$ZVRA
ZEVRA THERAPEUTICS, INC.

2017 Q3 Form 10-Q Financial Statement

#000143774917018929 Filed on November 09, 2017

View on sec.gov

Income Statement

Concept 2017 Q3
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.320M
YoY Change -33.73%
% of Gross Profit
Research & Development $6.293M
YoY Change 46.79%
% of Gross Profit
Depreciation & Amortization $90.00K
YoY Change 125.0%
% of Gross Profit
Operating Expenses $9.612M
YoY Change -7.59%
Operating Profit -$9.612M
YoY Change -7.59%
Interest Expense $1.448M
YoY Change 0.49%
% of Operating Profit
Other Income/Expense, Net -$373.0K
YoY Change -87.7%
Pretax Income -$9.985M
YoY Change -25.67%
Income Tax -$4.000K
% Of Pretax Income
Net Earnings -$9.981M
YoY Change -25.59%
Net Earnings / Revenue
Basic Earnings Per Share -$0.68
Diluted Earnings Per Share -$0.68
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $45.20M
YoY Change -28.82%
Cash & Equivalents $7.829M
Short-Term Investments $37.40M
Other Short-Term Assets $2.500M
YoY Change 47.06%
Inventory
Prepaid Expenses
Receivables $2.503M
Other Receivables $0.00
Total Short-Term Assets $50.20M
YoY Change -23.08%
LONG-TERM ASSETS
Property, Plant & Equipment $2.086M
YoY Change 43.27%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $6.700M
YoY Change -75.55%
Other Assets $313.0K
YoY Change -33.69%
Total Long-Term Assets $9.116M
YoY Change -68.87%
TOTAL ASSETS
Total Short-Term Assets $50.20M
Total Long-Term Assets $9.116M
Total Assets $59.31M
YoY Change -37.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.400M
YoY Change 14.29%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $200.0K
YoY Change 100.0%
Total Short-Term Liabilities $6.647M
YoY Change 16.53%
LONG-TERM LIABILITIES
Long-Term Debt $92.30M
YoY Change 1.65%
Other Long-Term Liabilities $1.427M
YoY Change 173.9%
Total Long-Term Liabilities $1.427M
YoY Change 173.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.647M
Total Long-Term Liabilities $1.427M
Total Liabilities $107.4M
YoY Change 2.94%
SHAREHOLDERS EQUITY
Retained Earnings -$154.2M
YoY Change 38.38%
Common Stock $106.1M
YoY Change 4.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$48.10M
YoY Change
Total Liabilities & Shareholders Equity $59.31M
YoY Change -37.26%

Cashflow Statement

Concept 2017 Q3
OPERATING ACTIVITIES
Net Income -$9.981M
YoY Change -25.59%
Depreciation, Depletion And Amortization $90.00K
YoY Change 125.0%
Cash From Operating Activities -$10.17M
YoY Change 22.97%
INVESTING ACTIVITIES
Capital Expenditures -$40.00K
YoY Change -87.88%
Acquisitions
YoY Change
Other Investing Activities $5.690M
YoY Change 44.05%
Cash From Investing Activities $5.660M
YoY Change 56.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -50.00K
YoY Change -97.5%
NET CHANGE
Cash From Operating Activities -10.17M
Cash From Investing Activities 5.660M
Cash From Financing Activities -50.00K
Net Change In Cash -4.560M
YoY Change -31.53%
FREE CASH FLOW
Cash From Operating Activities -$10.17M
Capital Expenditures -$40.00K
Free Cash Flow -$10.13M
YoY Change 27.58%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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kmph Gain Loss On Subleases
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kmph Trade Receivables
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kmph Trade Receivables
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us-gaap Prior Period Reclassification Adjustment Description
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic;">Reclassifications</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">During the&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">second</div> quarter of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div><div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;the Company early&nbsp;adopted Accounting Standards Update (&#x201c;ASU&#x201d;) <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,</div> </div><div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic;">Statement of Cash Flows (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">230</div>): Restricted Cash</div> (&quot;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18&quot;</div>), which </div>addresses the treatment of restricted cash and restricted cash equivalents in the statement of cash flows<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">. The adoption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div> reduced the Company&#x2019;s net cash used in investing activities and net decrease in cash and cash equivalents on the&nbsp;condensed statements of&nbsp;cash flows&nbsp;by <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1.1</div></div> million for the&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months ended&nbsp;<div style="display: inline; font-style: italic; font-style: normal; font-weight: inherit;"> September 30, 2016, </div>as compared to the net cash used in investing activities and net decrease in cash and cash equivalents on the condensed statements of cash flows if the Company had <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> early adopted ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.</div> This reclassification had <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> effect on the condensed balance sheets&nbsp;or statements of operations. </div></div></div></div></div>
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ResearchAndDevelopmentExpense
6293000
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4287000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15057000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12509000
CY2017Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
1100000
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
1100000
CY2016 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
3
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-154160000
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-121340000
CY2017Q3 us-gaap Sales Revenue Net
SalesRevenueNet
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
CY2017Q3 us-gaap Severance Costs1
SeveranceCosts1
CY2016Q3 us-gaap Severance Costs1
SeveranceCosts1
3010000
us-gaap Severance Costs1
SeveranceCosts1
us-gaap Severance Costs1
SeveranceCosts1
3010000
us-gaap Share Based Compensation
ShareBasedCompensation
3412000
us-gaap Share Based Compensation
ShareBasedCompensation
5558000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
9750
CY2016Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
14933
CY2017Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
9750
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
14933
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
-48100000
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
-18696000
us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic;"><div style="display: inline; font-weight: bold;">Use of Estimates</div></div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">The preparation of financial statements in conformity with GAAP<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;requires the Company to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.</div></div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</div> <div style=" margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">On an ongoing basis, the Company evaluates its estimates, including those rel<div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">ated to the useful lives of property and equipment, and assumptions used for purposes of determining stock-based compensation, income taxes, and the fair value of the derivative and warrant liability, 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.</div></div></div></div>
CY2017Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
14657430
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
14646982
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
14651371
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
14580289
CY2017Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7829000
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
16762000
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17862000
CY2015Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32318000
CY2017Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8929000
CY2016Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21946000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-8933000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-10372000
CY2017Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
14657430
CY2017Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2016Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2017Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
12619031
CY2016Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
12114618
CY2017Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2015Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2017Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000
CY2016Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000
CY2015Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000
CY2015Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000
CY2016Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
14646982
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
251000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
97000
CY2017Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
14657430
CY2016Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
14646982
CY2017Q3 us-gaap Common Stock Value
CommonStockValue
1000
CY2016Q4 us-gaap Common Stock Value
CommonStockValue
1000
CY2017Q3 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
92341000
CY2016Q4 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
91170000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
2381000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-29742000
CY2017Q3 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-1312000
CY2016Q3 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
1299000
CY2017Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.68
CY2016Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.92
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.24
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.45

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