2013 Q3 Form 10-Q Financial Statement
#000110465913068496 Filed on September 06, 2013
Income Statement
Concept | 2013 Q3 | 2013 Q2 | 2012 Q2 |
---|---|---|---|
Revenue | $1.116M | $591.0K | $220.0K |
YoY Change | -97.39% | 168.64% | |
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $5.930M | $3.120M | $1.630M |
YoY Change | -33.52% | 91.41% | |
% of Gross Profit | |||
Research & Development | $15.29M | $10.05M | $6.776M |
YoY Change | -43.28% | 48.27% | |
% of Gross Profit | |||
Depreciation & Amortization | $120.0K | $110.0K | $80.00K |
YoY Change | 71.43% | 37.5% | |
% of Gross Profit | |||
Operating Expenses | $21.22M | $13.16M | $8.403M |
YoY Change | -40.87% | 56.66% | |
Operating Profit | -$20.10M | -$12.57M | -$8.183M |
YoY Change | -390.56% | 53.65% | |
Interest Expense | $1.000K | $2.000K | $230.0K |
YoY Change | -99.99% | -99.13% | |
% of Operating Profit | |||
Other Income/Expense, Net | $47.00K | $13.00K | -$2.000K |
YoY Change | 67.86% | -750.0% | |
Pretax Income | -$20.09M | -$12.56M | -$7.416M |
YoY Change | 1299.93% | 69.39% | |
Income Tax | $432.0K | $0.00 | $0.00 |
% Of Pretax Income | |||
Net Earnings | -$20.52M | -$12.56M | -$7.416M |
YoY Change | 1330.03% | 69.39% | |
Net Earnings / Revenue | -1838.8% | -2125.55% | -3370.91% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$2.052B | -$11.72B | -$8.636B |
COMMON SHARES | |||
Basic Shares Outstanding | 21.40M shares | ||
Diluted Shares Outstanding |
Balance Sheet
Concept | 2013 Q3 | 2013 Q2 | 2012 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $116.6M | $51.20M | |
YoY Change | |||
Cash & Equivalents | $76.61M | $51.18M | $2.522M |
Short-Term Investments | $40.00M | ||
Other Short-Term Assets | $395.0K | $1.183M | |
YoY Change | |||
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $121.9M | $57.05M | |
YoY Change | |||
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $652.0K | $729.0K | |
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $12.00K | $12.00K | |
YoY Change | |||
Total Long-Term Assets | $789.0K | $866.0K | |
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $121.9M | $57.05M | |
Total Long-Term Assets | $789.0K | $866.0K | |
Total Assets | $122.7M | $57.91M | |
YoY Change | |||
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $4.405M | $4.410M | |
YoY Change | |||
Accrued Expenses | $7.400M | $5.300M | |
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $14.83M | $13.31M | |
YoY Change | |||
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | |
YoY Change | |||
Other Long-Term Liabilities | $30.00K | $47.00K | |
YoY Change | |||
Total Long-Term Liabilities | $30.00K | $47.00K | |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $14.83M | $13.31M | |
Total Long-Term Liabilities | $30.00K | $47.00K | |
Total Liabilities | $28.89M | $27.49M | |
YoY Change | |||
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$216.3M | -$195.8M | |
YoY Change | |||
Common Stock | $310.1M | $22.81M | |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $93.83M | -$172.9M | -$158.7M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $122.7M | $57.91M | |
YoY Change |
Cashflow Statement
Concept | 2013 Q3 | 2013 Q2 | 2012 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$20.52M | -$12.56M | -$7.416M |
YoY Change | 1330.03% | 69.39% | |
Depreciation, Depletion And Amortization | $120.0K | $110.0K | $80.00K |
YoY Change | 71.43% | 37.5% | |
Cash From Operating Activities | -$14.37M | -$15.93M | -$6.160M |
YoY Change | -134.54% | 158.6% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$50.00K | -$190.0K | -$10.00K |
YoY Change | -58.33% | 1800.0% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$39.99M | ||
YoY Change | |||
Cash From Investing Activities | -$40.04M | -$190.0K | -$10.00K |
YoY Change | 33266.67% | 1800.0% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 79.85M | 0.000 | 8.420M |
YoY Change | 24.47% | -100.0% | |
NET CHANGE | |||
Cash From Operating Activities | -14.37M | -15.93M | -6.160M |
Cash From Investing Activities | -40.04M | -190.0K | -10.00K |
Cash From Financing Activities | 79.85M | 0.000 | 8.420M |
Net Change In Cash | 25.44M | -16.12M | 2.250M |
YoY Change | -75.92% | -816.44% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$14.37M | -$15.93M | -$6.160M |
Capital Expenditures | -$50.00K | -$190.0K | -$10.00K |
Free Cash Flow | -$14.32M | -$15.74M | -$6.150M |
YoY Change | -134.32% | 155.93% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
us-gaap |
Revenues
Revenues
|
1707000 | USD | |
dei |
Entity Registrant Name
EntityRegistrantName
|
Onconova Therapeutics, Inc. | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001130598 | ||
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2013-06-30 | ||
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2013 | ||
dei |
Document Fiscal Period Focus
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|
Q2 | ||
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Cash And Cash Equivalents At Carrying Value
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Prepaid Expense And Other Assets Current
