$NBIX
NEUROCRINE BIOSCIENCES INC

2012 Q2 Form 10-Q Financial Statement

#000119312512325993 Filed on July 31, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q2
Revenue $10.57M $12.16M
YoY Change -13.06% 164.28%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.100M $2.800M
YoY Change 10.71% -9.68%
% of Gross Profit
Research & Development $8.818M $8.176M
YoY Change 7.85% 12.0%
% of Gross Profit
Depreciation & Amortization $100.0K $200.0K
YoY Change -50.0% -50.0%
% of Gross Profit
Operating Expenses $11.95M $11.06M
YoY Change 8.03% 6.36%
Operating Profit -$1.380M $1.096M
YoY Change -225.91%
Interest Expense $100.0K $100.0K
YoY Change 0.0% -200.0%
% of Operating Profit 9.12%
Other Income/Expense, Net $879.0K $880.0K
YoY Change -0.11% 10.0%
Pretax Income -$500.0K $2.000M
YoY Change -125.0% -138.46%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$501.0K $1.976M
YoY Change -125.35% -138.0%
Net Earnings / Revenue -4.74% 16.25%
Basic Earnings Per Share -$0.01 $0.04
Diluted Earnings Per Share -$0.01 $0.04
COMMON SHARES
Basic Shares Outstanding 66.31M shares 55.21M shares
Diluted Shares Outstanding 66.31M shares 56.43M shares

Balance Sheet

Concept 2012 Q2 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $177.5M $115.2M
YoY Change 54.08% -12.33%
Cash & Equivalents $42.02M $18.84M
Short-Term Investments $135.5M $96.30M
Other Short-Term Assets $2.179M $2.000M
YoY Change 8.95% 81.82%
Inventory
Prepaid Expenses
Receivables $1.500M $2.900M
Other Receivables $0.00 $0.00
Total Short-Term Assets $181.3M $120.0M
YoY Change 51.05% -16.55%
LONG-TERM ASSETS
Property, Plant & Equipment $1.861M $1.300M
YoY Change 43.15% -38.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $14.60M $0.00
YoY Change -100.0%
Other Assets $4.300M $6.100M
YoY Change -29.51% -3.17%
Total Long-Term Assets $20.83M $7.400M
YoY Change 181.47% -33.93%
TOTAL ASSETS
Total Short-Term Assets $181.3M $120.0M
Total Long-Term Assets $20.83M $7.400M
Total Assets $202.1M $127.4M
YoY Change 58.62% -17.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.420M $900.0K
YoY Change 57.78% 50.0%
Accrued Expenses $6.937M $7.300M
YoY Change -4.97% 1.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $29.15M $50.00M
YoY Change -41.7% -4.03%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $151.0K $51.90M
YoY Change -99.71% -42.65%
Total Long-Term Liabilities $151.0K $51.90M
YoY Change -99.71% -42.65%
TOTAL LIABILITIES
Total Short-Term Liabilities $29.15M $50.00M
Total Long-Term Liabilities $151.0K $51.90M
Total Liabilities $57.35M $101.8M
YoY Change -43.66% -28.61%
SHAREHOLDERS EQUITY
Retained Earnings -$726.1M
YoY Change
Common Stock $66.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $144.7M $25.60M
YoY Change
Total Liabilities & Shareholders Equity $202.1M $127.4M
YoY Change 58.62% -17.81%

