$SAGE
Sage Therapeutics, Inc.

2020 Q1 Form 10-Q Financial Statement

#000156459020022891 Filed on May 07, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $2.286M $465.0K
YoY Change 391.61%
Cost Of Revenue $200.0K
YoY Change
Gross Profit $2.100M
YoY Change
Gross Profit Margin 91.86%
Selling, General & Admin $70.10M $83.92M
YoY Change -16.47% 191.39%
% of Gross Profit 3338.1%
Research & Development $63.61M $86.40M
YoY Change -26.38% 75.36%
% of Gross Profit 3029.05%
Depreciation & Amortization $700.0K $400.0K
YoY Change 75.0% 100.0%
% of Gross Profit 33.33%
Operating Expenses $133.9M $170.3M
YoY Change -21.38% 118.02%
Operating Profit -$131.6M -$169.9M
YoY Change -22.51% 117.43%
Interest Expense $4.729M $6.442M
YoY Change -26.59% 84.06%
% of Operating Profit
Other Income/Expense, Net $155.0K $4.000K
YoY Change 3775.0%
Pretax Income -$126.7M -$163.4M
YoY Change -22.46% 119.03%
Income Tax
% Of Pretax Income
Net Earnings -$126.7M -$163.4M
YoY Change -22.44% 119.05%
Net Earnings / Revenue -5544.18% -35141.08%
Basic Earnings Per Share -$2.44
Diluted Earnings Per Share -$2.44 -$3.369M
COMMON SHARES
Basic Shares Outstanding 51.91M 48.49M
Diluted Shares Outstanding 51.91M 48.49M

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $875.1M $1.354B
YoY Change -35.35% 24.78%
Cash & Equivalents $201.8M $344.7M
Short-Term Investments $673.3M $1.009B
Other Short-Term Assets $25.50M $20.30M
YoY Change 25.62% 75.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $898.2M $1.372B
YoY Change -34.51% 25.24%
LONG-TERM ASSETS
Property, Plant & Equipment $8.684M $6.513M
YoY Change 33.33% 51.47%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.694M $4.378M
YoY Change -15.62% 236.77%
Total Long-Term Assets $46.74M $51.38M
YoY Change -9.04% 817.54%
TOTAL ASSETS
Total Short-Term Assets $898.2M $1.372B
Total Long-Term Assets $46.74M $51.38M
Total Assets $945.0M $1.423B
YoY Change -33.59% 29.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.910M $13.56M
YoY Change -41.65% 61.38%
Accrued Expenses $52.18M $47.65M
YoY Change 9.5% 935.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $70.36M $68.40M
YoY Change 2.87% 80.47%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $25.40M $35.00M
YoY Change -27.43% 900.0%
Total Long-Term Liabilities $25.40M $35.00M
YoY Change -27.43% 900.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $70.36M $68.40M
Total Long-Term Liabilities $25.40M $35.00M
Total Liabilities $95.80M $103.4M
YoY Change -7.35% 149.76%
SHAREHOLDERS EQUITY
Retained Earnings -$1.800B -$1.127B
YoY Change 59.75%
Common Stock $2.447B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $849.2M $1.320B
YoY Change
Total Liabilities & Shareholders Equity $945.0M $1.423B
YoY Change -33.59% 29.27%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$126.7M -$163.4M
YoY Change -22.44% 119.05%
Depreciation, Depletion And Amortization $700.0K $400.0K
YoY Change 75.0% 100.0%
Cash From Operating Activities -$136.7M -$149.9M
YoY Change -8.83% 90.83%
INVESTING ACTIVITIES
Capital Expenditures $276.0K $1.257M
YoY Change -78.04% 92.79%
Acquisitions
YoY Change
Other Investing Activities $206.5M -$273.7M
YoY Change -175.45% -12.3%
Cash From Investing Activities $206.3M -$274.9M
YoY Change -175.03% -12.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $561.3M
YoY Change -11.12%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.160M 576.2M
YoY Change -99.45% -10.41%
NET CHANGE
Cash From Operating Activities -136.7M -149.9M
Cash From Investing Activities 206.3M -274.9M
Cash From Financing Activities 3.160M 576.2M
Net Change In Cash 72.74M 151.4M
YoY Change -51.94% -39.88%
FREE CASH FLOW
Cash From Operating Activities -$136.7M -$149.9M
Capital Expenditures $276.0K $1.257M
Free Cash Flow -$137.0M -$151.2M
YoY Change -9.41% 90.84%

Facts In Submission

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<p style="margin-top:7pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:11pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of condensed 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 condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. <span style="Background-color:#FFFFFF;color:#212529;">The full extent to which the COVID-19 pandemic will directly or indirectly impact the Company’s business, results of operations and financial condition, including sales, expenses, reserves and allowances, manufacturing, clinical trials, research and development costs and employee-related amounts, will depend on future developments that are highly uncertain, including as a result of new information that may emerge concerning COVID-19 and the actions taken to contain it or treat COVID-19. The Company has made estimates of the impact of COVID-19 within its financial statements and there may be changes to those estimates in future periods. </span>Actual results could differ from those estimates.</p>
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WeightedAverageNumberOfSharesOutstandingBasic
51908760
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48491834
CY2020Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0
CY2019Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51908760
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48491834
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.44
CY2019Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-3.37
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8180719
CY2019Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7556233

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