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Prepaid Expense And Other Assets Current
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Assets Current
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Assets Current
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Property Plant And Equipment Net
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Property Plant And Equipment Net
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us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
291000 | USD | |
us-gaap |
Temporary Equity Accretion To Redemption Value
TemporaryEquityAccretionToRedemptionValue
|
-2051000 | USD | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
157000 | USD | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
207000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2540000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2844000 | USD | |
ontx |
Increase Decrease In Grants Receivable
IncreaseDecreaseInGrantsReceivable
|
-19000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-177000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
4142000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-2532000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-1107000 | USD | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
2644000 | USD | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
1413000 | USD | |
us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-20000 | USD | |
us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
3000 | USD | |
us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
3373000 | USD | |
us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-1683000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-12247000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-29884000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
6000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
473000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-6000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-473000 | USD | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
9000 | USD | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
6000 | USD | |
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
2167000 | USD | |
us-gaap |
Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
|
400000 | USD | |
us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
9486000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
12062000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
6000 | USD | |
us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
|
5000 | USD | |
us-gaap |
Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
|
-191000 | USD | |
us-gaap |
Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
|
-30346000 | USD | |
CY2011Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
2713000 | USD |
CY2013Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
51181000 | USD |
CY2012Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
|
3081644 | shares |
CY2012Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
|
2285803 | shares |
CY2013Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
|
3081644 | shares |
CY2013Q2 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
2284000 | USD |
CY2013Q2 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1555000 | USD |
CY2012Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
1811000 | USD |
CY2012Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1348000 | USD |
CY2013Q2 | ontx |
Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
|
3972000 | USD |
CY2013Q2 | us-gaap |
Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
|
818000 | USD |
CY2013Q2 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
548000 | USD |
CY2012Q4 | ontx |
Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
|
3521000 | USD |
CY2012Q4 | us-gaap |
Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
|
247000 | USD |
CY2012Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
157000 | USD |
ontx |
Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Increase In Number Of Shares Reserved For Issuance Equal To Fully Diluted Shares Calculated Annually
ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfIncreaseInNumberOfSharesReservedForIssuanceEqualToFullyDilutedSharesCalculatedAnnually
|
0.17 | pure | |
CY2011Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
|
2285803 | shares |
us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
0 | USD | |
CY2012Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
103000 | USD |
CY2013Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
379000 | USD |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2540000 | USD | |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2843000 | USD | |
CY2013Q2 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
2351000 | USD |
us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P2Y29D | ||
CY2013Q2 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
|
2796519 | shares |
us-gaap |
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
|
P7Y3M7D | ||
