$HRTX
Heron Therapeutics Inc

2015 Q3 Form 10-Q Financial Statement

#000119312515370016 Filed on November 06, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.250M $4.220M
YoY Change 95.5% -34.57%
% of Gross Profit
Research & Development $14.24M $14.73M
YoY Change -3.33% 136.83%
% of Gross Profit
Depreciation & Amortization $180.0K $150.0K
YoY Change 20.0% 66.67%
% of Gross Profit
Operating Expenses $22.49M $18.95M
YoY Change 18.67% 49.71%
Operating Profit -$22.49M -$18.95M
YoY Change 18.67%
Interest Expense $242.0K $224.0K
YoY Change 8.04% -206.67%
% of Operating Profit
Other Income/Expense, Net -$17.00K
YoY Change
Pretax Income -$22.67M -$19.19M
YoY Change 18.13% 49.11%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$22.67M -$19.19M
YoY Change 18.12% 49.14%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$633.8K -$661.7K
COMMON SHARES
Basic Shares Outstanding 35.69M
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $153.0M $86.20M
YoY Change 77.49% 281.42%
Cash & Equivalents $153.0M $86.21M
Short-Term Investments
Other Short-Term Assets $2.000M $3.000M
YoY Change -33.33% 275.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $155.0M $89.20M
YoY Change 73.76% 281.2%
LONG-TERM ASSETS
Property, Plant & Equipment $2.982M $2.900M
YoY Change 2.83% 0.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $174.0K $100.0K
YoY Change 74.0% -50.0%
Total Long-Term Assets $3.156M $3.100M
YoY Change 1.81% 3.33%
TOTAL ASSETS
Total Short-Term Assets $155.0M $89.20M
Total Long-Term Assets $3.156M $3.100M
Total Assets $158.2M $92.30M
YoY Change 71.34% 249.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.735M $1.500M
YoY Change 82.33% -34.78%
Accrued Expenses $11.70M $8.300M
YoY Change 40.96% 245.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.100M $1.500M
YoY Change 40.0% 66.67%
Total Short-Term Liabilities $16.45M $11.30M
YoY Change 45.58% 105.45%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $16.45M $11.30M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $16.50M $11.30M
YoY Change 46.02% 105.45%
SHAREHOLDERS EQUITY
Retained Earnings -$381.6M
YoY Change
Common Stock $359.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $141.7M $81.00M
YoY Change
Total Liabilities & Shareholders Equity $158.2M $92.30M
YoY Change 71.34% 249.62%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income -$22.67M -$19.19M
YoY Change 18.12% 49.14%
Depreciation, Depletion And Amortization $180.0K $150.0K
YoY Change 20.0% 66.67%
Cash From Operating Activities -$19.89M -$19.24M
YoY Change 3.38% 55.66%
INVESTING ACTIVITIES
Capital Expenditures -$250.0K -$80.00K
YoY Change 212.5% -91.84%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$250.0K -$80.00K
YoY Change 212.5% -91.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.600M 520.0K
YoY Change 207.69% -51.85%
NET CHANGE
Cash From Operating Activities -19.89M -19.24M
Cash From Investing Activities -250.0K -80.00K
Cash From Financing Activities 1.600M 520.0K
Net Change In Cash -18.54M -18.80M
YoY Change -1.38% 53.34%
FREE CASH FLOW
Cash From Operating Activities -$19.89M -$19.24M
Capital Expenditures -$250.0K -$80.00K
Free Cash Flow -$19.64M -$19.16M
YoY Change 2.51% 68.37%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2014Q4 hrtx Accrued Clinical Liabilities
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CY2011Q2 hrtx Convertible Debt Issuable In Connection With Private Placement
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CY2015Q3 hrtx Convertible Notes Payable Related Parties Current
ConvertibleNotesPayableRelatedPartiesCurrent
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CY2014Q4 hrtx Convertible Notes Payable Related Parties Current
ConvertibleNotesPayableRelatedPartiesCurrent
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hrtx Debt Instrument Increase Decrease In Unamortized Discount
DebtInstrumentIncreaseDecreaseInUnamortizedDiscount
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CY2015Q3 hrtx Impact On Basic And Diluted Net Loss Per Common Share In Dollars Per Share
ImpactOnBasicAndDilutedNetLossPerCommonShareInDollarsPerShare
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CY2014Q3 hrtx Impact On Basic And Diluted Net Loss Per Common Share In Dollars Per Share
ImpactOnBasicAndDilutedNetLossPerCommonShareInDollarsPerShare
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hrtx Impact On Basic And Diluted Net Loss Per Common Share In Dollars Per Share
ImpactOnBasicAndDilutedNetLossPerCommonShareInDollarsPerShare
0.27
hrtx Impact On Basic And Diluted Net Loss Per Common Share In Dollars Per Share
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hrtx Increase Decrease In Clinical Liabilities
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hrtx Increase Decrease In Clinical Liabilities
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hrtx Stock Issued During Period Shares Stock Options Exercised Net
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hrtx Stock Issued During Period Shares Stock Options Exercised Net
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Amortization Of Debt Discount Premium
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us-gaap Amortization Of Debt Discount Premium
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us-gaap Basis Of Accounting
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">2</div><div style="display: inline; font-weight: bold;">.&nbsp;&nbsp;&nbsp;&nbsp;B</div><div style="display: inline; font-weight: bold;">asis of Presentation</div></div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (&#x201c;GAAP&#x201d;) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and disclosures required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2015 are not necessarily indicative of the results that may be expected for other quarters or the year ending December&nbsp;31, 2015. The condensed balance sheet at December 31, 2014 has been derived from the audited financial statements as of that date, but does not include all of the information and disclosures required by GAAP. For more complete financial information, these unaudited condensed consolidated financial statements and the notes thereto should be read in conjunction with the audited financial statements included in our Annual Report on Form</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;10-K for the fiscal year ended December&nbsp;31, 2014 filed with the Securities and Exchange Commission (the &#x201c;SEC&#x201d;) on March&nbsp;13,&nbsp;2015</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">. </div></div></div>
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CommonStockValue
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CY2014Q4 us-gaap Common Stock Value
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us-gaap Depreciation And Amortization
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us-gaap Depreciation And Amortization
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CY2015Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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CY2014Q3 us-gaap Earnings Per Share Basic And Diluted
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us-gaap Earnings Per Share Basic And Diluted
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us-gaap Earnings Per Share Basic And Diluted
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CY2014Q4 us-gaap Employee Related Liabilities Current
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CY2015Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
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us-gaap Gain Loss On Sale Of Property Plant Equipment
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CY2014Q3 us-gaap General And Administrative Expense
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us-gaap General And Administrative Expense
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us-gaap General And Administrative Expense
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
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us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
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us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
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us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2015Q3 us-gaap Interest Expense Debt Excluding Amortization
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us-gaap Interest Expense Debt Excluding Amortization
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us-gaap Interest Expense Debt Excluding Amortization
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us-gaap Net Income Loss
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us-gaap Operating Expenses
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us-gaap Share Based Compensation
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CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Use Of Estimates
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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=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Use of Estimates</div></div></div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and disclosures made in the accompanying notes to the financial statements. Our critical accounting policies that involve significant judgment and estimates include accrued clinical liabilities, income taxes and stock-based compensation. Actual results could differ materially from those estimates.</div></div></div></div></div>
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2014Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
32090000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
25679000

Files In Submission

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