development activities in its programs. In particular, the Company relies and expects to continue to rely on a small number of manufacturers to supply it with its requirements for the active pharmaceutical ingredients and formulated drugs related to these programs. These programs could be adversely affected by a significant interruption in the supply of active pharmaceutical ingredients and formulated drugs.</p> </div>
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0.9054 pure
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Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company's stockholders.
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CY2015 us-gaap Stockholders Equity Reverse Stock Split
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In connection with preparing for the IPO, the Company's board of directors and stockholders approved a 1-for-3.15 reverse stock split of the Company's common stock
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CurrentFiscalYearEndDate
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CY2015 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2015 dei Entity Registrant Name
EntityRegistrantName
Sage Therapeutics, Inc.
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EntityWellKnownSeasonedIssuer
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EntityVoluntaryFilers
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2015-12-31
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> </div>
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SAGE
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27778288 shares
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2031
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OperatingIncomeLoss
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OperatingExpenses
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