2013 Q2 Form 10-Q Financial Statement

#000119312513304433 Filed on July 26, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $730.0K $10.57M
YoY Change -93.09% -13.06%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.400M $3.100M
YoY Change 9.68% 10.71%
% of Gross Profit
Research & Development $10.53M $8.818M
YoY Change 19.38% 7.85%
% of Gross Profit
Depreciation & Amortization $100.0K $100.0K
YoY Change 0.0% -50.0%
% of Gross Profit
Operating Expenses $13.90M $11.95M
YoY Change 16.3% 8.03%
Operating Profit -$13.17M -$1.380M
YoY Change 854.13% -225.91%
Interest Expense $100.0K $100.0K
YoY Change 0.0% 0.0%
% of Operating Profit
Other Income/Expense, Net $925.0K $879.0K
YoY Change 5.23% -0.11%
Pretax Income -$12.20M -$500.0K
YoY Change 2340.0% -125.0%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$12.24M -$501.0K
YoY Change 2343.51% -125.35%
Net Earnings / Revenue -1676.99% -4.74%
Basic Earnings Per Share -$0.18 -$0.01
Diluted Earnings Per Share -$0.18 -$0.01
COMMON SHARES
Basic Shares Outstanding 66.80M shares 66.31M shares
Diluted Shares Outstanding 66.80M shares 66.31M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $153.7M $177.5M
YoY Change -13.41% 54.08%
Cash & Equivalents $44.31M $42.02M
Short-Term Investments $109.4M $135.5M
Other Short-Term Assets $2.119M $2.179M
YoY Change -2.75% 8.95%
Inventory
Prepaid Expenses
Receivables $0.00 $1.500M
Other Receivables $0.00 $0.00
Total Short-Term Assets $155.9M $181.3M
YoY Change -14.02% 51.05%
LONG-TERM ASSETS
Property, Plant & Equipment $1.876M $1.861M
YoY Change 0.81% 43.15%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $12.70M $14.60M
YoY Change -13.01%
Other Assets $4.300M $4.300M
YoY Change 0.0% -29.51%
Total Long-Term Assets $18.96M $20.83M
YoY Change -8.97% 181.47%
TOTAL ASSETS
Total Short-Term Assets $155.9M $181.3M
Total Long-Term Assets $18.96M $20.83M
Total Assets $174.8M $202.1M
YoY Change -13.5% 58.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.348M $1.420M
YoY Change -5.07% 57.78%
Accrued Expenses $8.185M $6.937M
YoY Change 17.99% -4.97%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $14.57M $29.15M
YoY Change -50.01% -41.7%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $152.0K $151.0K
YoY Change 0.66% -99.71%
Total Long-Term Liabilities $152.0K $151.0K
YoY Change 0.66% -99.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.57M $29.15M
Total Long-Term Liabilities $152.0K $151.0K
Total Liabilities $38.80M $57.35M
YoY Change -32.36% -43.66%
SHAREHOLDERS EQUITY
Retained Earnings -$744.0M -$726.1M
YoY Change 2.47%
Common Stock $67.00K $66.00K
YoY Change 1.52%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $136.0M $144.7M
YoY Change
Total Liabilities & Shareholders Equity $174.8M $202.1M
YoY Change -13.5% 58.62%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income -$12.24M -$501.0K
YoY Change 2343.51% -125.35%
Depreciation, Depletion And Amortization $100.0K $100.0K
YoY Change 0.0% -50.0%
Cash From Operating Activities -$9.800M -$6.900M
YoY Change 42.03% 16.95%
INVESTING ACTIVITIES
Capital Expenditures -$200.0K -$200.0K
YoY Change 0.0% 100.0%
Acquisitions
YoY Change
Other Investing Activities $21.20M -$27.90M
YoY Change -175.99% -9400.0%
Cash From Investing Activities $21.00M -$28.10M
YoY Change -174.73% -14150.0%
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 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -9.800M -6.900M
Cash From Investing Activities 21.00M -28.10M
Cash From Financing Activities 1.600M 0.000
Net Change In Cash 12.80M -35.00M
YoY Change -136.57% 525.0%
FREE CASH FLOW
Cash From Operating Activities -$9.800M -$6.900M
Capital Expenditures -$200.0K -$200.0K
Free Cash Flow -$9.600M -$6.700M
YoY Change 43.28% 15.52%

