2013 Q4 Form 10-Q Financial Statement

#000110465913080831 Filed on November 05, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $5.750M $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.650M $4.680M $5.380M
YoY Change -20.51% -13.01% 5.91%
% of Gross Profit
Research & Development $18.05M $17.57M $20.19M
YoY Change -8.65% -12.94% 16.57%
% of Gross Profit
Depreciation & Amortization $650.0K $640.0K $640.0K
YoY Change 3.17% 0.0% 25.49%
% of Gross Profit
Operating Expenses $22.69M $17.57M $20.19M
YoY Change -11.44% -12.94% 16.57%
Operating Profit -$23.93M -$25.57M
YoY Change -6.41% 41.73%
Interest Expense $80.00K $110.0K $110.0K
YoY Change -42.86% 0.0% 2650.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$16.86M -$23.82M -$25.46M
YoY Change -33.8% -6.44% 42.0%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$16.86M -$23.82M -$25.46M
YoY Change -33.8% -6.44% 42.0%
Net Earnings / Revenue -293.22%
Basic Earnings Per Share -$0.36
Diluted Earnings Per Share -$192.8K -$272.4K -$0.36
COMMON SHARES
Basic Shares Outstanding 87.43M shares 71.64M shares
Diluted Shares Outstanding 71.64M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $212.0M $230.9M $183.9M
YoY Change -28.92% 25.56% -30.79%
Cash & Equivalents $20.85M $16.00M $26.80M
Short-Term Investments $191.1M $214.9M $157.1M
Other Short-Term Assets $2.400M $2.100M $2.700M
YoY Change -42.86% -22.22% -6.9%
Inventory
Prepaid Expenses
Receivables $5.750M
Other Receivables $0.00
Total Short-Term Assets $220.1M $233.0M $186.6M
YoY Change -27.24% 24.85% -30.52%
LONG-TERM ASSETS
Property, Plant & Equipment $4.455M $4.938M $5.861M
YoY Change -23.53% -15.75% 12.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.528M $1.586M $1.826M
YoY Change -13.13% -13.14% -10.93%
Total Long-Term Assets $5.983M $6.524M $7.687M
YoY Change -21.12% -15.13% 5.69%
TOTAL ASSETS
Total Short-Term Assets $220.1M $233.0M $186.6M
Total Long-Term Assets $5.983M $6.524M $7.687M
Total Assets $226.1M $239.5M $194.3M
YoY Change -27.09% 23.27% -29.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.903M $1.025M $1.388M
YoY Change 129.99% -26.15% 8.86%
Accrued Expenses $5.200M $6.200M $8.700M
YoY Change -46.94% -28.74% 24.29%
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 $10.29M $8.303M $10.59M
YoY Change -15.65% -21.56% 25.68%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $74.00K $80.00K $102.0K
YoY Change -22.92% -21.57% -17.07%
Total Long-Term Liabilities $74.00K $80.00K $102.0K
YoY Change -22.92% -21.57% -17.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.29M $8.303M $10.59M
Total Long-Term Liabilities $74.00K $80.00K $102.0K
Total Liabilities $10.37M $8.383M $10.69M
YoY Change -15.71% -21.56% 25.07%
SHAREHOLDERS EQUITY
Retained Earnings -$849.3M -$832.4M -$734.8M
YoY Change 11.71% 13.29% 15.6%
Common Stock $1.057B $1.056B $909.5M
YoY Change 0.78% 16.08% 1.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $208.3M $223.4M $174.8M
YoY Change
Total Liabilities & Shareholders Equity $226.1M $239.5M $194.3M
YoY Change -27.09% 23.27% -29.56%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income -$16.86M -$23.82M -$25.46M
YoY Change -33.8% -6.44% 42.0%
Depreciation, Depletion And Amortization $650.0K $640.0K $640.0K
YoY Change 3.17% 0.0% 25.49%
Cash From Operating Activities -$18.90M -$20.75M -$19.63M
YoY Change -12.38% 5.71% 53.48%
INVESTING ACTIVITIES
Capital Expenditures -$170.0K -$120.0K -$390.0K
YoY Change -71.67% -69.23% -30.36%
Acquisitions
YoY Change
Other Investing Activities $23.67M $15.03M $19.46M
YoY Change -121.98% -22.76% -277.88%
Cash From Investing Activities $23.50M $14.91M $19.08M
YoY Change -121.7% -21.86% -266.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 230.0K 0.000 1.200M
YoY Change -99.83% -100.0% 5900.0%
NET CHANGE
Cash From Operating Activities -18.90M -20.75M -19.63M
Cash From Investing Activities 23.50M 14.91M 19.08M
Cash From Financing Activities 230.0K 0.000 1.200M
Net Change In Cash 4.830M -5.840M 650.0K
YoY Change -27.69% -998.46% -102.68%
FREE CASH FLOW
Cash From Operating Activities -$18.90M -$20.75M -$19.63M
Capital Expenditures -$170.0K -$120.0K -$390.0K
Free Cash Flow -$18.73M -$20.63M -$19.24M
YoY Change -10.68% 7.22% 57.32%

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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> </div>
us-gaap Basis Of Accounting
BasisOfAccounting
<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">2.</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">Basis of Presentation</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">Our accompanying unaudited condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP), for interim financial information and pursuant to the instructions to Form&#160;10-Q and Article&#160;10 of Regulation S-X of the Securities Act of 1933, as amended (Securities Act). Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. These unaudited condensed financial statements include only normal and recurring adjustments that we believe are necessary to fairly state our financial position and the results of our operations and cash flows. Interim-period results are not necessarily indicative of results of operations or cash flows for a full-year or any subsequent interim period. The balance sheet at December&#160;31, 2012 has been derived from audited financial statements at that date, but does not include all disclosures required by U.S. GAAP for complete financial statements. Because all of the disclosures required by U.S. GAAP for complete financial statements are not included herein, these interim unaudited condensed financial statements and the notes accompanying them should be read in conjunction with our audited financial statements and the notes thereto included in our Annual Report on Form&#160;10-K for the year ended December&#160;31, 2012.</font></p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;">&#160;</p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results could differ from these estimates.</font></p> </div>
CY2013Q3 us-gaap Restructuring Charges
RestructuringCharges
1679000 USD
us-gaap Restructuring Charges
RestructuringCharges
1679000 USD
CY2013Q3 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.18 pure
CY2013Q3 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
30 item
rigl Share Based Compensation Arrangement By Share Based Payment Award Exercise Period Of Vested Options For Terminated Employees Excluding Employee Covered Under Restructuring
ShareBasedCompensationArrangementByShareBasedPaymentAwardExercisePeriodOfVestedOptionsForTerminatedEmployeesExcludingEmployeeCoveredUnderRestructuring
P90D
rigl Number Of Terminated Employees Whose Vesting Period For Unvested Stock Option Accelerated
NumberOfTerminatedEmployeesWhoseVestingPeriodForUnvestedStockOptionAccelerated
1 item
CY2013Q3 us-gaap Supplemental Unemployment Benefits Continuation Of Health Care
SupplementalUnemploymentBenefitsContinuationOfHealthCare
171000 USD
CY2013Q3 us-gaap Payments For Restructuring
PaymentsForRestructuring
1500000 USD

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