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Acura Pharmaceuticals Reports Second Quarter 2010 Financial Results

 

ACURA PHARMACEUTICALS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
  (Unaudited) (Audited)
  June  30, December 31,
  2010 2009
Current assets $ 27,839 $ 30,757
Property, plant and equipment, net  1,094  1,160
 Total assets $ 28,933 $ 31,917
     
Other current liabilities $  576 $  452
Deferred program fee revenue - current   933  1,555
Stockholders' equity  27,424  29,910
 Total liabilities and stockholders' equity $ 28,933 $ 31,917

 
ACURA PHARMACEUTICALS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data)
  (Unaudited) Six Months Ended June 30, (Unaudited) Three Months  Ended June 30,
  2010 2009  2010 2009
Revenue        
 Program fee revenue $   622 $    2,105 $  233 $ 842
 Collaboration revenue 2,038 172 387 55
Total revenue 2,660 2,277 620 897
         
Operating expense        
 Research and development expense 4,572 2,334 1,525 1,205
 Marketing, general and administrative expense 5,309 5,396 2,281 2,948
 Total operating expense 9,881 7,730 3,806 4,153
 Loss from operations (7,221) (5,453) (3,186) (3,256)
Other income (expense), net 2 111 (3) 42
Loss before income tax (7,219) (5,342) (3,189) (3,214)
  Income tax expense 8 2,455 3 3,306
Net loss $ (7,227) $ (7,797) $ (3,192) $ (6,520)
         
Loss per share - basic and diluted $ (0.15) $ (0.17) $ (0.07) $  (0.14)
Weighted average shares - basic and diluted 46,937 45,762 47,016 45,813
CONTACT:  Acura Pharmaceuticals
          Peter A. Clemens, SVP & CFO
          847-705-7709

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