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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