2020 Q3 Form 10-Q Financial Statement
#000156459020050861 Filed on November 05, 2020
Income Statement
Concept | 2020 Q3 | 2019 Q3 |
---|---|---|
Revenue | $1.639M | $3.570M |
YoY Change | -54.09% | |
Cost Of Revenue | $100.0K | $100.0K |
YoY Change | 0.0% | |
Gross Profit | $1.500M | $3.400M |
YoY Change | -55.88% | |
Gross Profit Margin | 91.52% | 95.24% |
Selling, General & Admin | $35.10M | $88.50M |
YoY Change | -60.34% | 64.83% |
% of Gross Profit | 2340.0% | 2602.94% |
Research & Development | $74.10M | $102.1M |
YoY Change | -27.43% | 36.05% |
% of Gross Profit | 4940.0% | 3003.18% |
Depreciation & Amortization | $700.0K | $700.0K |
YoY Change | 0.0% | 133.33% |
% of Gross Profit | 46.67% | 20.59% |
Operating Expenses | $108.8M | $190.7M |
YoY Change | -42.96% | 48.16% |
Operating Profit | -$107.2M | -$187.2M |
YoY Change | -42.75% | 45.39% |
Interest Expense | $1.300M | $7.200M |
YoY Change | -81.94% | 23.78% |
% of Operating Profit | ||
Other Income/Expense, Net | $100.0K | $0.00 |
YoY Change | -100.0% | |
Pretax Income | -$105.7M | -$180.0M |
YoY Change | -41.28% | 46.46% |
Income Tax | ||
% Of Pretax Income | ||
Net Earnings | -$105.7M | -$180.0M |
YoY Change | -41.24% | 46.4% |
Net Earnings / Revenue | -6451.19% | -5040.84% |
Basic Earnings Per Share | -$2.03 | |
Diluted Earnings Per Share | -$2.03 | -$3.482M |
COMMON SHARES | ||
Basic Shares Outstanding | 51.98M | 51.70M |
Diluted Shares Outstanding | 51.98M | 51.70M |
Balance Sheet
Concept | 2020 Q3 | 2019 Q3 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $670.9M | $1.125B |
YoY Change | -40.34% | 9.9% |
Cash & Equivalents | $186.6M | $261.5M |
Short-Term Investments | $484.3M | $863.1M |
Other Short-Term Assets | $30.30M | $30.40M |
YoY Change | -0.33% | 64.32% |
Inventory | ||
Prepaid Expenses | ||
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $698.9M | $1.153B |
YoY Change | -39.37% | 10.85% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $7.404M | $9.365M |
YoY Change | -20.94% | 80.1% |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $5.800M | $3.818M |
YoY Change | 51.91% | 100.95% |
Total Long-Term Assets | $39.70M | $51.03M |
YoY Change | -22.2% | 618.69% |
TOTAL ASSETS | ||
Total Short-Term Assets | $698.9M | $1.153B |
Total Long-Term Assets | $39.70M | $51.03M |
Total Assets | $738.6M | $1.204B |
YoY Change | -38.64% | 14.97% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | -$24.90M | $5.041M |
YoY Change | -593.95% | -14.56% |
Accrued Expenses | $46.76M | $78.13M |
YoY Change | -40.15% | 491.87% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $59.70M | $90.96M |
YoY Change | -34.36% | 66.89% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Other Long-Term Liabilities | $21.40M | $340.0K |
YoY Change | 6194.12% | -91.5% |
Total Long-Term Liabilities | $21.40M | $340.0K |
YoY Change | 6194.12% | -91.5% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $59.70M | $90.96M |
Total Long-Term Liabilities | $21.40M | $340.0K |
Total Liabilities | $81.00M | $122.7M |
YoY Change | -33.96% | 109.67% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$2.000B | -$1.475B |
YoY Change | 35.6% | 83.23% |
Common Stock | $2.555B | |
YoY Change | 42.4% | |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $657.6M | $1.081B |
YoY Change | ||
Total Liabilities & Shareholders Equity | $738.6M | $1.204B |
YoY Change | -38.64% | 14.97% |
Cashflow Statement
Concept | 2020 Q3 | 2019 Q3 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$105.7M | -$180.0M |
YoY Change | -41.24% | 46.4% |
Depreciation, Depletion And Amortization | $700.0K | $700.0K |
YoY Change | 0.0% | 133.33% |
Cash From Operating Activities | -$91.00M | -$128.7M |
YoY Change | -29.29% | 60.47% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $0.00 | -$2.000M |
YoY Change | -100.0% | 100.0% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $13.50M | $209.7M |
YoY Change | -93.56% | 18963.64% |
Cash From Investing Activities | $13.50M | $207.8M |
YoY Change | -93.5% | |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | 3.600M | 14.00M |
YoY Change | -74.29% | 75.0% |
NET CHANGE | ||
Cash From Operating Activities | -91.00M | -128.7M |
Cash From Investing Activities | 13.50M | 207.8M |
Cash From Financing Activities | 3.600M | 14.00M |
Net Change In Cash | -73.90M | 93.10M |
YoY Change | -179.38% | -228.95% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$91.00M | -$128.7M |
Capital Expenditures | $0.00 | -$2.000M |
Free Cash Flow | -$91.00M | -$126.7M |
YoY Change | -28.18% | 59.97% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2020Q3 | us-gaap |
Type Of Revenue Extensible List
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us-gaap |
Type Of Revenue Extensible List
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Type Of Revenue Extensible List
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us-gaap |
Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
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Lessor Operating Lease Option To Extend
LessorOperatingLeaseOptionToExtend
|
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Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
24168000 | |
CY2020Q2 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
2501000 | |
CY2020Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-136347000 | |
CY2020Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
739915000 | |
CY2019Q4 | us-gaap |
Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
|
P3Y | |
CY2020Q1 | us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
2793000 | |
CY2020Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
30218000 | |
CY2020Q1 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
-2087000 | |
CY2020Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-126740000 | |
CY2019Q3 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
12436000 | |
CY2019Q3 | us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
3946000 | |
CY2019Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
43053000 | |
CY2019Q3 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
202000 | |
CY2019Q3 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
-1483000 | |
CY2019Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-179958000 | |
CY2019Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1081071000 | |
CY2019Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
944655000 | |
CY2020Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
367000 | |
CY2020Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
849206000 | |
CY2020Q2 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
387000 | |
CY2020Q3 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
2157000 | |
CY2020Q3 | us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
2144000 | |
CY2020Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
19863000 | |
CY2020Q3 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
-763000 | |
CY2020Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-105735000 | |
CY2020Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
657581000 | |
CY2020Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-2000000000.0 | |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="margin-top:9pt;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-top:6pt;margin-bottom:0pt;text-indent:4.54%;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 developments related to the scope and duration of the pandemic; the timing, extent and frequency of surges in the number of cases of COVID-19; new information that may emerge concerning COVID-19; and the actions taken to contain the COVID-19 pandemic. The Company has made estimates of the impact of the COVID-19 pandemic within its consolidated financial statements, and there may be changes to those estimates in future periods. </span>Actual results could differ from those estimates.</p> | ||
CY2020Q3 | us-gaap |
Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
|
484267000 | |