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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
83296000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
-28000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
26000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
300000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2800000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-73303000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
18206000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1205000
nbix Potential Dilutive Securities That Could Be Included In Computation Of Earnings Per Share Amount
PotentialDilutiveSecuritiesThatCouldBeIncludedInComputationOfEarningsPerShareAmount
1400000 shares
nbix Deferred Gain Recognized
DeferredGainRecognized
1500000
nbix Deferred Gain On Sale Of Real Estate
DeferredGainOnSaleOfRealEstate
1517000
nbix Sponsored Research And Development Revenue
SponsoredResearchAndDevelopmentRevenue
3569000
nbix Cease Use Liability Payment
CeaseUseLiabilityPayment
129000
nbix Increase Decrease In Cease Use Liability
IncreaseDecreaseInCeaseUseLiability
-129000
CY2012Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
10900000 shares
CY2012Q1 us-gaap Equity Issuance Per Share Amount
EquityIssuancePerShareAmount
8.10
CY2012Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
83000000
CY2010Q4 us-gaap Operating Leases Rent Expense Sublease Rentals1
OperatingLeasesRentExpenseSubleaseRentals1
600000
CY2010Q4 nbix Subleased Agreement Area
SubleasedAgreementArea
16000 sqft
CY2012Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
66309000 shares
CY2012Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2400000 shares
CY2012Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.01
CY2012Q2 us-gaap Licenses Revenue
LicensesRevenue
9029000
CY2012Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5000
CY2010Q4 nbix Sublease Term
SubleaseTerm
P3Y
CY2012Q3 nbix Subleased Agreement Area
SubleasedAgreementArea
17000 sqft
CY2007 us-gaap Sale Leaseback Transaction Lease Terms
SaleLeasebackTransactionLeaseTerms
The Company entered into a lease agreement (Lease) with DMH Campus Investors, LLC (DMH) whereby it 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.
CY2007 us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
61000000
CY2007 nbix Sale Leaseback Transaction Lease Period
SaleLeasebackTransactionLeasePeriod
P12Y
CY2007 nbix Property Plant Equipment Selling Price
PropertyPlantEquipmentSellingPrice
109000000
CY2007 nbix Mortgage Loans Assumed By Purchaser
MortgageLoansAssumedByPurchaser
47700000
CY2013Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
925000
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
-12242000
CY2012Q2 us-gaap Revenues
Revenues
10569000
CY2012Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-517000
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1380000
CY2012Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
879000
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
-501000
CY2012Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3131000
CY2012Q2 us-gaap Operating Expenses
OperatingExpenses
11949000
CY2012Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1400000
CY2012Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8818000
CY2012Q2 nbix Potential Dilutive Securities That Could Be Included In Computation Of Earnings Per Share Amount
PotentialDilutiveSecuritiesThatCouldBeIncludedInComputationOfEarningsPerShareAmount
1300000 shares
CY2012Q2 nbix Deferred Gain On Sale Of Real Estate
DeferredGainOnSaleOfRealEstate
759000
CY2012Q2 nbix Sponsored Research And Development Revenue
SponsoredResearchAndDevelopmentRevenue
1540000
CY2012Q2 nbix Cease Use Liability Payment
CeaseUseLiabilityPayment
65000
CY2013Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
66799000 shares
CY2013Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000 shares
CY2013Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.18
CY2013Q2 us-gaap Licenses Revenue
LicensesRevenue
730000
CY2013Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4000
CY2013Q2 us-gaap Investment Income Net
InvestmentIncomeNet
121000
CY2013Q2 us-gaap Revenues
Revenues
730000
CY2013Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-12242000
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-13167000
CY2013Q2 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
19000
CY2013Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3370000
CY2013Q2 us-gaap Operating Expenses
OperatingExpenses
13897000
CY2013Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1700000
CY2013Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10527000
CY2013Q2 nbix Potential Dilutive Securities That Could Be Included In Computation Of Earnings Per Share Amount
PotentialDilutiveSecuritiesThatCouldBeIncludedInComputationOfEarningsPerShareAmount
2300000 shares
CY2013Q2 nbix Deferred Gain On Sale Of Real Estate
DeferredGainOnSaleOfRealEstate
781000
CY2013Q2 nbix Cease Use Liability Payment
CeaseUseLiabilityPayment
197000

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