$VTVT
vTv Therapeutics Inc.

2019 Q2 Form 10-Q Financial Statement

#000156459019027516 Filed on July 31, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2 2018 Q1
Revenue $1.828M $2.473M $2.064M
YoY Change -26.08% 18923.08% 6780.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.390M $2.740M $2.260M
YoY Change -12.77% -8.97% -19.86%
% of Gross Profit
Research & Development $4.228M $8.594M $8.940M
YoY Change -50.8% -10.69% -18.43%
% of Gross Profit
Depreciation & Amortization $10.00K $40.00K $42.00K
YoY Change -75.0% -20.0% -19.23%
% of Gross Profit
Operating Expenses $6.620M $11.33M $11.20M
YoY Change -41.58% -10.27% -18.75%
Operating Profit -$4.792M -$8.858M -$9.134M
YoY Change -45.9% -29.78% -33.59%
Interest Expense $514.0K $870.0K -$840.0K
YoY Change -40.92% 4.57% -250.27%
% of Operating Profit
Other Income/Expense, Net $1.000K $320.0K $10.00K
YoY Change -99.69%
Pretax Income -$5.014M -$9.396M -$9.960M
YoY Change -46.64% -29.95% -30.28%
Income Tax $100.0K $200.0K $0.00
% Of Pretax Income
Net Earnings -$2.882M -$3.072M -$2.952M
YoY Change -6.18% -22.48% -30.05%
Net Earnings / Revenue -157.66% -124.22% -143.02%
Basic Earnings Per Share
Diluted Earnings Per Share -$102.7K -$305.5K -$304.1K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.500M $1.200M $6.500M
YoY Change 25.0% -96.31% -85.62%
Cash & Equivalents $1.462M $1.163M $9.035M
Short-Term Investments
Other Short-Term Assets $500.0K $2.600M $2.800M
YoY Change -80.77% 333.33% 250.0%
Inventory
Prepaid Expenses
Receivables $1.822M $2.270M $200.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.796M $6.008M $9.500M
YoY Change -36.82% -81.88% -79.3%
LONG-TERM ASSETS
Property, Plant & Equipment $54.00K $200.0K $200.0K
YoY Change -73.0% -46.52% -50.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.500M $2.500M $2.500M
YoY Change 0.0%
Other Assets $2.600M $2.500M $2.500M
YoY Change 4.0% 10.96% 25.0%
Total Long-Term Assets $5.276M $5.192M $5.200M
YoY Change 1.62% 97.64% 116.67%
TOTAL ASSETS
Total Short-Term Assets $3.796M $6.008M $9.500M
Total Long-Term Assets $5.276M $5.192M $5.200M
Total Assets $9.072M $11.20M $14.70M
YoY Change -19.0% -68.7% -69.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.300M $13.10M $11.30M
YoY Change -36.64% 22.43% 1.8%
Accrued Expenses $200.0K
YoY Change
Deferred Revenue $27.00K $10.11M
YoY Change -99.73%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $8.600M $8.200M $6.800M
YoY Change 4.88% 1540.0%
Total Short-Term Liabilities $17.18M $31.50M $26.80M
YoY Change -45.47% 179.88% 141.44%
LONG-TERM LIABILITIES
Long-Term Debt $2.200M $10.90M $13.10M
YoY Change -79.82% -41.08% -30.32%
Other Long-Term Liabilities $260.0K $256.0K $3.200M
YoY Change 1.56% -6.23% 966.67%
Total Long-Term Liabilities $260.0K $256.0K $16.30M
YoY Change 1.56% -6.23% -14.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.18M $31.50M $26.80M
Total Long-Term Liabilities $260.0K $256.0K $16.30M
Total Liabilities $21.91M $43.41M $163.5M
YoY Change -49.52% 44.49% -4.83%
SHAREHOLDERS EQUITY
Retained Earnings -$217.6M -$206.5M
YoY Change 5.34% -11.29%
Common Stock $167.1M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$49.90M -$71.60M -$148.8M
YoY Change
Total Liabilities & Shareholders Equity $9.072M $11.23M $14.70M
YoY Change -19.19% -68.62% -69.57%

Cashflow Statement

Concept 2019 Q2 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income -$2.882M -$3.072M -$2.952M
YoY Change -6.18% -22.48% -30.05%
Depreciation, Depletion And Amortization $10.00K $40.00K $42.00K
YoY Change -75.0% -20.0% -19.23%
Cash From Operating Activities -$5.500M -$9.330M -$5.397M
YoY Change -41.05% -26.13% -60.95%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $10.00K
YoY Change
Cash From Investing Activities $0.00 $0.00 $12.00K
YoY Change -130.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.000M 3.960M 0.000
YoY Change -49.49% -100.0%
NET CHANGE
Cash From Operating Activities -5.500M -9.330M -5.397M
Cash From Investing Activities 0.000 0.000 12.00K
Cash From Financing Activities 2.000M 3.960M 0.000
Net Change In Cash -3.500M -5.370M -5.385M
YoY Change -34.82% -57.48% -15.33%
FREE CASH FLOW
Cash From Operating Activities -$5.500M -$9.330M -$5.397M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$9.330M -$5.397M
YoY Change -26.13% -61.06%

Facts In Submission

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us-gaap Allocated Share Based Compensation Expense
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1766000
CY2019Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
9897000
CY2018Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
14897000
CY2018Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
216000
CY2019Q2 vtvt Accreted Final Payment
AccretedFinalPayment
-934000
CY2018Q4 vtvt Accreted Final Payment
AccretedFinalPayment
-600000
CY2019Q2 us-gaap Notes Payable
NotesPayable
10831000
CY2018Q4 us-gaap Notes Payable
NotesPayable
15713000
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
100000
us-gaap Operating Lease Cost
OperatingLeaseCost
200000
CY2018Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
100000
us-gaap Operating Lease Cost
OperatingLeaseCost
200000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
200000
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
400000
CY2019Q2 vtvt Redeemable Noncontrolling Interest Temporary Equity Redemption Value
RedeemableNoncontrollingInterestTemporaryEquityRedemptionValue
37100000
CY2018Q4 vtvt Redeemable Noncontrolling Interest Temporary Equity Redemption Value
RedeemableNoncontrollingInterestTemporaryEquityRedemptionValue
62500000
CY2019Q2 us-gaap Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Purchase Of Interest By Parent
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesPurchaseOfInterestByParent
2464000
us-gaap Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Changes Purchase Of Interest By Parent
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangesPurchaseOfInterestByParent
4317000
us-gaap Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Change Due To Net Income Attributable To Parent And Effects Of Changes Net
ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestChangeDueToNetIncomeAttributableToParentAndEffectsOfChangesNet
-10341000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
vtvt Deemed Distribution To Related Party
DeemedDistributionToRelatedParty
3728000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
31173065
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
26574886
us-gaap Restructuring And Related Activities Initiation Date
RestructuringAndRelatedActivitiesInitiationDate
2018-12-11
us-gaap Severance Costs1
SeveranceCosts1
300000

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