$NBIX
NEUROCRINE BIOSCIENCES INC

2015 Q3 Form 10-Q Financial Statement

#000119312515268390 Filed on July 29, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2015 Q2 2014 Q2
Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $11.50M $6.600M $4.200M
YoY Change 144.68% 57.14% 23.53%
% of Gross Profit
Research & Development $24.39M $18.72M $10.16M
YoY Change 100.0% 84.22% -3.48%
% of Gross Profit
Depreciation & Amortization $200.0K $300.0K $200.0K
YoY Change 0.0% 50.0% 100.0%
% of Gross Profit
Operating Expenses $35.84M $25.32M $14.36M
YoY Change 112.64% 76.32% 3.34%
Operating Profit -$35.84M -$25.32M -$14.36M
YoY Change 112.64% 76.32% 9.07%
Interest Expense $600.0K $500.0K $200.0K
YoY Change 200.0% 150.0% 100.0%
% of Operating Profit
Other Income/Expense, Net $1.409M $1.335M $980.0K
YoY Change 43.48% 36.22% 5.95%
Pretax Income -$34.40M -$24.00M -$13.40M
YoY Change 116.35% 79.1% 9.84%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$34.44M -$23.99M -$13.38M
YoY Change 116.91% 79.26% 9.3%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$400.5K -$280.7K -$176.5K
COMMON SHARES
Basic Shares Outstanding 85.87M shares 85.42M shares 75.86M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q3 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $376.8M $384.7M $194.7M
YoY Change 109.68% 97.59% 26.68%
Cash & Equivalents $66.38M $132.1M $37.45M
Short-Term Investments $310.5M $252.7M $157.2M
Other Short-Term Assets $5.940M $4.696M
YoY Change 41.63%
Inventory
Prepaid Expenses
Receivables $2.900M
Other Receivables $0.00
Total Short-Term Assets $382.8M $389.4M $197.6M
YoY Change 108.18% 97.1% 26.77%
LONG-TERM ASSETS
Property, Plant & Equipment $2.874M $2.802M $2.239M
YoY Change 25.39% 25.15% 19.35%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $102.0M $114.2M $65.30M
YoY Change 52.01% 74.89% 414.17%
Other Assets $4.800M $4.800M $4.400M
YoY Change 9.09% 9.09% 2.33%
Total Long-Term Assets $109.7M $121.8M $71.96M
YoY Change 48.41% 69.24% 279.56%
TOTAL ASSETS
Total Short-Term Assets $382.8M $389.4M $197.6M
Total Long-Term Assets $109.7M $121.8M $71.96M
Total Assets $492.4M $511.2M $269.5M
YoY Change 91.05% 89.66% 54.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.197M $1.035M $846.0K
YoY Change 33.0% 22.34% -37.24%
Accrued Expenses $14.51M $12.39M $7.439M
YoY Change 55.95% 66.58% -9.11%
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 $19.82M $17.55M $12.05M
YoY Change 41.13% 45.63% -17.29%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $220.0K $245.0K $260.0K
YoY Change -15.38% -5.77% 71.05%
Total Long-Term Liabilities $220.0K $245.0K $260.0K
YoY Change -15.38% -5.77% 71.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.82M $17.55M $12.05M
Total Long-Term Liabilities $220.0K $245.0K $260.0K
Total Liabilities $45.49M $44.27M $32.69M
YoY Change 34.94% 35.39% -15.73%
SHAREHOLDERS EQUITY
Retained Earnings -$885.9M -$851.5M -$791.0M
YoY Change 9.8% 7.65% 6.32%
Common Stock $1.333B $86.00K $76.00K
YoY Change 1754467.11% 13.16% 13.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $446.9M $466.9M $236.8M
YoY Change
Total Liabilities & Shareholders Equity $492.4M $511.2M $269.5M
YoY Change 91.05% 89.66% 54.19%

