$VCNX
Vaccinex Inc

2019 Form 10-K Financial Statement

#000156459020009251 Filed on March 09, 2020

View on sec.gov

Income Statement

Concept 2019 2018 2017
Revenue $523.0K $724.0K $90.00K
YoY Change -27.76% 704.44% -71.88%
Cost Of Revenue $200.0K $1.033M $160.0K
YoY Change -80.64% 545.63% 33.33%
Gross Profit $320.0K -$309.0K -$70.00K
YoY Change -203.56% 341.43% -135.0%
Gross Profit Margin 61.19% -42.68% -77.78%
Selling, General & Admin $6.670M $4.620M $4.480M
YoY Change 44.37% 3.13% 1.13%
% of Gross Profit 2084.38%
Research & Development $25.67M $22.35M $16.55M
YoY Change 14.84% 35.06% 3.25%
% of Gross Profit 8021.88%
Depreciation & Amortization $249.0K $223.0K $206.0K
YoY Change 11.66% 8.25% 14.44%
% of Gross Profit 77.81%
Operating Expenses $32.34M $22.35M $16.55M
YoY Change 44.68% 35.06% -19.11%
Operating Profit -$32.02M -$22.66M -$16.62M
YoY Change 41.29% 36.35% -17.96%
Interest Expense $0.00 $392.0K $1.358M
YoY Change -100.0% -71.13% -78.51%
% of Operating Profit
Other Income/Expense, Net $152.0K $165.0K -$40.00K
YoY Change -7.88% -512.5%
Pretax Income -$31.86M -$29.52M -$18.76M
YoY Change 7.94% 57.35% 34.58%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$31.86M -$29.52M -$18.72M
YoY Change 7.94% 57.66% 34.3%
Net Earnings / Revenue -6092.35% -4077.07% -20802.22%
Basic Earnings Per Share
Diluted Earnings Per Share -$2.474M -$2.571M -$1.632M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 2018 2017
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.780M $19.72M $4.180M
YoY Change -85.9% 371.77% 151.81%
Cash & Equivalents $2.780M $5.620M $4.180M
Short-Term Investments $0.00 $14.11M
Other Short-Term Assets $340.0K $1.060M $680.0K
YoY Change -67.92% 55.88% 94.29%
Inventory
Prepaid Expenses
Receivables $900.0K $640.0K $120.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.010M $21.42M $4.970M
YoY Change -81.28% 330.99% 135.55%
LONG-TERM ASSETS
Property, Plant & Equipment $590.0K $600.0K $600.0K
YoY Change -1.67% 0.0% -17.81%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $590.0K $610.0K $610.0K
YoY Change -3.28% 0.0% -16.44%
TOTAL ASSETS
Total Short-Term Assets $4.010M $21.42M $4.970M
Total Long-Term Assets $590.0K $610.0K $610.0K
Total Assets $4.600M $22.03M $5.580M
YoY Change -79.12% 294.8% 96.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.210M $2.320M $1.910M
YoY Change 38.36% 21.47% -22.36%
Accrued Expenses $3.670M $4.360M $1.960M
YoY Change -15.83% 122.45% -1.01%
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 $6.880M $6.690M $4.170M
YoY Change 2.84% 60.43% -6.08%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $2.810M
YoY Change -100.0% 170.19%
Other Long-Term Liabilities $0.00 $370.0K
YoY Change -100.0% -46.38%
Total Long-Term Liabilities $0.00 $0.00 $3.180M
YoY Change -100.0% 83.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.880M $6.690M $4.170M
Total Long-Term Liabilities $0.00 $0.00 $3.180M
Total Liabilities $30.84M $30.65M $19.31M
YoY Change 0.62% 58.73% 212.97%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$26.24M -$8.620M -$13.74M
YoY Change
Total Liabilities & Shareholders Equity $4.600M $22.03M $5.580M
YoY Change -79.12% 294.8% 96.48%

Cashflow Statement

Concept 2019 2018 2017
OPERATING ACTIVITIES
Net Income -$31.86M -$29.52M -$18.72M
YoY Change 7.94% 57.66% 34.3%
Depreciation, Depletion And Amortization $249.0K $223.0K $206.0K
YoY Change 11.66% 8.25% 14.44%
Cash From Operating Activities -$30.72M -$25.28M -$21.39M
YoY Change 21.52% 18.18% 8.45%
INVESTING ACTIVITIES
Capital Expenditures $78.00K $235.0K $68.00K
YoY Change -66.81% 245.59% -108.61%
Acquisitions
YoY Change
Other Investing Activities $14.15M -$14.01M
YoY Change -201.0%
Cash From Investing Activities $14.07M -$14.24M -$68.00K
YoY Change -198.82% 20842.65% -91.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 13.80M 40.96M 23.97M
YoY Change -66.3% 70.83% 46.54%
NET CHANGE
Cash From Operating Activities -30.72M -25.28M -21.39M
Cash From Investing Activities 14.07M -14.24M -68.00K
Cash From Financing Activities 13.80M 40.96M 23.97M
Net Change In Cash -2.842M 1.438M 2.519M
YoY Change -297.64% -42.91% -160.7%
FREE CASH FLOW
Cash From Operating Activities -$30.72M -$25.28M -$21.39M
Capital Expenditures $78.00K $235.0K $68.00K
Free Cash Flow -$30.79M -$25.51M -$21.46M
YoY Change 20.7% 18.9% 13.34%

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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y4M24D
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
120000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
11000
CY2019 vcnx Share Based Compensation Arrangement By Share Based Payment Award Options Maximum Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsMaximumContractualTerm
P10Y
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
447000
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.051
CY2018 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.052
CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.109
CY2018 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.103
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
0.001
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
-0.004
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.371
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.361
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
60467000
CY2018Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
52362000
CY2019Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
18161000
CY2018Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
14592000
CY2019Q4 vcnx Deferred Tax Assets Depreciation And Amortization
DeferredTaxAssetsDepreciationAndAmortization
439000
CY2018Q4 vcnx Deferred Tax Assets Depreciation And Amortization
DeferredTaxAssetsDepreciationAndAmortization
468000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReserves
168000
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReserves
56000
CY2019Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
274000
CY2018Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
202000
CY2019Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
79509000
CY2018Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
67680000
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
79509000
CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
67680000
CY2019Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2018Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2019 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
11800000
CY2018 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
10700000
CY2019 us-gaap Tax Credit Carryforward Expiration Date
TaxCreditCarryforwardExpirationDate
2021-12-31
CY2019Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
0
CY2018Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
0
CY2019 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
from January 1, 2016 to December 31, 2019
CY2019 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
1.00
CY2018 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
1.00
CY2019 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
168000
CY2018 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
168000

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