Acura Pharmaceuticals Announces Second Quarter 2018 Financial Results

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Contact:

Acura Investor Relations

investors@acurapharm.com

847-705-7709

 

                                          

ACURA PHARMACEUTICALS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

 (in thousands)

  September 30,

2018

December 31,

2017

    2018     2017  
Assets - current $455   $2,566  
Property, plant and equipment, net   623     679  
Other assets   1,204     1,359  
Total assets $2,282   $4,604  
     
Liabilities - current $2,000   $1,237  
Accrued interest - current portion   781     700  
Debt - current, net   1,016     2,694  
Accrued interest to related party - non-current   39     -  
Debt to related party - non-current, net   2,115     -  
Stockholders' deficit   (3,669)     (27)  
Total liabilities and stockholders' deficit $2,282   $4,604  

ACURA PHARMACEUTICALS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

 (in thousands, except per share amounts)

 
  Three Months Ended

September 30,

  Nine Months Ended

September 30,

    2018     2017       2018     2017  
Revenues:          
License fee revenue   $-     $-       $-   $2,500  
Collaboration revenue   -     23       -     59  
Royalty revenue   73     83       347     226  
Product sales, net   -     -       -     107  
Total revenues, net   73     83       347     2,892  
Cost and expenses:

 

 

 

 

 

Cost of sales   -     -       -     128  
Research and development   549     1,077       1,676     2,808  
Selling, marketing, general and administrative   543     1,068       2,332     3,427  
Total cost and expenses   1,092     2,145       4,008     6,363  
Operating loss   (1,019)     (2,062)       (3,661)     (3,471)  
Interest expense, net   (76)     (138)       (189)     (473)  
Loss before income taxes   (1,095)     (2,200)       (3,850)     (3,944)  
Provision for income taxes   -     -       -     -  
Net loss $(1,095)   $(2,200)     $(3,850)   $(3,944)  
           
           
Loss per share:          
Basic $(0.05)   $(0.12)     $(0.18)   $(0.27)  
Diluted $(0.05)   $(0.12)     $(0.18)   $(0.27)  
Weighted average number of shares outstanding:          
Basic   21,168     16,686       21,101     14,147  
Diluted   21,168     16,686       21,101     14,147  
           

Source : https://finance.yahoo.com/news/acura-pharmaceuticals-announces-third-quarter-211500994.html

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