$CPRX
Catalyst Pharmaceuticals Inc

2013 Q3 Form 10-Q Financial Statement

#000119312513334650 Filed on August 14, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2013 Q2 2012 Q4
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $440.0K $520.0K $760.0K
YoY Change -30.16% -1.89% -28.97%
% of Gross Profit
Research & Development $2.804M $2.132M $740.0K
YoY Change 328.25% 300.2% -22.92%
% of Gross Profit
Depreciation & Amortization $5.707K $5.706K $0.00
YoY Change 109.43% 110.55% -100.0%
% of Gross Profit
Operating Expenses $3.246M $2.654M $1.510M
YoY Change 152.84% 148.61% -25.62%
Operating Profit -$3.246M -$2.654M -$1.505M
YoY Change 152.84% 148.61%
Interest Expense -$2.680M -$500.0K $1.420M
YoY Change 100.0% -164.1% -543.75%
% of Operating Profit
Other Income/Expense, Net $10.00K $10.00K $10.00K
YoY Change
Pretax Income -$5.912M -$3.144M -$80.00K
YoY Change 125.52% 987.45% -96.6%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$5.912M -$3.144M -$76.59K
YoY Change 125.52% 987.45% -96.74%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$132.2K -$75.75K -$2.195K
COMMON SHARES
Basic Shares Outstanding 41.47M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q3 2013 Q2 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.70M $11.40M $15.40M
YoY Change 130.83% 52.0% 156.67%
Cash & Equivalents $12.96M $879.1K $1.410M
Short-Term Investments $14.70M $10.50M $14.00M
Other Short-Term Assets $1.000M $1.100M $1.300M
YoY Change 900.0% 450.0% 550.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $28.64M $12.48M $16.73M
YoY Change 136.69% 62.13% 169.79%
LONG-TERM ASSETS
Property, Plant & Equipment $46.33K $52.04K $53.68K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00 $0.00
YoY Change
Total Long-Term Assets $55.22K $60.93K $62.57K
YoY Change
TOTAL ASSETS
Total Short-Term Assets $28.64M $12.48M $16.73M
Total Long-Term Assets $55.22K $60.93K $62.57K
Total Assets $28.69M $12.55M $16.79M
YoY Change 137.15% 62.92% 170.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.473M $448.3K $1.366M
YoY Change 268.34% 124.14% 355.22%
Accrued Expenses $1.538M $1.189M $281.0K
YoY Change 284.58% 197.35% -53.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.012M $1.638M $1.647M
YoY Change 276.46% 133.95% 105.83%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.600M $1.043M $498.6K
YoY Change 80.0% 73.75% -70.67%
Total Long-Term Liabilities $3.600M $1.043M $498.6K
YoY Change 80.0% 73.75% -70.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.012M $1.638M $1.647M
Total Long-Term Liabilities $3.600M $1.043M $498.6K
Total Liabilities $6.576M $2.701M $2.167M
YoY Change 143.55% 107.76% -13.31%
SHAREHOLDERS EQUITY
Retained Earnings -$52.98M -$47.07M -$42.18M
YoY Change
Common Stock $53.99K $41.47K $41.42K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $22.12M $9.844M $14.62M
YoY Change
Total Liabilities & Shareholders Equity $28.69M $12.55M $16.79M
YoY Change 137.15% 62.92% 170.79%

