2013 Q2 Form 10-Q Financial Statement

#000110465913060306 Filed on August 06, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $1.400M $1.500M
YoY Change -6.67% 275.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.890M $5.460M
YoY Change -10.44% 12.81%
% of Gross Profit
Research & Development $19.39M $20.92M
YoY Change -7.32% 22.29%
% of Gross Profit
Depreciation & Amortization $630.0K $610.0K
YoY Change 3.28% 29.79%
% of Gross Profit
Operating Expenses $19.39M $20.92M
YoY Change -7.32% -4.67%
Operating Profit -$22.89M -$24.88M
YoY Change -8.03%
Interest Expense $120.0K $140.0K
YoY Change -14.29% 75.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$22.77M -$24.74M
YoY Change -7.96% 15.23%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$22.77M -$24.74M
YoY Change -7.96% 15.23%
Net Earnings / Revenue -1626.43% -1649.33%
Basic Earnings Per Share
Diluted Earnings Per Share -$261.3K -$346.2K
COMMON SHARES
Basic Shares Outstanding 87.14M shares 71.45M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $251.6M $202.6M
YoY Change 24.19% -27.41%
Cash & Equivalents $21.90M $26.15M
Short-Term Investments $229.8M $176.5M
Other Short-Term Assets $2.900M $3.700M
YoY Change -21.62% 5.71%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $254.6M $206.4M
YoY Change 23.35% -26.96%
LONG-TERM ASSETS
Property, Plant & Equipment $5.500M $6.100M
YoY Change -9.84% 17.31%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.600M $1.900M
YoY Change -15.79% -9.52%
Total Long-Term Assets $7.100M $8.000M
YoY Change -11.25% 9.59%
TOTAL ASSETS
Total Short-Term Assets $254.6M $206.4M
Total Long-Term Assets $7.100M $8.000M
Total Assets $261.7M $214.4M
YoY Change 22.06% -26.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.100M $1.900M
YoY Change 10.53% 26.67%
Accrued Expenses $5.400M $7.200M
YoY Change -25.0% 22.03%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.500M $9.500M
YoY Change -10.53% 21.79%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $8.200M $9.100M
YoY Change -9.89% -3.19%
Total Long-Term Liabilities $8.200M $9.100M
YoY Change -9.89% -3.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.500M $9.500M
Total Long-Term Liabilities $8.200M $9.100M
Total Liabilities $16.60M $18.60M
YoY Change -10.75% 8.14%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $245.1M $195.8M
YoY Change
Total Liabilities & Shareholders Equity $261.7M $214.4M
YoY Change 22.06% -26.04%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income -$22.77M -$24.74M
YoY Change -7.96% 15.23%
Depreciation, Depletion And Amortization $630.0K $610.0K
YoY Change 3.28% 29.79%
Cash From Operating Activities -$21.32M -$20.74M
YoY Change 2.8% 20.79%
INVESTING ACTIVITIES
Capital Expenditures -$250.0K -$820.0K
YoY Change -69.51% 17.14%
Acquisitions
YoY Change
Other Investing Activities $8.460M $24.79M
YoY Change -65.87% -123.33%
Cash From Investing Activities $8.200M $23.97M
YoY Change -65.79% -122.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 820.0K 880.0K
YoY Change -6.82% -99.38%
NET CHANGE
Cash From Operating Activities -21.32M -20.74M
Cash From Investing Activities 8.200M 23.97M
Cash From Financing Activities 820.0K 880.0K
Net Change In Cash -12.30M 4.110M
YoY Change -399.27% -76.16%
FREE CASH FLOW
Cash From Operating Activities -$21.32M -$20.74M
Capital Expenditures -$250.0K -$820.0K
Free Cash Flow -$21.07M -$19.92M
YoY Change 5.77% 20.95%

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<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.25in;"><b><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold;" size="2">1.</font></b><b><font style="FONT-SIZE: 3pt; FONT-WEIGHT: bold;" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></b> <b><font style="FONT-SIZE: 10pt; FONT-WEIGHT: bold;" size="2">Nature of Operations</font></b></p> <p style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.25in;">&#160;</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">We were incorporated in the state of Delaware on June&#160;14, 1996. We are engaged in the discovery and development of novel, small-molecule drugs for the treatment of inflammatory and autoimmune diseases, as well as muscle disorders.</font></p> <p style="MARGIN: 0in 0in 0pt;">&#160;</p> </div>
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