$VTVT
vTv Therapeutics Inc.

2017 Q3 Form 10-Q Financial Statement

#000156459017020807 Filed on November 01, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q4 2016 Q3
Revenue $15.00K $38.00K $38.00K
YoY Change -60.53% -83.19% -71.43%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.570M $2.250M $2.400M
YoY Change 7.08% -5.06% -0.83%
% of Gross Profit
Research & Development $8.989M $11.10M $11.17M
YoY Change -19.53% 24.02% 69.91%
% of Gross Profit
Depreciation & Amortization $50.00K $50.00K $70.00K
YoY Change -28.57% -64.29% -36.36%
% of Gross Profit
Operating Expenses $11.56M $13.35M $13.57M
YoY Change -14.84% 17.93% 41.74%
Operating Profit -$11.54M -$13.31M -$13.53M
YoY Change -14.69% 20.05% 43.29%
Interest Expense -$810.0K -$370.0K $20.00K
YoY Change -4150.0% -1950.0% 400.0%
% of Operating Profit
Other Income/Expense, Net $0.00 -$20.00K $2.000K
YoY Change -100.0% -300.0% -300.0%
Pretax Income -$12.36M -$13.71M -$13.51M
YoY Change -8.51% 23.96% 37.55%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$3.650M -$4.050M -$3.993M
YoY Change -8.59% 27.8% -2.68%
Net Earnings / Revenue -24333.33% -10657.89% -10507.89%
Basic Earnings Per Share
Diluted Earnings Per Share -$376.7K -$418.0K -$411.8K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3 2016 Q4 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.50M $51.50M $51.10M
YoY Change -59.88% -41.48% -47.32%
Cash & Equivalents $20.77M $51.51M $51.06M
Short-Term Investments
Other Short-Term Assets $1.000M $600.0K $1.100M
YoY Change -9.09% -45.45% 37.5%
Inventory
Prepaid Expenses
Receivables $0.00 $0.00 $0.00
Other Receivables $0.00 $0.00
Total Short-Term Assets $21.50M $52.12M $52.10M
YoY Change -58.73% -41.56% -46.73%
LONG-TERM ASSETS
Property, Plant & Equipment $300.0K $444.0K $500.0K
YoY Change -40.0% -28.85% -25.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.300M $1.934M $2.100M
YoY Change 9.52% 12.31% 25.82%
Total Long-Term Assets $2.600M $2.378M $2.600M
YoY Change 0.0% 1.36% 8.97%
TOTAL ASSETS
Total Short-Term Assets $21.50M $52.12M $52.10M
Total Long-Term Assets $2.600M $2.378M $2.600M
Total Assets $24.10M $54.50M $54.70M
YoY Change -55.94% -40.46% -45.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.10M $3.060M $10.60M
YoY Change -4.72% -6.19% 82.76%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.100M
YoY Change
Total Short-Term Liabilities $12.20M $11.43M $10.60M
YoY Change 15.09% 47.99% 74.46%
LONG-TERM LIABILITIES
Long-Term Debt $17.20M $11.10M $0.00
YoY Change
Other Long-Term Liabilities $300.0K $433.0K $200.0K
YoY Change 50.0% 76.73% 277.36%
Total Long-Term Liabilities $17.50M $433.0K $200.0K
YoY Change 8650.0% 76.73% 277.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.20M $11.43M $10.60M
Total Long-Term Liabilities $17.50M $433.0K $200.0K
Total Liabilities $160.4M $22.93M $166.0M
YoY Change -3.37% 187.61% 2608.44%
SHAREHOLDERS EQUITY
Retained Earnings -$215.5M
YoY Change 9.95%
Common Stock $124.2M
YoY Change 5.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$136.3M -$90.95M -$111.2M
YoY Change
Total Liabilities & Shareholders Equity $24.10M $54.50M $54.70M
YoY Change -55.94% -40.46% -45.41%

