$VTVT
vTv Therapeutics Inc.

2018 Q4 Form 10-K Financial Statement

#000156459019004516 Filed on February 26, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2018 2017 Q4
Revenue $4.522M $12.43M $233.0K
YoY Change 1840.77% 4172.85% 513.16%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.070M $9.220M $2.940M
YoY Change -29.59% -18.62% 30.67%
% of Gross Profit
Research & Development $2.800M $23.04M $10.07M
YoY Change -72.19% -41.89% -9.28%
% of Gross Profit
Depreciation & Amortization $110.0K $218.0K $50.00K
YoY Change 120.0% 10.66% 0.0%
% of Gross Profit
Operating Expenses $4.870M $32.26M $13.01M
YoY Change -62.57% -36.72% -2.55%
Operating Profit -$351.0K -$19.82M -$12.77M
YoY Change -97.25% -60.89% -4.06%
Interest Expense -$730.0K $3.290M -$830.0K
YoY Change -12.05% 6.4% 124.32%
% of Operating Profit
Other Income/Expense, Net -$1.250M $46.00K -$190.0K
YoY Change 557.89% -124.21% 850.0%
Pretax Income -$2.330M -$23.65M -$13.79M
YoY Change -83.1% -56.09% 0.58%
Income Tax $0.00 $200.0K -$5.050M
% Of Pretax Income
Net Earnings -$1.091M -$7.911M -$4.311M
YoY Change -74.69% -51.0% 6.44%
Net Earnings / Revenue -24.13% -63.62% -1850.21%
Basic Earnings Per Share
Diluted Earnings Per Share -$61.62K -$635.3K -$444.8K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.700M $1.680M $11.80M
YoY Change -85.59% -85.71% -77.09%
Cash & Equivalents $1.683M $1.680M $11.76M
Short-Term Investments
Other Short-Term Assets $1.800M $1.790M $600.0K
YoY Change 200.0% 198.33% 0.0%
Inventory
Prepaid Expenses
Receivables $0.00 $0.00 $8.000M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.473M $3.470M $20.36M
YoY Change -82.94% -82.96% -60.93%
LONG-TERM ASSETS
Property, Plant & Equipment $70.00K $70.00K $283.0K
YoY Change -75.27% -75.0% -36.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.500M $2.480M $2.500M
YoY Change 0.0% 0.0%
Other Assets $2.500M $2.540M $4.800M
YoY Change -47.92% -46.97% 148.19%
Total Long-Term Assets $5.086M $5.090M $7.555M
YoY Change -32.68% -32.67% 217.7%
TOTAL ASSETS
Total Short-Term Assets $3.473M $3.470M $20.36M
Total Long-Term Assets $5.086M $5.090M $7.555M
Total Assets $8.559M $8.560M $27.92M
YoY Change -69.34% -69.34% -48.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.899M $2.900M $2.269M
YoY Change 27.77% 27.75% -25.85%
Accrued Expenses $4.800M
YoY Change -58.73%
Deferred Revenue $1.752M $8.757M
YoY Change -79.99%
Short-Term Debt $216.0K $0.00 $0.00
YoY Change
Long-Term Debt Due $9.400M $9.380M $4.300M
YoY Change 118.6% 119.67%
Total Short-Term Liabilities $18.84M $18.84M $26.93M
YoY Change -30.05% -30.04% 135.52%
LONG-TERM LIABILITIES
Long-Term Debt $6.300M $6.330M $15.30M
YoY Change -58.82% -58.68% 37.84%
Other Long-Term Liabilities $260.0K $3.760M $290.0K
YoY Change -10.34% -28.79% -33.03%
Total Long-Term Liabilities $260.0K $10.09M $290.0K
YoY Change -10.34% -51.02% -33.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.84M $18.84M $26.93M
Total Long-Term Liabilities $260.0K $10.09M $290.0K
Total Liabilities $28.93M $91.41M $47.52M
YoY Change -39.13% -48.92% 107.3%
SHAREHOLDERS EQUITY
Retained Earnings -$233.9M -$279.1M
YoY Change -16.19% 29.5%
Common Stock $150.6M $127.7M
YoY Change 17.95% 2.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$82.85M -$82.85M -$151.0M
YoY Change
Total Liabilities & Shareholders Equity $8.559M $8.560M $27.92M
YoY Change -69.34% -69.34% -48.77%

