$RGLS
Regulus Therapeutics Inc.

2013 Q1 Form 10-K Financial Statement

#000119312513065164 Filed on February 19, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2011 Q4 2011 Q3
Revenue $3.238M $3.363M $3.809M
YoY Change -3.17%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.910M $770.0K $910.0K
YoY Change 107.61%
% of Gross Profit
Research & Development $6.883M $4.470M $3.875M
YoY Change 49.53%
% of Gross Profit
Depreciation & Amortization $289.0K $250.0K $230.0K
YoY Change 28.44%
% of Gross Profit
Operating Expenses $8.788M $5.238M $4.782M
YoY Change 59.06%
Operating Profit -$5.550M -$973.0K
YoY Change 154.59%
Interest Expense $70.00K -$60.00K $97.00K
YoY Change -24.73%
% of Operating Profit
Other Income/Expense, Net $0.00 $1.000K
YoY Change
Pretax Income -$7.239M -$1.940M -$1.041M
YoY Change 222.31%
Income Tax -$10.00K $80.00K $4.000K
% Of Pretax Income
Net Earnings -$7.229M -$2.015M -$1.045M
YoY Change 221.57%
Net Earnings / Revenue -223.26% -59.92% -27.44%
Basic Earnings Per Share -$0.20
Diluted Earnings Per Share -$0.20 -$33.67M -$105.0M
COMMON SHARES
Basic Shares Outstanding 35.88M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q1 2011 Q4 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $90.70M $38.10M
YoY Change
Cash & Equivalents $17.82M $9.175M $10.62M
Short-Term Investments $72.90M $29.00M
Other Short-Term Assets $1.100M $500.0K
YoY Change
Inventory
Prepaid Expenses
Receivables $0.00
Other Receivables $0.00
Total Short-Term Assets $91.77M $38.67M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $3.892M $3.110M
YoY Change
Goodwill
YoY Change
Intangibles $1.176M $980.0K
YoY Change
Long-Term Investments
YoY Change
Other Assets $190.0K $125.0K
YoY Change
Total Long-Term Assets $5.258M $4.215M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $91.77M $38.67M
Total Long-Term Assets $5.258M $4.215M
Total Assets $97.03M $42.88M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $398.0K $501.0K
YoY Change
Accrued Expenses $2.335M $943.0K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $400.0K
YoY Change
Total Short-Term Liabilities $12.69M $12.85M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $11.90M $10.40M
YoY Change
Other Long-Term Liabilities $804.0K $1.847M
YoY Change
Total Long-Term Liabilities $804.0K $1.847M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $12.69M $12.85M
Total Long-Term Liabilities $804.0K $1.847M
Total Liabilities $41.16M $41.68M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$67.65M -$43.01M
YoY Change
Common Stock $36.00K $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $55.87M -$41.49M
YoY Change
Total Liabilities & Shareholders Equity $97.03M $42.88M
YoY Change

Cashflow Statement

Concept 2013 Q1 2011 Q4 2011 Q3
OPERATING ACTIVITIES
Net Income -$7.229M -$2.015M -$1.045M
YoY Change 221.57%
Depreciation, Depletion And Amortization $289.0K $250.0K $230.0K
YoY Change 28.44%
Cash From Operating Activities -$7.155M -$5.480M $1.850M
YoY Change 39.53%
INVESTING ACTIVITIES
Capital Expenditures $77.00K -$250.0K $0.00
YoY Change -78.25%
Acquisitions
YoY Change
Other Investing Activities -$15.67M $4.390M -$6.030M
YoY Change -341.82%
Cash From Investing Activities -$15.75M $4.120M -$6.020M
YoY Change -357.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $85.00K
YoY Change 157.58%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 173.0K -80.00K -100.0K
YoY Change -333.78%
NET CHANGE
Cash From Operating Activities -7.155M -5.480M 1.850M
Cash From Investing Activities -15.75M 4.120M -6.020M
Cash From Financing Activities 173.0K -80.00K -100.0K
Net Change In Cash -22.73M -1.440M -4.270M
YoY Change -2567.97%
FREE CASH FLOW
Cash From Operating Activities -$7.155M -$5.480M $1.850M
Capital Expenditures $77.00K -$250.0K $0.00
Free Cash Flow -$7.232M -$5.230M $1.850M
YoY Change 31.92%

