$NBIX
NEUROCRINE BIOSCIENCES INC

2016 Q4 Form 10-Q Financial Statement

#000119312516757122 Filed on November 02, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue $0.00
YoY Change
Gross Profit $0.00
YoY Change
Gross Profit Margin
Selling, General & Admin $23.70M $17.49M $11.50M
YoY Change 166.29% 52.12% 144.68%
% of Gross Profit
Research & Development $22.60M $20.94M $24.39M
YoY Change 3.67% -14.13% 100.0%
% of Gross Profit
Depreciation & Amortization $500.0K $400.0K $200.0K
YoY Change 66.67% 100.0% 0.0%
% of Gross Profit
Operating Expenses $46.25M $38.44M $35.84M
YoY Change 50.42% 7.23% 112.64%
Operating Profit -$38.44M -$35.84M
YoY Change 7.23% 112.64%
Interest Expense $700.0K $0.00 $600.0K
YoY Change 16.67% -100.0% 200.0%
% of Operating Profit
Other Income/Expense, Net $900.0K $1.549M $1.409M
YoY Change 12.5% 9.94% 43.48%
Pretax Income -$44.70M -$36.90M -$34.40M
YoY Change 52.56% 7.27% 116.35%
Income Tax
% Of Pretax Income
Net Earnings -$44.66M -$36.89M -$34.44M
YoY Change 52.34% 7.12% 116.91%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$514.4K -$425.1K -$400.5K
COMMON SHARES
Basic Shares Outstanding 86.87M shares 86.75M shares 85.87M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $307.4M $353.0M $376.8M
YoY Change -18.93% -6.32% 109.68%
Cash & Equivalents $83.27M $99.76M $66.38M
Short-Term Investments $224.1M $253.3M $310.5M
Other Short-Term Assets $3.092M $4.849M $5.940M
YoY Change -36.68% -18.37% 41.63%
Inventory $0.00
Prepaid Expenses
Receivables $0.00
Other Receivables
Total Short-Term Assets $310.4M $357.9M $382.8M
YoY Change -19.17% -6.5% 108.18%
LONG-TERM ASSETS
Property, Plant & Equipment $6.271M $6.180M $2.874M
YoY Change 82.72% 115.03% 25.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $43.50M $30.20M $102.0M
YoY Change -47.27% -70.39% 52.01%
Other Assets $4.900M $4.900M $4.800M
YoY Change 2.08% 2.08% 9.09%
Total Long-Term Assets $54.64M $41.27M $109.7M
YoY Change -39.76% -62.36% 48.41%
TOTAL ASSETS
Total Short-Term Assets $310.4M $357.9M $382.8M
Total Long-Term Assets $54.64M $41.27M $109.7M
Total Assets $365.1M $399.2M $492.4M
YoY Change -23.1% -18.94% 91.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.085M $1.719M $1.197M
YoY Change 98.56% 43.61% 33.0%
Accrued Expenses $21.10M $20.75M $14.51M
YoY Change 10.84% 42.99% 55.95%
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 $30.41M $26.67M $19.82M
YoY Change 18.27% 34.53% 41.13%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $113.0K $113.0K $220.0K
YoY Change -48.87% -48.64% -15.38%
Total Long-Term Liabilities $113.0K $113.0K $220.0K
YoY Change -48.87% -48.64% -15.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.41M $26.67M $19.82M
Total Long-Term Liabilities $113.0K $113.0K $220.0K
Total Liabilities $50.21M $47.51M $45.49M
YoY Change -0.24% 4.43% 34.94%
SHAREHOLDERS EQUITY
Retained Earnings -$1.056B -$1.012B -$885.9M
YoY Change 15.42% 14.19% 9.8%
Common Stock $1.372B $1.364B $1.333B
YoY Change 2.3% 2.25% 1754467.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $314.9M $351.7M $446.9M
YoY Change
Total Liabilities & Shareholders Equity $365.1M $399.2M $492.4M
YoY Change -23.1% -18.94% 91.05%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$44.66M -$36.89M -$34.44M
YoY Change 52.34% 7.12% 116.91%
Depreciation, Depletion And Amortization $500.0K $400.0K $200.0K
YoY Change 66.67% 100.0% 0.0%
Cash From Operating Activities -$31.60M -$31.10M -$18.60M
YoY Change 107.89% 67.2% 53.72%
INVESTING ACTIVITIES
Capital Expenditures -$300.0K -$800.0K -$300.0K
YoY Change -62.5% 166.67% 0.0%
Acquisitions
YoY Change
Other Investing Activities $15.50M $44.00M -$47.60M
YoY Change -32.31% -192.44% -1460.0%
Cash From Investing Activities $15.20M $43.20M -$47.90M
YoY Change -31.22% -190.19% -1596.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 100.0K 1.300M 700.0K
YoY Change -90.0% 85.71% 40.0%
NET CHANGE
Cash From Operating Activities -31.60M -31.10M -18.60M
Cash From Investing Activities 15.20M 43.20M -47.90M
Cash From Financing Activities 100.0K 1.300M 700.0K
Net Change In Cash -16.30M 13.40M -65.80M
YoY Change -306.33% -120.36% 683.33%
FREE CASH FLOW
Cash From Operating Activities -$31.60M -$31.10M -$18.60M
Capital Expenditures -$300.0K -$800.0K -$300.0K
Free Cash Flow -$31.30M -$30.30M -$18.30M
YoY Change 117.36% 65.57% 55.08%

