$MEIP
MEI Pharma, Inc.

2016 Q4 Form 10-Q Financial Statement

#000119312517033915 Filed on February 08, 2017

View on sec.gov

Income Statement

Concept 2016 Q4 2015 Q4
Revenue $17.20M $0.00
YoY Change
Cost Of Revenue $1.771M
YoY Change
Gross Profit $15.43M
YoY Change
Gross Profit Margin 89.7%
Selling, General & Admin $1.970M $1.950M
YoY Change 1.03% -19.42%
% of Gross Profit 12.77%
Research & Development $1.642M $3.182M
YoY Change -48.4% -52.53%
% of Gross Profit 10.64%
Depreciation & Amortization $20.00K $10.00K
YoY Change 100.0% 0.0%
% of Gross Profit 0.13%
Operating Expenses $1.642M $5.127M
YoY Change -67.97% -43.77%
Operating Profit $11.82M -$5.127M
YoY Change -330.47% -43.77%
Interest Expense $70.00K $30.00K
YoY Change 133.33% 200.0%
% of Operating Profit 0.59%
Other Income/Expense, Net
YoY Change
Pretax Income $11.89M -$5.100M
YoY Change -333.14% -44.02%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $11.89M -$5.101M
YoY Change -332.99% -44.0%
Net Earnings / Revenue 69.1%
Basic Earnings Per Share $0.32 -$0.15
Diluted Earnings Per Share $0.32 -$0.15
COMMON SHARES
Basic Shares Outstanding 37.17M shares 34.42M shares
Diluted Shares Outstanding 37.22M shares 34.42M shares

Balance Sheet

Concept 2016 Q4 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $55.20M $53.80M
YoY Change 2.6% -31.64%
Cash & Equivalents $15.05M $13.67M
Short-Term Investments $40.10M $40.10M
Other Short-Term Assets $2.700M $800.0K
YoY Change 237.5% 60.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $57.82M $54.58M
YoY Change 5.95% -31.13%
LONG-TERM ASSETS
Property, Plant & Equipment $40.00K $56.00K
YoY Change -28.57% -29.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $388.0K $439.0K
YoY Change -11.62% -11.67%
TOTAL ASSETS
Total Short-Term Assets $57.82M $54.58M
Total Long-Term Assets $388.0K $439.0K
Total Assets $58.21M $55.02M
YoY Change 5.81% -31.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $382.0K $448.0K
YoY Change -14.73% -79.18%
Accrued Expenses $2.938M $2.930M
YoY Change 0.27% -38.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.320M $3.378M
YoY Change -1.72% -50.92%
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 $3.320M $3.378M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $3.300M $3.400M
YoY Change -2.94% -50.72%
SHAREHOLDERS EQUITY
Retained Earnings -$169.4M -$165.9M
YoY Change 2.13% 17.18%
Common Stock $224.3M $217.5M
YoY Change 3.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $54.89M $51.64M
YoY Change
Total Liabilities & Shareholders Equity $58.21M $55.02M
YoY Change 5.81% -31.0%

Cashflow Statement

Concept 2016 Q4 2015 Q4
OPERATING ACTIVITIES
Net Income $11.89M -$5.101M
YoY Change -332.99% -44.0%
Depreciation, Depletion And Amortization $20.00K $10.00K
YoY Change 100.0% 0.0%
Cash From Operating Activities -$3.740M -$4.230M
YoY Change -11.58% -34.42%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $5.010M $20.00K
YoY Change 24950.0% -100.07%
Cash From Investing Activities $5.000M $20.00K
YoY Change 24900.0% -100.07%
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
YoY Change
NET CHANGE
Cash From Operating Activities -3.740M -4.230M
Cash From Investing Activities 5.000M 20.00K
Cash From Financing Activities 0.000
Net Change In Cash 1.260M -4.210M
YoY Change -129.93% -163.79%
FREE CASH FLOW
Cash From Operating Activities -$3.740M -$4.230M
Capital Expenditures $0.00
Free Cash Flow -$3.740M
YoY Change

Facts In Submission

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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.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> During the six months ended December&#xA0;31, 2016, the Company recorded adjustments of $1.9&#xA0;million to reduce expenses related to clinical trials that were at or near completion for Pracinostat and <font style="WHITE-SPACE: nowrap">ME-344</font> to reflect revised estimated expenses for the conduct of the clinical trials.</p> </div>
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WeightedAverageNumberOfSharesOutstandingBasic
37172428 shares
CY2016Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.32
CY2016Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
44104 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
0 shares
CY2016Q4 us-gaap Revenues
Revenues
17199000
CY2016Q4 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
98000
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
11816000
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
11885000
CY2016Q4 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
69000
CY2016Q4 us-gaap Licenses Revenue
LicensesRevenue
17101000
CY2016Q4 us-gaap Share Based Compensation
ShareBasedCompensation
674000
CY2016Q4 us-gaap Costs And Expenses
CostsAndExpenses
5383000
CY2016Q4 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1970000
CY2016Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1642000
CY2016Q4 us-gaap Cost Of Services
CostOfServices
1771000

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