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CY2010 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2010 us-gaap Amortization Of Intangible Assets
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CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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CY2010 rgls Tenant Improvement Allowance
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CY2010 rgls Amounts Accrued For Patent Expenditures
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CY2011 us-gaap Increase Decrease In Deferred Liabilities
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CY2011 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2011 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2011 us-gaap Depreciation Depletion And Amortization
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CY2011 us-gaap Unrealized Loss On Securities
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CY2011 us-gaap Current Federal Tax Expense Benefit
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CY2011 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2011 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2011 us-gaap General And Administrative Expense
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CY2011 us-gaap Income Tax Reconciliation Prior Year Income Taxes
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333000
CY2011 us-gaap Operating Expenses
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CY2011 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2011 us-gaap Revenues
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CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2011 us-gaap Unrealized Gain On Securities
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CY2011 us-gaap Defined Contribution Plan Cost Recognized
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100000
CY2011 us-gaap Payments To Acquire Intangible Assets
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131000
CY2011 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2011 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2011 us-gaap Net Income Loss
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CY2011 us-gaap Income Tax Reconciliation Other Reconciling Items
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CY2011 us-gaap Income Tax Expense Benefit
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CY2011 us-gaap Interest Expense
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CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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CY2011 rgls Amounts Accrued For Patent Expenditures
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CY2011 rgls Net Amortization Of Premiums On Investment Securities
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551000
CY2012 dei Trading Symbol
TradingSymbol
RGLS
CY2012 dei Entity Registrant Name
EntityRegistrantName
REGULUS THERAPEUTICS INC.
CY2012 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2012 dei Amendment Flag
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false
CY2012 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2012 dei Document Fiscal Period Focus
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FY
CY2012 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2012 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012 dei Document Type
DocumentType
10-K
CY2012 dei Document Period End Date
DocumentPeriodEndDate
2012-12-31
CY2012 dei Entity Central Index Key
EntityCentralIndexKey
0001505512
CY2012 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
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--12-31
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CY2012 us-gaap Other Underwriting Expense
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CY2012 us-gaap Gain Loss On Disposition Of Assets
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CY2012 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2012 us-gaap Gain Loss On Investments
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28000
CY2012 us-gaap Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
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CY2012 us-gaap Depreciation Depletion And Amortization
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CY2012 us-gaap Unrealized Loss On Securities
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113000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
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CY2012 us-gaap Debt Conversion Converted Instrument Shares Issued1
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10813000
CY2012 us-gaap Defined Contribution Plan Maximum Annual Contribution Per Employee Percent
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0.06 pure
CY2012 us-gaap Concentration Risk Credit Risk
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CY2012 us-gaap Repayments Of Other Long Term Debt
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CY2012 us-gaap Depreciation And Amortization
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CY2012 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
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CY2012 us-gaap Revenues
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CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2012 us-gaap Interest Paid
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0.50 pure
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CY2012 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2012 us-gaap Income Tax Reconciliation Other Reconciling Items
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459000
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CY2012 us-gaap Proceeds From Convertible Debt
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CY2012 us-gaap Income Tax Expense Benefit
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CY2012 us-gaap Payments To Acquire Short Term Investments
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<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Use of Estimates</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Our financial statements are prepared in accordance with U.S. generally accepted accounting principles. The preparation of our financial statements requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities in our financial statements and accompanying notes. Although these estimates are based on our knowledge of current events and actions we may undertake in the future, actual results may ultimately differ from these estimates and assumptions.</font></p> </div>
CY2012 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
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100000
CY2012 us-gaap Fair Value Inputs Entity Credit Risk
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CY2012 us-gaap Increase Decrease In Accrued Liabilities
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CY2012 us-gaap Interest Expense
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CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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CY2012 rgls Total Deferred Income Tax Expense Benefit
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CY2012 rgls Deferred Tax Assets Operating Loss Carryforwards Expiration Year
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CY2012 rgls Lease Expiration Month And Year
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2017-06
CY2012 rgls Defined Contribution Plan Employee Contributions Percentage Of Eligible Compensation
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CY2012 rgls Tenant Improvement Allowance
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CY2012 rgls Federal Research Credits Carryforwards Expiration Year
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CY2012 rgls Income Tax Reconciliation Change In Fair Value Of Convertible Notes
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CY2012 rgls Accrued Interest Rate Percentage
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CY2012 rgls Debt Instruments Amendment Date
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CY2012 rgls Gain Loss From Valuation Of Convertible Note Payable
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CY2012 rgls Net Amortization Of Premiums On Investment Securities
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422000
CY2012 rgls Number Of Lease Extension Options
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CY2012 rgls Extension Period Of Operating Lease
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P3Y
CY2012 rgls Optional Lease Termination Date Month And Year
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CY2012 rgls Tenant Improvement Allowance Interest Rate Percentage
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0.065 pure
CY2012 rgls Income Tax Reconciliation Gain Loss On Extinguishment Of Debt
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692000
CY2012Q3 us-gaap Stockholders Equity Note Stock Split Conversion Ratio
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Revenues
3309000
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
-2599000
CY2011Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-11.68
CY2011Q3 us-gaap Operating Expenses
OperatingExpenses
4782000
CY2011Q3 us-gaap Revenues
Revenues
3809000
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
-1045000
CY2012Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-15.98
CY2012Q3 us-gaap Operating Expenses
OperatingExpenses
6341000
CY2012Q3 us-gaap Revenues
Revenues
2809000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
-5685000
CY2011Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-14.81
CY2011Q4 us-gaap Operating Expenses
OperatingExpenses
5238000
CY2011Q4 us-gaap Revenues
Revenues
3363000
CY2011Q4 us-gaap Net Income Loss
NetIncomeLoss
-2015000
CY2012Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.22
CY2012Q4 us-gaap Operating Expenses
OperatingExpenses
7541000
CY2012Q4 us-gaap Revenues
Revenues
3238000
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
-6876000

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