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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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ProceedsFromIssuanceOfCommonStock
2327000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1008000
us-gaap Operating Expenses
OperatingExpenses
116121000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
2327000
us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
-208000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
44413000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
0
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
13000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
878000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
25566000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20500000
us-gaap Share Based Compensation
ShareBasedCompensation
20511000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
318776000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
97795000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2300000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
71708000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-108000
nbix Lease Extension Period
LeaseExtensionPeriod
P10Y
nbix Subleased Agreement Area
SubleasedAgreementArea
16000 sqft
nbix Deferred Gain On Sale Of Real Estate
DeferredGainOnSaleOfRealEstate
2560000
nbix Lease Expiration Year
LeaseExpirationYear
2019
nbix Cease Use Liability Payment
CeaseUseLiabilityPayment
239000
nbix Increase Decrease In Cease Use Expense
IncreaseDecreaseInCeaseUseExpense
-584000
nbix Increase Decrease In Cease Use Liability
IncreaseDecreaseInCeaseUseLiability
-239000
nbix Change In Estimate On Cease Use Liability
ChangeInEstimateOnCeaseUseLiability
-830000
nbix Nonoperating Gain Loss On Disposition Of Assets
NonoperatingGainLossOnDispositionOfAssets
8000
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
CY2007Q4 us-gaap Sale Leaseback Transaction Gross Proceeds Investing Activities
SaleLeasebackTransactionGrossProceedsInvestingActivities
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
CY2015Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4200000 shares
CY2015Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000 shares
CY2015Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.40
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
85856000 shares
CY2015Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-34640000
CY2015Q3 us-gaap Licenses Revenue
LicensesRevenue
0
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-35844000
CY2015Q3 us-gaap Revenues
Revenues
0
CY2015Q3 us-gaap Investment Income Net
InvestmentIncomeNet
581000
CY2015Q3 us-gaap Sale Leaseback Transaction Current Period Gain Recognized
SaleLeasebackTransactionCurrentPeriodGainRecognized
800000
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
35844000
CY2015Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
11456000
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13900000
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
24388000
CY2015Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1409000
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-34435000
CY2015Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-205000
CY2015Q3 nbix Deferred Gain On Sale Of Real Estate
DeferredGainOnSaleOfRealEstate
828000
CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6300000
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20942000
CY2016Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
17494000
CY2016Q3 nbix Change In Estimate On Cease Use Liability
ChangeInEstimateOnCeaseUseLiability
0
CY2016Q3 nbix Nonoperating Gain Loss On Disposition Of Assets
NonoperatingGainLossOnDispositionOfAssets
-9000
CY2015Q3 nbix Cease Use Liability Payment
CeaseUseLiabilityPayment
175000
CY2015Q3 nbix Change In Estimate On Cease Use Liability
ChangeInEstimateOnCeaseUseLiability
0
CY2015Q3 nbix Nonoperating Gain Loss On Disposition Of Assets
NonoperatingGainLossOnDispositionOfAssets
0
CY2016Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000 shares
CY2016Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.43
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
86784000 shares
CY2016Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-37035000
CY2016Q3 us-gaap Licenses Revenue
LicensesRevenue
0
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-38436000
CY2016Q3 us-gaap Revenues
Revenues
0
CY2016Q3 us-gaap Investment Income Net
InvestmentIncomeNet
705000
CY2016Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1549000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-36887000
CY2016Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-148000
CY2016Q3 us-gaap Sale Leaseback Transaction Current Period Gain Recognized
SaleLeasebackTransactionCurrentPeriodGainRecognized
900000
CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
38436000
CY2016Q3 nbix Deferred Gain On Sale Of Real Estate
DeferredGainOnSaleOfRealEstate
853000
CY2016Q3 nbix Cease Use Liability Payment
CeaseUseLiabilityPayment
58000

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