Cashflow Statement

Concept 2015 Q3 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income -$34.44M -$23.99M -$13.38M
YoY Change 116.91% 79.26% 9.3%
Depreciation, Depletion And Amortization $200.0K $300.0K $200.0K
YoY Change 0.0% 50.0% 100.0%
Cash From Operating Activities -$18.60M $14.00M -$9.900M
YoY Change 53.72% -241.41% 1.02%
INVESTING ACTIVITIES
Capital Expenditures -$300.0K -$500.0K -$600.0K
YoY Change 0.0% -16.67% 200.0%
Acquisitions
YoY Change
Other Investing Activities -$47.60M -$53.40M -$57.70M
YoY Change -1460.0% -7.45% -372.17%
Cash From Investing Activities -$47.90M -$53.90M -$58.40M
YoY Change -1596.88% -7.71% -378.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 700.0K 1.800M 300.0K
YoY Change 40.0% 500.0% -81.25%
NET CHANGE
Cash From Operating Activities -18.60M 14.00M -9.900M
Cash From Investing Activities -47.90M -53.90M -58.40M
Cash From Financing Activities 700.0K 1.800M 300.0K
Net Change In Cash -65.80M -38.10M -68.00M
YoY Change 683.33% -43.97% -631.25%
FREE CASH FLOW
Cash From Operating Activities -$18.60M $14.00M -$9.900M
Capital Expenditures -$300.0K -$500.0K -$600.0K
Free Cash Flow -$18.30M $14.50M -$9.300M
YoY Change 55.08% -255.91% -3.13%

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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> <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.</p> </div>
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SaleLeasebackTransactionCurrentPeriodGainRecognized
1700000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
275284000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
495000
us-gaap Operating Expenses
OperatingExpenses
47379000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
275284000
us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
53000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
12085000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
10231000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
9000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1673000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
101056000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8300000
us-gaap Share Based Compensation
ShareBasedCompensation
8263000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
117619000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-170006000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4600000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
35294000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-15000
CY2015Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000 shares
nbix Lease Extension Period
LeaseExtensionPeriod
P10Y
nbix Subleased Agreement Area
SubleasedAgreementArea
34000 sqft
nbix Deferred Gain On Sale Of Real Estate
DeferredGainOnSaleOfRealEstate
1659000
nbix Lease Expiration Year
LeaseExpirationYear
2019
nbix Cease Use Liability Payment
CeaseUseLiabilityPayment
265000
nbix Increase Decrease In Cease Use Liability
IncreaseDecreaseInCeaseUseLiability
-352000
nbix Change In Estimate On Cease Use Liability
ChangeInEstimateOnCeaseUseLiability
-87000
CY2014Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
133200000
CY2007Q4 us-gaap Mortgage Loans On Real Estate Cost Of Mortgages Sold
MortgageLoansOnRealEstateCostOfMortgagesSold
47700000
CY2007Q4 us-gaap Sale Leaseback Transaction Net Proceeds Financing Activities
SaleLeasebackTransactionNetProceedsFinancingActivities
61000000
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109000000
CY2007Q4 nbix Sale Leaseback Transaction Lease Period
SaleLeasebackTransactionLeasePeriod
P12Y
CY2007Q4 nbix Number Of Buildings Leased
NumberOfBuildingsLeased
2 Building
CY2015Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
270700000
CY2014Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2600000 shares
CY2014Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
900000 shares
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.18
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
75879000 shares
CY2014Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-13313000
CY2014Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3000
CY2014Q2 us-gaap Licenses Revenue
LicensesRevenue
0
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-14361000
CY2014Q2 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
5000
CY2014Q2 us-gaap Revenues
Revenues
0
CY2014Q2 us-gaap Investment Income Net
InvestmentIncomeNet
167000
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
980000
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
-13381000
CY2014Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
68000
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
14361000
CY2014Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4200000
CY2014Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2900000
CY2014Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10161000
CY2014Q2 nbix Deferred Gain On Sale Of Real Estate
DeferredGainOnSaleOfRealEstate
805000
CY2014Q2 nbix Cease Use Liability Payment
CeaseUseLiabilityPayment
102000
CY2014Q2 nbix Change In Estimate On Cease Use Liability
ChangeInEstimateOnCeaseUseLiability
0
CY2015Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4100000 shares
CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.28
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
85518000 shares
CY2015Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-24212000
CY2015Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0
CY2015Q2 us-gaap Licenses Revenue
LicensesRevenue
0
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-25322000
CY2015Q2 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
0
CY2015Q2 us-gaap Revenues
Revenues
0
CY2015Q2 us-gaap Investment Income Net
InvestmentIncomeNet
506000
CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1335000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-23987000
CY2015Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-225000
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
25322000
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6603000
CY2015Q2 us-gaap Allocated Share Based Compensation Expense
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4700000
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
18719000
CY2015Q2 nbix Deferred Gain On Sale Of Real Estate
DeferredGainOnSaleOfRealEstate
829000
CY2015Q2 nbix Cease Use Liability Payment
CeaseUseLiabilityPayment
152000
CY2015Q2 nbix Change In Estimate On Cease Use Liability
ChangeInEstimateOnCeaseUseLiability
-87000

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