Cashflow Statement

Concept 2013 Q3 2013 Q2 2012 Q4
OPERATING ACTIVITIES
Net Income -$5.912M -$3.144M -$76.59K
YoY Change 125.52% 987.45% -96.74%
Depreciation, Depletion And Amortization $5.707K $5.706K $0.00
YoY Change 109.43% 110.55% -100.0%
Cash From Operating Activities -$1.690M -$1.810M -$1.590M
YoY Change 53.64% 57.39% 10.42%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$40.00K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities -$4.200M $2.030M -$14.01M
YoY Change
Cash From Investing Activities -$4.200M $2.020M -$14.05M
YoY Change -20300.0% -799.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 17.97M 20.00K 5.080M
YoY Change 223.2% -99.49% 53.47%
NET CHANGE
Cash From Operating Activities -1.690M -1.810M -1.590M
Cash From Investing Activities -4.200M 2.020M -14.05M
Cash From Financing Activities 17.97M 20.00K 5.080M
Net Change In Cash 12.08M 230.0K -10.56M
YoY Change 170.85% -91.73% -372.16%
FREE CASH FLOW
Cash From Operating Activities -$1.690M -$1.810M -$1.590M
Capital Expenditures $0.00 $0.00 -$40.00K
Free Cash Flow -$1.690M -$1.810M -$1.550M
YoY Change 53.64% 58.77% 7.64%

Facts In Submission

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dei Entity Registrant Name
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CATALYST PHARMACEUTICAL PARTNERS, INC.
dei Amendment Flag
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dei Document Fiscal Year Focus
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dei Document Type
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dei Document Period End Date
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dei Entity Central Index Key
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<div> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2"><b>1.</b></font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Organization and Description of Business.</b></font></td> </tr> </table> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Catalyst Pharmaceutical Partners, Inc. (the Company) is a development-stage specialty pharmaceutical company focused on the development and commercialization of novel prescription drugs targeting rare (orphan) neuromuscular and neurological diseases, including Lambert-Eaton Myasthenic Syndrome (LEMS) and infantile spasms.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company has incurred operating losses in each period from inception through June&#xA0;30, 2013. The Company has been able to fund its cash needs to date through several public and private offerings of its common stock and warrants, through government grants, and through an investment by a strategic purchaser. See Note 9.</font></p> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Capital Resources</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">On December&#xA0;3, 2010, the Company filed a Shelf Registration Statement on Form S-3 (the 2010 Shelf Registration Statement) with the SEC to sell up to $30 million of common stock and common stock purchase warrants. This registration statement (file No.&#xA0;333-170945) was declared effective by the SEC on December&#xA0;15, 2010. The Company has conducted three registered direct offerings under the 2010 Shelf Registration Statement. See Note 9.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The number of shares that the Company can sell in the future and the amount of the gross proceeds that the Company can raise (in the aggregate) under the 2010 Shelf Registration Statement is limited to 20% of the number of shares of outstanding common stock and 33% of the Company&#x2019;s public float, respectively, pursuant to applicable NASDAQ marketplace and SEC rules.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">While there can be no assurance, based on currently available information, the Company estimates that it has sufficient working capital to support its operations through the end of the first quarter of 2014. The Company will require additional capital to support the Company&#x2019;s operations in periods after the first quarter of 2014.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company may raise required funds through public or private equity offerings, debt financings, corporate collaborations, governmental research grants or other means. The Company may also seek to raise new capital to fund additional product development efforts, even if it has sufficient funds for its planned operations. Any sale by the Company of additional equity or convertible debt securities could result in dilution to the Company&#x2019;s current stockholders. There can be no assurance that any such required additional funding will be available to the Company at all or available on terms acceptable to the Company. Further, to the extent that the Company raises additional funds through collaborative arrangements, it may be necessary to relinquish some rights to the Company&#x2019;s drug candidates or grant sublicenses on terms that are not favorable to the Company. If the Company is not able to secure additional funding when needed, the Company may have to delay, reduce the scope of, or eliminate one or more research and development programs, which could have an adverse effect on the Company&#x2019;s business.</font></p> </div>
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cprx Nasdaq Minimum Price Bid Requirement Grace Period
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cprx Last Date For Compliance Of Minimum Bid Price Requirement Including Grace Period
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cprx Maximum Amortization Period Of Compensation Cost On Straight Line Basis
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us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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ProceedsFromNotesPayable
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cprx Debt Conversion Common Stock Issued On Note Value
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CY2013Q2 us-gaap Income Tax Expense Benefit
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