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Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
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Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
|
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Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
978000 | |
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Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
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32000 | |
CY2020Q3 | us-gaap |
Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
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CY2019Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
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CY2020Q3 | sage |
Marketable Securities Held To Maturity Fair Value
MarketableSecuritiesHeldToMaturityFairValue
|
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us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
0 | ||
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Asset Impairment Charges
AssetImpairmentCharges
|
0 | |
us-gaap |
Depreciation
Depreciation
|
2000000.0 | ||
us-gaap |
Depreciation
Depreciation
|
1600000 | ||
CY2020Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
13843000 | |
CY2019Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
13625000 | |
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Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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|
6439000 | |
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Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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4499000 | |
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Property Plant And Equipment Net
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|
7404000 | |
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Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
9126000 | |
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Depreciation
Depreciation
|
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Accrued Research And Development Costs
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|
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CY2019Q4 | sage |
Accrued Research And Development Costs
AccruedResearchAndDevelopmentCosts
|
46940000 | |
CY2020Q3 | sage |
Accrued Restructuring Expenses
AccruedRestructuringExpenses
|
1356000 | |
CY2020Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
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CY2019Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
22011000 | |
CY2020Q3 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
6045000 | |
CY2019Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
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CY2020Q3 | us-gaap |
Other Accrued Liabilities Current
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|
975000 | |
CY2019Q4 | us-gaap |
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947000 | |
CY2020Q3 | us-gaap |
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|
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Lessor Operating Lease Renewal Term
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|
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|
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Lease Expiration Date1
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|
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CY2020Q2 | sage |
Remaining Amount Of Lease Write Off
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|
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|
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CY2019Q1 | us-gaap |
Stock Issued During Period Shares New Issues
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|
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CY2019Q1 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
150.00 | |
CY2019Q1 | sage |
Proceeds From Issuance Of Common Stock Net Of Offering Expenses
ProceedsFromIssuanceOfCommonStockNetOfOfferingExpenses
|
560900000 | |
CY2020Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
12580983 | |
CY2020Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
|
4264646 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
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CY2020Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
0 | |
sage |
Stock Option Modification As Part Of Restructuring
StockOptionModificationAsPartOfRestructuring
|
1788000 | ||
CY2020Q3 | sage |
Allocated Share Based Compensation Expense Including Restructing
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|
20108000 | |
CY2019Q3 | sage |
Allocated Share Based Compensation Expense Including Restructing
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|
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sage |
Allocated Share Based Compensation Expense Including Restructing
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|
75250000 | ||
sage |
Allocated Share Based Compensation Expense Including Restructing
AllocatedShareBasedCompensationExpenseIncludingRestructing
|
122552000 | ||
CY2020Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-2.03 | |
CY2020Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
20108000 | |
CY2019Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
43669000 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
37.04 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
99.49 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-368822000 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-511585000 | ||
CY2020Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
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|
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CY2019Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
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us-gaap |
Weighted Average Number Of Shares Outstanding Basic
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|
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us-gaap |
Weighted Average Number Of Shares Outstanding Basic
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|
50496489 | ||
CY2020Q3 | us-gaap |
Incremental Common Shares Attributable To Conversion Of Preferred Stock
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|
0 | |
CY2019Q3 | us-gaap |
Incremental Common Shares Attributable To Conversion Of Preferred Stock
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Incremental Common Shares Attributable To Conversion Of Preferred Stock
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us-gaap |
Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
|
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CY2020Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
51981468 | |
CY2019Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
51704687 | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
51938923 | ||
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
50496489 | ||
CY2019Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-3.48 | |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-7.10 | ||
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-10.13 | ||
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
7451326 | ||
CY2020Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
7451326 | |
CY2019Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
7096222 | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
7096222 | ||
CY2020Q2 | sage |
Operating Expenses Workforce Reduction Percentage
OperatingExpensesWorkforceReductionPercentage
|
0.53 | |
us-gaap |
Restructuring Charges
RestructuringCharges
|
27873000 | ||
us-gaap |
Payments For Restructuring
PaymentsForRestructuring
|
24079000 | ||
us-gaap |
Restructuring Reserve Settled Without Cash2
RestructuringReserveSettledWithoutCash2
|
2438000 | ||
CY2020Q3 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
1356000 |