Cashflow Statement

Concept 2012 Q2 2011 Q2
OPERATING ACTIVITIES
Net Income -$501.0K $1.976M
YoY Change -125.35% -138.0%
Depreciation, Depletion And Amortization $100.0K $200.0K
YoY Change -50.0% -50.0%
Cash From Operating Activities -$6.900M -$5.900M
YoY Change 16.95% -109.01%
INVESTING ACTIVITIES
Capital Expenditures -$200.0K -$100.0K
YoY Change 100.0% -50.0%
Acquisitions
YoY Change
Other Investing Activities -$27.90M $300.0K
YoY Change -9400.0% -101.34%
Cash From Investing Activities -$28.10M $200.0K
YoY Change -14150.0% -100.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 100.0K
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -6.900M -5.900M
Cash From Investing Activities -28.10M 200.0K
Cash From Financing Activities 0.000 100.0K
Net Change In Cash -35.00M -5.600M
YoY Change 525.0% -113.05%
FREE CASH FLOW
Cash From Operating Activities -$6.900M -$5.900M
Capital Expenditures -$200.0K -$100.0K
Free Cash Flow -$6.700M -$5.800M
YoY Change 15.52% -108.83%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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nbix Lease Expiration Year
LeaseExpirationYear
2019
dei Trading Symbol
TradingSymbol
NBIX
dei Entity Registrant Name
EntityRegistrantName
NEUROCRINE BIOSCIENCES INC
dei Amendment Flag
AmendmentFlag
false
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2012-06-30
dei Entity Central Index Key
EntityCentralIndexKey
0000914475
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
us-gaap Use Of Estimates
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<div> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2"><i>Use of Estimates</i>. The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and the accompanying notes. Actual results could differ from those estimates.</font></p> </div>
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64857000 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
18206000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
83296000
us-gaap Operating Expenses
OperatingExpenses
25008000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
64857000 shares
us-gaap Revenues
Revenues
21836000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2800000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-1490000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2300000 shares
us-gaap Net Income Loss
NetIncomeLoss
-1387000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1785000
us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
345000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
1400000 shares
us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
25000 shares
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-56000
nbix Deferred Gain Recognized
DeferredGainRecognized
1500000
nbix Sponsored Research And Development Revenue
SponsoredResearchAndDevelopmentRevenue
3569000
nbix License Fees And Milestones Revenue
LicenseFeesAndMilestonesRevenue
18267000
nbix Deferred Gain On Sale Of Real Estate
DeferredGainOnSaleOfRealEstate
1517000
nbix Increase Decrease In Cease Use Liability
IncreaseDecreaseInCeaseUseLiability
-129000
nbix Potential Dilutive Securities That Could Be Included In Computation Of Earnings Per Share Amount
PotentialDilutiveSecuritiesThatCouldBeIncludedInComputationOfEarningsPerShareAmount
1400000 shares
nbix Share Based Compensation Arrangement By Share Based Payment Award Contractual Life
ShareBasedCompensationArrangementByShareBasedPaymentAwardContractualLife
P10Y
CY2011Q3 us-gaap Operating Leases Rent Expense Sublease Rentals1
OperatingLeasesRentExpenseSubleaseRentals1
100000
CY2011Q3 nbix Subleased Agreement Area
SubleasedAgreementArea
3300 sqft
CY2011Q3 nbix Sublease Term
SubleaseTerm
P3Y
CY2012Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
83000000
CY2012Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
10900000 shares
CY2012Q1 us-gaap Equity Issuance Per Share Amount
EquityIssuancePerShareAmount
8.10
CY2007Q4 us-gaap Sale Leaseback Transaction Lease Terms
SaleLeasebackTransactionLeaseTerms
the Company entered into a lease agreement (Lease) with DMH Campus Investors, LLC (DMH) whereby the Company leased back for an initial term of 12 years its corporate headquarters comprised of two buildings located at 12790 El Camino Real (Front Building) and 12780 El Camino Real (Rear Building) in San Diego, California. The Company also entered into a series of lease amendments (Amendments), beginning in late 2008, through which it vacated the Front Building, but continues to occupy the Rear Building.
CY2007Q4 us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
61000000
CY2007Q4 nbix Mortgage Loans Assumed By Purchaser
MortgageLoansAssumedByPurchaser
47700000
CY2007Q4 nbix Sale Leaseback Transaction Lease Period
SaleLeasebackTransactionLeasePeriod
P12Y
CY2010Q4 us-gaap Operating Leases Rent Expense Sublease Rentals1
OperatingLeasesRentExpenseSubleaseRentals1
600000
CY2010Q4 nbix Subleased Agreement Area
SubleasedAgreementArea
16000 sqft
CY2010Q4 nbix Sublease Term
SubleaseTerm
P3Y
CY2011Q4 nbix Operating Loss Carryforwards Utilized During Period
OperatingLossCarryforwardsUtilizedDuringPeriod
17500000
CY2011Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
1096000
CY2011Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5000
CY2011Q2 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
18000
CY2011Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2007000
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
CY2011Q2 us-gaap Investment Income Net
InvestmentIncomeNet
120000
CY2011Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2809000
CY2011Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56434000 shares
CY2011Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
CY2011Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8176000
CY2011Q2 us-gaap Operating Expenses
OperatingExpenses
11061000
CY2011Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55209000 shares
CY2011Q2 us-gaap Revenues
Revenues
12157000
CY2011Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
400000
CY2011Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1300000 shares
CY2011Q2 us-gaap Net Income Loss
NetIncomeLoss
1976000
CY2011Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
880000
CY2011Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
31000
CY2011Q2 nbix Deferred Gain Recognized
DeferredGainRecognized
700000
CY2011Q2 nbix Sponsored Research And Development Revenue
SponsoredResearchAndDevelopmentRevenue
2919000
CY2011Q2 nbix License Fees And Milestones Revenue
LicenseFeesAndMilestonesRevenue
9238000
CY2011Q2 nbix Cease Use Expense
CeaseUseExpense
76000
CY2011Q2 nbix Deferred Gain On Sale Of Real Estate
DeferredGainOnSaleOfRealEstate
737000
CY2011Q2 nbix Increase Decrease In Cease Use Liability
IncreaseDecreaseInCeaseUseLiability
-1219000
CY2011Q2 nbix Potential Dilutive Securities That Could Be Included In Computation Of Earnings Per Share Amount
PotentialDilutiveSecuritiesThatCouldBeIncludedInComputationOfEarningsPerShareAmount
1200000 shares
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1380000
CY2012Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5000
CY2012Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-517000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2012Q2 us-gaap Investment Income Net
InvestmentIncomeNet
115000
CY2012Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3131000
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
66309000 shares
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2012Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8818000
CY2012Q2 us-gaap Operating Expenses
OperatingExpenses
11949000
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
66309000 shares
CY2012Q2 us-gaap Revenues
Revenues
10569000
CY2012Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1400000
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
-501000
CY2012Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
879000
CY2012Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-16000
CY2012Q2 nbix Deferred Gain Recognized
DeferredGainRecognized
800000
CY2012Q2 nbix Sponsored Research And Development Revenue
SponsoredResearchAndDevelopmentRevenue
1540000
CY2012Q2 nbix License Fees And Milestones Revenue
LicenseFeesAndMilestonesRevenue
9029000
CY2012Q2 nbix Deferred Gain On Sale Of Real Estate
DeferredGainOnSaleOfRealEstate
759000
CY2012Q2 nbix Increase Decrease In Cease Use Liability
IncreaseDecreaseInCeaseUseLiability
-65000
CY2012Q2 nbix Potential Dilutive Securities That Could Be Included In Computation Of Earnings Per Share Amount
PotentialDilutiveSecuritiesThatCouldBeIncludedInComputationOfEarningsPerShareAmount
1300000 shares

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