$MEIP
MEI Pharma, Inc.

2016 Q3 Form 10-Q Financial Statement

#000119312516763751 Filed on November 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2016 Q2 2015 Q3
Revenue $1.096M $0.00 $0.00
YoY Change
Cost Of Revenue $1.094M
YoY Change
Gross Profit $2.000K
YoY Change
Gross Profit Margin 0.18%
Selling, General & Admin $2.680M $1.840M $1.830M
YoY Change 46.45% -3.66% -25.0%
% of Gross Profit 134000.0%
Research & Development $1.646M $3.990M $2.816M
YoY Change -41.55% 5.56% -57.11%
% of Gross Profit 82300.0%
Depreciation & Amortization $14.00K $10.00K $15.00K
YoY Change -6.67% 0.0% -6.25%
% of Gross Profit 700.0%
Operating Expenses $1.646M $5.820M $4.646M
YoY Change -64.57% 2.28% -48.41%
Operating Profit -$4.324M -$4.646M
YoY Change -6.93% -48.41%
Interest Expense $60.00K $50.00K $30.00K
YoY Change 100.0% 66.67% 200.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$4.270M -$5.770M -$4.620M
YoY Change -7.58% 1.94% -48.61%
Income Tax $1.000K $0.00 $1.000K
% Of Pretax Income
Net Earnings -$4.270M -$5.770M -$4.620M
YoY Change -7.58% 1.91% -48.63%
Net Earnings / Revenue -389.6%
Basic Earnings Per Share -$0.12 -$0.17 -$0.13
Diluted Earnings Per Share -$0.12 -$0.17 -$0.13
COMMON SHARES
Basic Shares Outstanding 35.75M shares 34.16M shares 34.16M shares
Diluted Shares Outstanding 35.75M shares

Balance Sheet

Concept 2016 Q3 2016 Q2 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $58.90M $45.90M $58.00M
YoY Change 1.55% -28.06% 37.77%
Cash & Equivalents $13.79M $10.84M $17.88M
Short-Term Investments $45.10M $35.10M $40.10M
Other Short-Term Assets $1.700M $800.0K $600.0K
YoY Change 183.33% 60.0% 50.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $60.64M $46.75M $58.61M
YoY Change 3.46% -27.27% 38.19%
LONG-TERM ASSETS
Property, Plant & Equipment $46.00K $49.00K $62.00K
YoY Change -25.81% -27.94% -17.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $403.0K $415.0K $454.0K
YoY Change -11.23% -11.51% -9.56%
TOTAL ASSETS
Total Short-Term Assets $60.64M $46.75M $58.61M
Total Long-Term Assets $403.0K $415.0K $454.0K
Total Assets $61.05M $47.16M $59.07M
YoY Change 3.35% -27.16% 37.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $749.0K $1.079M $253.0K
YoY Change 196.05% 25.03% -77.23%
Accrued Expenses $2.428M $4.433M $2.874M
YoY Change -15.52% 8.23% -31.52%
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 $17.22M $5.512M $3.127M
YoY Change 450.69% 11.15% -41.09%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.500M
YoY Change
Total Long-Term Liabilities $1.500M $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $17.22M $5.512M $3.127M
Total Long-Term Liabilities $1.500M $0.00 $0.00
Total Liabilities $18.71M $5.512M $3.100M
YoY Change 503.68% 10.24% -41.51%
SHAREHOLDERS EQUITY
Retained Earnings -$181.3M -$177.0M -$160.8M
YoY Change 12.76% 13.36% 21.38%
Common Stock $223.6M $218.7M $216.7M
YoY Change 3.19% 1.26%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $42.33M $41.65M $55.94M
YoY Change
Total Liabilities & Shareholders Equity $61.05M $47.16M $59.07M
YoY Change 3.35% -27.16% 37.63%

Cashflow Statement

Concept 2016 Q3 2016 Q2 2015 Q3
OPERATING ACTIVITIES
Net Income -$4.270M -$5.770M -$4.620M
YoY Change -7.58% 1.91% -48.63%
Depreciation, Depletion And Amortization $14.00K $10.00K $15.00K
YoY Change -6.67% 0.0% -6.25%
Cash From Operating Activities $8.770M -$3.490M -$5.760M
YoY Change -252.26% -48.22% -14.41%
INVESTING ACTIVITIES
Capital Expenditures $2.000K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$10.03M $30.00K $4.920M
YoY Change -303.86% -99.4% -50.8%
Cash From Investing Activities -$10.03M $30.00K $4.920M
YoY Change -303.86% -99.4% -50.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.212M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.210M 0.000
YoY Change
NET CHANGE
Cash From Operating Activities 8.770M -3.490M -5.760M
Cash From Investing Activities -10.03M 30.00K 4.920M
Cash From Financing Activities 4.210M 0.000
Net Change In Cash 2.950M -3.460M -840.0K
YoY Change -451.19% 98.85% -125.69%
FREE CASH FLOW
Cash From Operating Activities $8.770M -$3.490M -$5.760M
Capital Expenditures $2.000K $0.00
Free Cash Flow $8.768M -$3.490M
YoY Change -48.22%

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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Use of Estimates</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of financial statements in conformity with U.S. 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 that affect the reported amounts (including assets, liabilities, revenues and expenses) and related disclosures. Actual results could materially differ from those estimates. During the quarter ended September&#xA0;30, 2016, the Company recorded an adjustment of $1.0 million to reduce accrued expenses related to clinical trials that were at or near completion for Pracinostat and ME-344 to reflect revised amounts expected to be invoiced upon final billing from third party vendors.</p> </div>
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CashAndCashEquivalentsPeriodIncreaseDecrease
2952000
CY2016Q3 us-gaap Cost Of Services
CostOfServices
1094000
CY2016Q3 meip Non Affiliated Public Float Market Value Description
NonAffiliatedPublicFloatMarketValueDescription
The market value of the Company's non-affiliated public float was less than $75.0 million as of September 30, 2016. Accordingly, until the Company's non-affiliated public float exceeds $75.0 million, the Company may not sell shares with a market value greater than one-third of its non-affiliated public float during any 12-month period under the shelf registration statement.
CY2016Q3 meip Lease Arrangement Rent Area
LeaseArrangementRentArea
8800 sqft
CY2016Q3 meip Warrant Expiration Month Year
WarrantExpirationMonthYear
2016-11
CY2016Q3 meip Lease Expiration Month And Year
LeaseExpirationMonthAndYear
2017-06

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0001193125-16-763751.txt Edgar Link pending
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d447194d10q.htm Edgar Link pending
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meip-20160930.xml Edgar Link completed
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meip-20160930_cal.xml Edgar Link unprocessable
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meip-20160930_pre.xml Edgar Link unprocessable
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