Cashflow Statement

Concept 2018 Q4 2018 2017 Q4
OPERATING ACTIVITIES
Net Income -$1.091M -$7.911M -$4.311M
YoY Change -74.69% -51.0% 6.44%
Depreciation, Depletion And Amortization $110.0K $218.0K $50.00K
YoY Change 120.0% 10.66% 0.0%
Cash From Operating Activities -$5.870M -$26.86M -$6.330M
YoY Change -7.27% -39.73% -44.62%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $5.000K -$20.00K
YoY Change -100.0% -91.23%
Acquisitions
YoY Change
Other Investing Activities $0.00 $10.00K $0.00
YoY Change -66.67%
Cash From Investing Activities $0.00 $7.000K -$20.00K
YoY Change -100.0% -128.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $21.50M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.780M 16.61M 0.000
YoY Change 121.49% -100.0%
NET CHANGE
Cash From Operating Activities -5.870M -26.86M -6.330M
Cash From Investing Activities 0.000 7.000K -20.00K
Cash From Financing Activities 3.780M 16.61M 0.000
Net Change In Cash -2.090M -10.24M -6.350M
YoY Change -67.09% -72.4% -1543.18%
FREE CASH FLOW
Cash From Operating Activities -$5.870M -$26.86M -$6.330M
Capital Expenditures $0.00 $5.000K -$20.00K
Free Cash Flow -$5.870M -$26.86M -$6.310M
YoY Change -6.97% -39.8% -44.79%