Cashflow Statement

Concept 2017 Q3 2016 Q4 2016 Q3
OPERATING ACTIVITIES
Net Income -$3.650M -$4.050M -$3.993M
YoY Change -8.59% 27.8% -2.68%
Depreciation, Depletion And Amortization $50.00K $50.00K $70.00K
YoY Change -28.57% -64.29% -36.36%
Cash From Operating Activities -$11.78M -$11.43M -$12.72M
YoY Change -7.39% 27.42% 29.4%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $30.00K $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $30.00K $0.00 $0.00
YoY Change -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 11.87M -60.00K
YoY Change -100.0% -100.06%
NET CHANGE
Cash From Operating Activities -11.78M -11.43M -12.72M
Cash From Investing Activities 30.00K 0.000 0.000
Cash From Financing Activities 0.000 11.87M -60.00K
Net Change In Cash -11.75M 440.0K -12.78M
YoY Change -8.06% -104.88% -113.51%
FREE CASH FLOW
Cash From Operating Activities -$11.78M -$11.43M -$12.72M
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$11.78M -$11.43M -$12.72M
YoY Change -7.39% 28.28% 29.53%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2017Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
281000
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1934000
CY2016Q4 us-gaap Assets
Assets
54495000
CY2016Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
11413000
CY2017Q3 us-gaap Notes Payable Current
NotesPayableCurrent
2083000
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
11434000
CY2016Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
11058000
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
433000
CY2016Q4 us-gaap Liabilities
Liabilities
22925000
CY2016Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2016Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
122515000
CY2016Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
124212000
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-215486000
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
-90945000
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
54495000
vtvt Research And Development Expense Related Party
ResearchAndDevelopmentExpenseRelatedParty
795000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7654000
CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2000
us-gaap Investment Income Interest
InvestmentIncomeInterest
66000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-36783000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
vtvt Increase Decrease In Accounts Payable And Accrued Liabilities Related Parties
IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesRelatedParties
-474000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-21000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-198000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
19000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
9000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-38510000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2657000
us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
167000
us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
-36349000
us-gaap Share Based Compensation
ShareBasedCompensation
1988000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
753000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-69000
us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
281000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
113000
us-gaap Increase Decrease In Due From Employee Current
IncreaseDecreaseInDueFromEmployeeCurrent
-46000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
317000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
268000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1293000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3417000
us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
32000
us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
4000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
39000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
87000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-7000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-83000
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
7500000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
50000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
29000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
7500000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-79000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-31017000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-36945000
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
88003000
CY2016Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
51058000
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
3164000
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On an ongoing basis, the Company evaluates its estimates, including those related to the grant date fair value of equity awards, the fair value of the Class B Common Stock, the useful lives of property and equipment, the fair value of derivative liabilities, and the fair value of the Company&#8217;s debt, among others. The Company bases its estimates on historical experience and on various other assumptions that it believes to be reasonable, the results of which form the basis for making judgments about the carrying value of assets and liabilities.</p></div>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Financial instruments that potentially expose the Company to concentrations of credit risk consist principally of cash on deposit with multiple financial institutions. The balances of these cash accounts frequently exceed insured limits.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">There were no accounts receivable balances outstanding as of September&#160;30, 2017 and December 31, 2016.&nbsp;&nbsp;</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">One and two customers represented 100% of the revenue earned during the three and nine months ended September&#160;30, 2017 and 2016, respectively. </p></div>
CY2017Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
0
CY2016Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1096101
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
872500
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
16202
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1952399
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
653756
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P8Y
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1862429
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P8Y7M7D
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.68
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.78
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
6.78
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.52
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
11.23
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
8.63
CY2017Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
959000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1988000
CY2016Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
12500000
CY2016Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
1442000
CY2016Q4 us-gaap Notes Payable
NotesPayable
11058000
CY2017Q3 vtvt Redeemable Noncontrolling Interest Temporary Equity Redemption Value
RedeemableNoncontrollingInterestTemporaryEquityRedemptionValue
130600000
CY2016Q4 vtvt Redeemable Noncontrolling Interest Temporary Equity Redemption Value
RedeemableNoncontrollingInterestTemporaryEquityRedemptionValue
122500000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25297231
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24218680

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0001564590-17-020807.txt Edgar Link pending
0001564590-17-020807-xbrl.zip Edgar Link pending
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vtvt-10q_20170930.htm Edgar Link pending
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vtvt-20170930_def.xml Edgar Link unprocessable
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vtvt-ex311_9.htm Edgar Link pending
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