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SEC Filings

S-1
VITAE PHARMACEUTICALS, INC filed this Form S-1 on 08/12/2014
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Table of Contents


Vitae Pharmaceuticals, Inc.

Notes to the Financial Statements (Continued)

For the Years Ended December 31, 2013 and 2012

3. Net Income Per Common Share

        The following table sets forth the computation of basic and diluted net income per common share for the periods indicated:

 
  Year Ended December 31,  
 
  2013   2012  

Net income

  $ 1,161,898   $ 223,086  

Less: Undistributed earnings allocated to participating securities

    (1,161,898 )   (223,086 )
           

Net income attributable to common stockholders—basic and diluted

         

Weighted average common shares—basic and diluted

    12,955,471     12,476,508  
           

  $ 0.00   $ 0.00  
           
           

        Diluted net income per share for the years presented do not reflect the following potential common shares, as the effect would be antidilutive:

 
  Year Ended December 31,  
 
  2013   2012  

Stock options

    29,716,795     43,877,959  

Restricted stock units

    9,000,000      

Warrants

    1,045,834     1,075,415  

Convertible preferred stock

    218,309,741     218,309,741  
           

Total

    258,072,370     263,263,115  
           
           

4. Property and Equipment

        Property and equipment and related accumulated depreciation and amortization are as follows:

 
  December 31,  
 
  2013   2012  

Laboratory equipment

  $ 3,085,736   $ 3,074,926  

Computer equipment and software

    1,452,580     1,424,722  

Office furniture and equipment

    311,564     311,564  

Leasehold improvements

    3,357,312     3,344,012  

Construction in process

    10,293     9,000  

Less accumulated depreciation and amortization

    (7,839,489 )   (7,761,514 )
           

Property and equipment, net

  $ 377,996   $ 402,710  
           
           

        Depreciation expense was $204,733 and $531,589 for the years ended December 31, 2013 and 2012, respectively.

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