CY2013Q2 | us-gaap |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
|
1790647 | shares |
dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
No | ||
CY2013Q2 | ontx |
Number Of Clinical Stage Product Candidates
NumberOfClinicalStageProductCandidates
|
3 | item |
CY2013Q2 | ontx |
Number Of Preclinical Programs
NumberOfPreclinicalPrograms
|
6 | item |
CY2013Q2 | us-gaap |
Deferred Offering Costs
DeferredOfferingCosts
|
2285000 | USD |
ontx |
Common Stock Number Of Votes Per Share
CommonStockNumberOfVotesPerShare
|
1 | item | |
us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | item | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
10857939 | shares | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
15639243 | shares | |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="MARGIN: 0in 0in 0pt;"><b><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold;" size="2">1. Nature of Business</font></b></p> <p style="MARGIN: 0in 0in 0pt;"> </p> <p style="MARGIN: 0in 0in 0pt;"><b><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold;" size="2">The Company</font></b></p> <p style="MARGIN: 0in 0in 0pt;"> </p> <p style="TEXT-INDENT: 25pt; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">Onconova Therapeutics, Inc. (the “Company”) was incorporated in the State of Delaware on December 22, 1998 and commenced operations on January 1, 1999. The Company’s headquarters are located in Newtown, Pennsylvania. The Company is a clinical-stage biopharmaceutical company focused on discovering and developing novel small molecule drug candidates to treat cancer. Using its proprietary chemistry platform, the Company has created an extensive library of targeted anti-cancer agents designed to work against specific cellular pathways that are important to cancer cells. The Company believes that the drug candidates in its pipeline have the potential to be efficacious in a wide variety of cancers without causing harm to normal cells. The Company has three clinical-stage product candidates and six preclinical programs. To accelerate and broaden the development of rigosertib, the Company’s most advanced product candidate, the Company entered into a collaboration and license agreement with Baxter Healthcare SA (“Baxter”), a subsidiary of Baxter International Inc., in 2012 to commercialize rigosertib in Europe. In 2011, the Company entered into a collaboration and license agreement with SymBio Pharmaceuticals Limited (“SymBio”) to commercialize rigosertib in Japan and Korea. The Company has retained development and commercialization rights to rigosertib in the rest of the world, including the United States. During 2012, Onconova Europe GmbH was established as a wholly owned subsidiary of the Company for the purpose of further developing business in Europe.</font></p> <p style="MARGIN: 0in 0in 0pt;"> </p> <p style="MARGIN: 0in 0in 0pt;"><b><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold;" size="2">Liquidity</font></b></p> <p style="MARGIN: 0in 0in 0pt;"> </p> <p style="TEXT-INDENT: 26pt; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">The Company has incurred recurring operating losses since inception. For the six months ended June 30, 2013, the Company incurred a net loss of $27,407,000 and as of June 30, 2013, the Company had generated an accumulated deficit of $195,760,000. The Company anticipates operating losses to continue for the foreseeable future due to, among other things, costs related to research funding, development of its product candidates and its preclinical programs, strategic alliances and the development of its administrative organization.</font></p> <p style="MARGIN: 0in 0in 0pt;"> </p> <p style="TEXT-INDENT: 22pt; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">The Company has raised significant capital through the issuance of its redeemable convertible preferred stock, par value $0.01 per share, in ten series denominated as Series A through Series J (“Series A Preferred Stock” through “Series J Preferred Stock,” respectively, and collectively the “Preferred Stock”). See Note 6.</font></p> <p style="MARGIN: 0in 0in 0pt;"> </p> <p style="TEXT-INDENT: 24pt; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">On July 30, 2013, the Company completed its initial public offering (the “IPO”) of 5,941,667 shares of the Company’s common stock, par value $0.01 per share (“Common Stock”), at a price of $15.00 per share, including 775,000 shares of Common Stock issued upon the exercise in full by the underwriters of their option to purchase additional shares at the same price to cover over-allotments. The Company received net proceeds of $79,600,000 from the sale, net of underwriting discounts and commissions and other estimated offering expenses. I</font><font style="FONT-SIZE: 10pt;" size="2">mmediately prior to the consummation of the IPO, all outstanding shares of Preferred Stock automatically converted into shares of Common Stock at the applicable conversion ratio then in effect.  As a result of the conversion, as of July 30, 2013, the Company had no shares of Preferred Stock outstanding.