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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.

Condensed Balance Sheets

 
  As of    
 
 
  June 30, 2014   December 31,
2013
  Pro Forma
June 30, 2014
 
 
  (unaudited)
   
  (unaudited)
 

Assets

                   

Current assets:

                   

Cash and cash equivalents

  $ 8,718,199   $ 21,155,247   $ 8,718,199  

Marketable securities, available-for-sale

    9,422,358     11,299,206     9,422,358  

Prepaid expenses and other current assets

    780,239     968,342     780,239  
               

Total current assets

    18,920,796     33,422,795     18,920,796  

Cash—restricted

    200,000     200,000     200,000  

Deferred offering costs

    1,009,505         1,009,505  

Property and equipment, net

    423,409     377,996     423,409  

Other assets

    8,296     26,963     8,296  
               

Total assets

  $ 20,562,006   $ 34,027,754   $ 20,562,006  
               
               

Liabilities, convertible preferred stock and stockholders' (deficit) equity

                   

Current liabilities:

                   

Notes payable—current portion

  $ 5,527,741   $ 5,281,502   $ 5,527,741  

Accounts payable

    996,945     458,511     996,945  

Accrued expenses

    2,307,764     1,700,719     2,307,764  

Interest payable

    56,986     76,687     56,986  

Deferred revenue

        2,000,000      
               

Total current liabilities

    8,889,436     9,517,419     8,889,436  

Deferred rent and lease incentives

    84,891     90,782     84,891  

Notes payable

    1,977,389     4,804,176     1,977,389  

Interest payable

    202,222     162,222     202,222  

Preferred stock warrant liability

    301,625     477,375     301,625  
               

Total liabilities

    11,455,563     15,051,974     11,455,563  
               

Commitments and contingencies

                   

Convertible preferred stock:

                   

Convertible Series A-1 preferred stock, $0.0001 par value, 675,000 shares authorized, issued and outstanding at June 30, 2014 and December 31, 2013, liquidation preference of $607,500 at June 30, 2014 and no shares issued and outstanding at June 30, 2014, pro forma

    675,000     675,000      

Convertible Series A-2 preferred stock, $0.0001 par value, 16,575,000 shares authorized at June 30, 2014, 16,500,000 shares issued and outstanding at June 30, 2014 and December 31, 2013, liquidation preference of $16,500,000 at June 30, 2014 and no shares issued and outstanding at June 30, 2014, pro forma

    16,379,250     16,379,250      

Convertible Series B preferred stock, $0.0001 par value, 151,812,780 shares authorized at June 30, 2014, 151,112,779 shares issued and outstanding at June 30, 2014 and December 31, 2013, liquidation preference of $64,222,931 at June 30, 2014 and no shares issued and outstanding at June 30, 2014, pro forma

    63,964,035     63,964,035      

Convertible Series C preferred stock, $0.0001 par value, 16,700,007 shares authorized, 16,666,673 shares issued and outstanding at June 30, 2014 and December 31, 2013, liquidation preference of $15,000,006 at June 30, 2014 and no shares issued and outstanding at June 30, 2014, pro forma

    14,936,553     14,936,553      

Convertible Series D preferred stock, $0.0001 par value, 26,012,500 shares authorized, 25,000,000 shares issued and outstanding at June 30, 2014 and December 31, 2013, liquidation preference of $30,000,000 at June 30, 2014 and no shares issued and outstanding at June 30, 2014, pro forma

    29,915,093     29,915,093      

Stockholders' (deficit) equity:

                   

Common stock, $0.0001 par value, 312,825,000 shares authorized at June 30, 2014 and December 31, 2013, 14,111,936 and 13,550,226 shares issued and 14,111,936 and 13,544,366 shares outstanding at June 30, 2014 and December 31, 2013, respectively, and 312,825,000 shares authorized and 232,421,677 issued and outstanding at June 30, 2014, pro forma

    1,411     1,355     23,242  

Additional paid in capital

    4,132,196     3,981,926     129,980,296  

Treasury stock

        (938 )    

Accumulated comprehensive (loss) income

    (545 )   67     (545 )

Accumulated deficit

    (120,896,550 )   (110,876,561 )   (120,896,550 )
               

Total stockholders' (deficit) equity

    (116,763,488 )   (106,894,151 )   9,106,443  
               

Total liabilities, convertible preferred stock and stockholders' (deficit) equity

  $ 20,562,006   $ 34,027,754   $ 20,562,006  
               
               

   

The accompanying notes are an integral part of these unaudited condensed financial statements.

F-33