$NBIX
NEUROCRINE BIOSCIENCES INC

2014 Q2 Form 10-Q Financial Statement

#000119312514176441 Filed on May 01, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q1
Revenue $0.00 $0.00 $730.0K
YoY Change -100.0% -100.0% -93.52%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.200M $4.200M $3.400M
YoY Change 23.53% 23.53% -8.11%
% of Gross Profit
Research & Development $10.16M $8.572M $10.31M
YoY Change -3.48% -16.88% 9.85%
% of Gross Profit
Depreciation & Amortization $200.0K $200.0K $200.0K
YoY Change 100.0% 0.0% 0.0%
% of Gross Profit
Operating Expenses $14.36M $12.73M $13.71M
YoY Change 3.34% -7.15% 4.95%
Operating Profit -$14.36M -$12.73M -$12.98M
YoY Change 9.07% -1.93% 624.05%
Interest Expense $200.0K $100.0K $100.0K
YoY Change 100.0% 0.0% 0.0%
% of Operating Profit
Other Income/Expense, Net $980.0K $883.0K $900.0K
YoY Change 5.95% -1.89% -0.66%
Pretax Income -$13.40M -$11.80M -$12.10M
YoY Change 9.84% -2.48% 1244.44%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$13.38M -$11.84M -$12.08M
YoY Change 9.3% -1.93% 1262.87%
Net Earnings / Revenue -1654.11%
Basic Earnings Per Share -$0.18
Diluted Earnings Per Share -$176.5K -$167.9K -$0.18
COMMON SHARES
Basic Shares Outstanding 75.86M shares 67.79M shares 66.60M shares
Diluted Shares Outstanding 66.60M shares

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $194.7M $219.9M $158.2M
YoY Change 26.68% 39.0% -12.64%
Cash & Equivalents $37.45M $105.5M $31.56M
Short-Term Investments $157.2M $114.3M $126.7M
Other Short-Term Assets $2.153M
YoY Change 3.56%
Inventory
Prepaid Expenses
Receivables $2.900M $1.900M $0.00
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $197.6M $221.7M $160.4M
YoY Change 26.77% 38.24% -13.29%
LONG-TERM ASSETS
Property, Plant & Equipment $2.239M $1.798M $1.784M
YoY Change 19.35% 0.78% -2.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $65.30M $51.30M $17.40M
YoY Change 414.17% 194.83% -8.42%
Other Assets $4.400M $4.400M $4.300M
YoY Change 2.33% 2.33% 0.0%
Total Long-Term Assets $71.96M $57.56M $23.53M
YoY Change 279.56% 144.64% -6.51%
TOTAL ASSETS
Total Short-Term Assets $197.6M $221.7M $160.4M
Total Long-Term Assets $71.96M $57.56M $23.53M
Total Assets $269.5M $279.3M $183.9M
YoY Change 54.19% 51.85% -12.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $846.0K $818.0K $1.460M
YoY Change -37.24% -43.97% 144.97%
Accrued Expenses $7.439M $6.111M $6.577M
YoY Change -9.11% -7.09% -5.6%
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 $12.05M $10.61M $13.88M
YoY Change -17.29% -23.56% -62.11%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $260.0K $260.0K $152.0K
YoY Change 71.05% 71.05% 22.58%
Total Long-Term Liabilities $260.0K $260.0K $152.0K
YoY Change 71.05% 71.05% 22.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.05M $10.61M $13.88M
Total Long-Term Liabilities $260.0K $260.0K $152.0K
Total Liabilities $32.69M $32.24M $38.97M
YoY Change -15.73% -17.27% -41.23%
SHAREHOLDERS EQUITY
Retained Earnings -$791.0M -$777.6M -$731.7M
YoY Change 6.32% 6.27% 0.85%
Common Stock $76.00K $76.00K $67.00K
YoY Change 13.43% 13.43% 1.52%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $236.8M $247.1M $145.0M
YoY Change
Total Liabilities & Shareholders Equity $269.5M $279.3M $183.9M
YoY Change 54.19% 51.85% -12.48%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income -$13.38M -$11.84M -$12.08M
YoY Change 9.3% -1.93% 1262.87%
Depreciation, Depletion And Amortization $200.0K $200.0K $200.0K
YoY Change 100.0% 0.0% 0.0%
Cash From Operating Activities -$9.900M -$9.800M $1.912M
YoY Change 1.02% -612.55% -117.07%
INVESTING ACTIVITIES
Capital Expenditures -$600.0K $255.0K $59.00K
YoY Change 200.0% 332.2% -85.4%
Acquisitions
YoY Change
Other Investing Activities -$57.70M -$65.50M -$35.00M
YoY Change -372.17% 87.14% -21.88%
Cash From Investing Activities -$58.40M -$65.70M -$35.08M
YoY Change -378.1% 87.3% -22.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $133.2M $966.0K
YoY Change 13688.82% -98.84%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 300.0K 136.2M 966.0K
YoY Change -81.25% 13999.38% -98.84%
NET CHANGE
Cash From Operating Activities -9.900M -9.800M 1.912M
Cash From Investing Activities -58.40M -65.70M -35.08M
Cash From Financing Activities 300.0K 136.2M 966.0K
Net Change In Cash -68.00M 60.70M -32.20M
YoY Change -631.25% -288.52% -220.0%
FREE CASH FLOW
Cash From Operating Activities -$9.900M -$9.800M $1.912M
Capital Expenditures -$600.0K $255.0K $59.00K
Free Cash Flow -$9.300M -$10.06M $1.853M
YoY Change -3.13% -642.63% -115.96%

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CY2014Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"> <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>
CY2014Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.17
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
255000
CY2014Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-199000
CY2014Q1 us-gaap Licenses Revenue
LicensesRevenue
0
CY2014Q1 us-gaap Sale Leaseback Transaction Current Period Gain Recognized
SaleLeasebackTransactionCurrentPeriodGainRecognized
800000
CY2014Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0
CY2014Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
108907000
CY2014Q1 us-gaap Investment Income Net
InvestmentIncomeNet
89000
CY2014Q1 us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
794000
CY2014Q1 us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
-850000
CY2014Q1 us-gaap Revenues
Revenues
0
CY2014Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-12041000
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-12725000
CY2014Q1 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-10000
CY2014Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
883000
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
-11842000
CY2014Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-617000
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
136241000
CY2014Q1 us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
6000
CY2014Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4153000
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2447000
CY2014Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
178000
CY2014Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
60743000
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-65731000
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
12725000
CY2014Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
0
CY2014Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
136241000
CY2014Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
40000
CY2014Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3000000
CY2014Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2400000
CY2014Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
43391000
CY2014Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8572000
CY2014Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1127000
CY2014Q1 nbix Deferred Gain On Sale Of Real Estate
DeferredGainOnSaleOfRealEstate
804000
CY2014Q1 nbix Lease Extension Period
LeaseExtensionPeriod
P10Y
CY2014Q1 nbix Cease Use Liability Payment
CeaseUseLiabilityPayment
102000
CY2014Q1 nbix Increase Decrease In Cease Use Liability
IncreaseDecreaseInCeaseUseLiability
-102000

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