</font></p> <p style="MARGIN: 0in 0in 0pt;"> </p> <p style="TEXT-INDENT: 26pt; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">The accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company’s ability to continue as a going concern is dependent on its ability to raise additional capital to fund its research and development and commercial programs and meet its obligations. Management intends to fund future operations through additional equity offerings, licensing revenue, grants, government contracts and, if any of the Company’s product candidates receive marketing approval, future sales of its products. There can be no assurance, however, that the Company will be successful in obtaining financing at the level needed to sustain operations or on terms acceptable to the Company, or that the Company will obtain approvals necessary to market its products or achieve profitability or sustainable, positive cash flow.</font></p> <p style="MARGIN: 0in 0in 0pt;"> </p> <p style="TEXT-INDENT: 25.9pt; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">The Company faces many risks associated with companies in the early stages. It also faces risks inherent in its business and its industry generally. These risks include, among others, the following:</font></p> <p style="MARGIN: 0in 0in 0pt;"> </p> <p style="MARGIN: 0in 0in 0pt 25.9pt;"><font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt;" size="2">·</font> <font style="FONT-SIZE: 10pt;" size="2">the Company’s success is primarily dependent on the regulatory approval and commercialization of rigosertib;</font></p> <p style="MARGIN: 0in 0in 0pt 0.25in;"> </p> <p style="MARGIN: 0in 0in 0pt 25.9pt;"><font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt;" size="2">·</font> <font style="FONT-SIZE: 10pt;" size="2">the Company is subject to regulatory approval processes that are lengthy, time consuming, expensive and unpredictable. The Company may not obtain approval on a timely basis or at all for any of its product candidates from the U.S. Food and Drug Administration or foreign regulatory authorities;</font></p> <p style="MARGIN: 0in 0in 0pt 0.25in;"> </p> <p style="MARGIN: 0in 0in 0pt 25.9pt;"><font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt;" size="2">·</font> <font style="FONT-SIZE: 10pt;" size="2">the Company has no significant source of product revenue, may never become profitable and may incur substantial and increasing net losses for the foreseeable future as it continues to develop and seek regulatory approvals for, and potentially begins to commercialize, its product candidates;</font></p> <p style="MARGIN: 0in 0in 0pt 0.25in;"> </p> <p style="MARGIN: 0in 0in 0pt 25.9pt;"><font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt;" size="2">·</font> <font style="FONT-SIZE: 10pt;" size="2">the Company may need to obtain additional funding to continue operations;</font></p> <p style="TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt;"> </p> <p style="MARGIN: 0in 0in 0pt 25.9pt;"><font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt;" size="2">·</font> <font style="FONT-SIZE: 10pt;" size="2">it is difficult and costly to protect the Company’s intellectual property rights;</font></p> <p style="TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt;"> </p> <p style="MARGIN: 0in 0in 0pt 25.9pt;"><font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt;" size="2">·</font> <font style="FONT-SIZE: 10pt;" size="2">the Company may be unable to recruit or retain key employees, including its senior management team; and</font></p> <p style="TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt;"> </p> <p style="MARGIN: 0in 0in 0pt 25.9pt;"><font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt;" size="2">·</font> <font style="FONT-SIZE: 10pt;" size="2">the Company depends on the performance of third parties, including contract research organizations and third-party manufacturers.</font></p> </div> | ||
CY2012Q4 | ontx |
Prepaid Research And Development Current
PrepaidResearchAndDevelopmentCurrent
|
1429000 | USD |
CY2012Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
296000 | USD |
CY2013Q2 | ontx |
Prepaid Research And Development Current
PrepaidResearchAndDevelopmentCurrent
|
2399000 | USD |
CY2013Q2 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
1183000 | USD |
us-gaap |
Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
|
0 | USD | |
CY2012 | us-gaap |
Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
|
0 | USD |
CY2012Q4 | ontx |
Number Of New Programs To Be Collaborated And Developed By Joint Venture
NumberOfNewProgramsToBeCollaboratedAndDevelopedByJointVenture
|
2 | item |
CY2013Q2 | ontx |
Number Of Group Companies Of Which Average Historical Share Price Trading Data Used For Estimation Of Volatility
NumberOfGroupCompaniesOfWhichAverageHistoricalSharePriceTradingDataUsedForEstimationOfVolatility
|
11 | item |
ontx |
Number Of Series Denominations Of Preferred Stock
NumberOfSeriesDenominationsOfPreferredStock
|
10 | item |