$MEIP
MEI Pharma, Inc.

2015 Q2 Form 10-Q Financial Statement

#000119312515176099 Filed on May 07, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.910M $2.190M $1.990M
YoY Change -11.16% 10.05% 61.79%
% of Gross Profit
Research & Development $3.780M $6.775M $5.415M
YoY Change -41.03% 25.12% 250.94%
% of Gross Profit
Depreciation & Amortization $10.00K $20.00K $10.00K
YoY Change -50.0% 100.0% 0.0%
% of Gross Profit
Operating Expenses $5.690M $8.960M $7.406M
YoY Change -33.53% 20.98% 167.56%
Operating Profit -$8.960M -$7.406M
YoY Change 20.98% 167.56%
Interest Expense $30.00K $30.00K $20.00K
YoY Change 50.0% 50.0% 0.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$5.660M -$8.930M -$7.390M
YoY Change -33.72% 20.84% 168.73%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$5.662M -$8.930M -$7.387M
YoY Change -33.71% 20.89% 168.33%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$165.2K -$266.8K -$343.7K
COMMON SHARES
Basic Shares Outstanding 34.16M shares 33.29M shares 21.50M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $63.80M $70.50M $54.70M
YoY Change 30.74% 28.88% 126.03%
Cash & Equivalents $18.72M $20.47M $19.67M
Short-Term Investments $45.10M $50.10M $35.00M
Other Short-Term Assets $500.0K $600.0K $900.0K
YoY Change 0.0% -33.33% 200.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $64.28M $71.11M $55.54M
YoY Change 30.41% 28.04% 127.36%
LONG-TERM ASSETS
Property, Plant & Equipment $68.00K $77.00K $61.00K
YoY Change -18.07% 26.23% 48.78%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $469.0K $486.0K $505.0K
YoY Change -9.46% -3.76% -2.88%
TOTAL ASSETS
Total Short-Term Assets $64.28M $71.11M $55.54M
Total Long-Term Assets $469.0K $486.0K $505.0K
Total Assets $64.75M $71.60M $56.04M
YoY Change 30.0% 27.76% 124.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $863.0K $2.711M $700.0K
YoY Change -49.47% 287.29% 32.58%
Accrued Expenses $4.096M $3.927M $2.818M
YoY Change 40.85% 39.35% 124.72%
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 $4.959M $6.638M $3.518M
YoY Change 7.43% 88.69% 97.42%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $4.959M $6.638M $3.518M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $5.000M $6.600M $3.500M
YoY Change 8.7% 88.57% 94.44%
SHAREHOLDERS EQUITY
Retained Earnings -$156.1M -$150.5M -$114.9M
YoY Change 26.48% 30.96% 23.44%
Common Stock $215.9M $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $59.79M $64.96M $52.53M
YoY Change
Total Liabilities & Shareholders Equity $64.75M $71.60M $56.04M
YoY Change 30.0% 27.76% 124.65%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income -$5.662M -$8.930M -$7.387M
YoY Change -33.71% 20.89% 168.33%
Depreciation, Depletion And Amortization $10.00K $20.00K $10.00K
YoY Change -50.0% 100.0% 0.0%
Cash From Operating Activities -$6.740M -$8.150M -$5.070M
YoY Change 15.21% 60.75% 92.78%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$10.00K -$10.00K
YoY Change -100.0% 0.0% -66.67%
Acquisitions
YoY Change
Other Investing Activities $5.000M $5.000M -$15.01M
YoY Change -50100.0% -133.31%
Cash From Investing Activities $5.000M $4.990M -$15.02M
YoY Change -12600.0% -133.22% 49966.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -30.00K 0.000
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -6.740M -8.150M -5.070M
Cash From Investing Activities 5.000M 4.990M -15.02M
Cash From Financing Activities 0.000 -30.00K 0.000
Net Change In Cash -1.740M -3.190M -20.09M
YoY Change -70.51% -84.12% 638.6%
FREE CASH FLOW
Cash From Operating Activities -$6.740M -$8.150M -$5.070M
Capital Expenditures $0.00 -$10.00K -$10.00K
Free Cash Flow -$6.740M -$8.140M -$5.060M
YoY Change 15.81% 60.87% 94.62%

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<div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>Use of Estimates</b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> 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. The Company uses estimates for certain accruals, including drug development costs, clinical and pre-clinical study fees and expenses, and share-based compensation, among others. Actual results could materially differ from those estimates.</p> </div>
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CY2015Q1 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2015Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2185000
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1068000
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
8960000
CY2015Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6775000

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