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<p style="margin-top:6pt;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;text-indent:4.46%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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:6pt;margin-bottom:0pt;text-indent:4.46%;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 warrants to purchase shares of its Class A Common Stock, the fair value of its Class B Common Stock, the useful lives of property and equipment 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>
CY2018 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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;">Reclassifications</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.46%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">To facilitate comparison of information across periods, certain reclassifications have been made to prior period amounts to conform to the current period&#8217;s presentation.</p>
CY2018 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<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;text-indent:4.46%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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:6pt;margin-bottom:0pt;text-indent:4.46%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Accounts receivable as of December 31, 2017, consisted entirely of the upfront payment due in connection with the <font style="color:#000000;">License Agreement with Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd. (&#8220;Huadong&#8221;) (the &#8220;Huadong License Agreement&#8221;) which was fully received in January 2018</font>.&nbsp;&nbsp;There were no accounts receivable at December 31, 2018 and 2016.</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.46%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Three customers represented 100% of the revenue earned during the year ended December 31, 2018.&nbsp;&nbsp;Four customers represented 100% of the revenue earned during the year ended December 31, 2017.&nbsp;&nbsp;Two customers represented 100% of the revenue earned during the year ended December 31, 2016. </p>
CY2018Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
0
CY2018Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
0
CY2018Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
8500000
CY2016Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
0
CY2017Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
0
CY2018 us-gaap Asset Impairment Charges
AssetImpairmentCharges
100000
CY2017 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2016 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2018 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
CY2018 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2819000
CY2017Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
13254000
CY2018 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
10434000
CY2017 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
21000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P3Y
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P3Y
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2018 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2676000
CY2017 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3645000
CY2018 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
CY2017 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2018Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
216000
CY2017Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
20000000
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1960732
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
102750
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
295979
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1767503
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1180735
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y1M6D
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1737666
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P7Y6M
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.50
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.25
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
6.27
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.57
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
10.12
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
8.62
CY2018Q4 us-gaap Prepaid Insurance
PrepaidInsurance
571000
CY2017Q4 us-gaap Prepaid Insurance
PrepaidInsurance
251000
CY2018Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
95000
CY2017Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
191000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8501000
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9399000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8431000
CY2017Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9116000
CY2018Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
2899000
CY2017Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
2269000
CY2018Q4 vtvt Accrued Development Costs Current
AccruedDevelopmentCostsCurrent
3835000
CY2017Q4 vtvt Accrued Development Costs Current
AccruedDevelopmentCostsCurrent
8586000
CY2018Q4 vtvt Accrued Compensation And Related Costs
AccruedCompensationAndRelatedCosts
826000
CY2017Q4 vtvt Accrued Compensation And Related Costs
AccruedCompensationAndRelatedCosts
1990000
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
142000
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1056000
CY2018Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
14897000
CY2018Q4 vtvt Accreted Final Payment And Debt Instrument Unamortized Debt Discount
AccretedFinalPaymentAndDebtInstrumentUnamortizedDebtDiscount
-600000
CY2017Q4 vtvt Accreted Final Payment And Debt Instrument Unamortized Debt Discount
AccretedFinalPaymentAndDebtInstrumentUnamortizedDebtDiscount
413000
CY2018Q4 us-gaap Notes Payable
NotesPayable
15713000
CY2017Q4 us-gaap Notes Payable
NotesPayable
19587000
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
9383000
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
5730000
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
15113000
CY2018 us-gaap Description Of Lessee Leasing Arrangements Operating Leases
DescriptionOfLesseeLeasingArrangementsOperatingLeases
operating leases expiring at various dates through 2019
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
366000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
366000
CY2017Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
200000
CY2015Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000
CY2015Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018 us-gaap Common Stock Voting Rights
CommonStockVotingRights
Holders of Class A Common Stock and Class B Common Stock will be entitled to one vote for each share held on all matters submitted to stockholders for their vote or approval.
CY2018 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
600000
CY2017 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
200000
CY2018Q4 vtvt Redeemable Noncontrolling Interest Temporary Equity Redemption Value
RedeemableNoncontrollingInterestTemporaryEquityRedemptionValue
62500000
CY2017Q4 vtvt Redeemable Noncontrolling Interest Temporary Equity Redemption Value
RedeemableNoncontrollingInterestTemporaryEquityRedemptionValue
131400000
CY2018 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.50
CY2018 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.06
CY2018 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
200000
CY2017 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
100000
CY2016 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
200000
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
5847000
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-4966000
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-18846000
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-19374000
CY2018 vtvt Income Tax Reconciliation Partnership Income Federal Not Subject To Tax
IncomeTaxReconciliationPartnershipIncomeFederalNotSubjectToTax
3346000
CY2017 vtvt Income Tax Reconciliation Partnership Income Federal Not Subject To Tax
IncomeTaxReconciliationPartnershipIncomeFederalNotSubjectToTax
13475000
CY2016 vtvt Income Tax Reconciliation Partnership Income Federal Not Subject To Tax
IncomeTaxReconciliationPartnershipIncomeFederalNotSubjectToTax
13651000
CY2018 vtvt Income Tax Reconciliation Foreign Withholding Tax
IncomeTaxReconciliationForeignWithholdingTax
200000
CY2017 vtvt Income Tax Reconciliation Foreign Withholding Tax
IncomeTaxReconciliationForeignWithholdingTax
800000
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-224000
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
55000
CY2018 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
1122000000
CY2018 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-168000000
CY2018 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
3134000
CY2017 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-531000
CY2016 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
5723000
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.008
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.015
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2018Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
12749000
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
9023000
CY2017Q4 us-gaap Deferred Tax Assets Investments
DeferredTaxAssetsInvestments
470000
CY2018Q4 us-gaap Deferred Tax Liabilities Investments
DeferredTaxLiabilitiesInvestments
122000
CY2018Q4 us-gaap Deferred Tax Assets Charitable Contribution Carryforwards
DeferredTaxAssetsCharitableContributionCarryforwards
11000
CY2017Q4 us-gaap Deferred Tax Assets Charitable Contribution Carryforwards
DeferredTaxAssetsCharitableContributionCarryforwards
11000
CY2018Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
12638000
CY2017Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
9504000
CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
12638000
CY2017Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
9504000
CY2018 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
3100000
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2018Q4 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
0
CY2018 us-gaap Restructuring And Related Activities Initiation Date
RestructuringAndRelatedActivitiesInitiationDate
2018-12-11
CY2018 vtvt Accrual And Related Expense Related To Severance Benefits
AccrualAndRelatedExpenseRelatedToSeveranceBenefits
300000
CY2018Q4 vtvt Accrual And Related Expense Related To Severance Benefits
AccrualAndRelatedExpenseRelatedToSeveranceBenefits
300000
CY2018 vtvt Deemed Distribution To Related Party
DeemedDistributionToRelatedParty
739000
CY2018 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
30752664
CY2017 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
27786936
CY2016 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24367927
CY2018Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2064000
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2473000
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3375000
CY2018Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4522000
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-9134000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-8858000
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-1481000
CY2018Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-351000
CY2018Q1 us-gaap Profit Loss
ProfitLoss
-9960000
CY2018Q3 us-gaap Profit Loss
ProfitLoss
-1961000
CY2018Q2 us-gaap Profit Loss
ProfitLoss
-9596000
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-12615000
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-11541000
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-12772000
CY2017Q1 us-gaap Profit Loss
ProfitLoss
-14286000
CY2017Q2 us-gaap Profit Loss
ProfitLoss
-13414000
CY2017Q3 us-gaap Profit Loss
ProfitLoss
-12355000
CY2017Q4 us-gaap Profit Loss
ProfitLoss
-14592000
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
-4220000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
-3963000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
-3650000
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
-4311000
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4220000
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3963000
CY2018Q4 us-gaap Profit Loss
ProfitLoss
-2328000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-2952000
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3650000
CY2017Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4311000
CY2018 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0
CY2017 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0
CY2016 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
0
CY2018Q4 us-gaap Fair Value Equity Level1 To Level2 Transfers Amount
FairValueEquityLevel1ToLevel2TransfersAmount
0
CY2017Q4 us-gaap Fair Value Equity Level1 To Level2 Transfers Amount
FairValueEquityLevel1ToLevel2TransfersAmount
0
CY2016Q4 us-gaap Fair Value Equity Level1 To Level2 Transfers Amount
FairValueEquityLevel1ToLevel2TransfersAmount
0
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-3072000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
-796000
CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
-1091000
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2952000
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3072000
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-796000
CY2018Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1830000
CY2017Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
30000
CY2017Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
13000
CY2017Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
15000
CY2017Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
233000
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-13754000

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