Acura Pharmaceuticals Reports 3rd Qtr 2010 Financial Results And Product Development Update

 

ACURA PHARMACEUTICALS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
	(Unaudited)	(Audited)
	September  30,	December 31,
	2010	2009
Current assets	$ 26,314	$ 30,757
Property, plant and equipment, net	1,077	1,160
Total assets	$ 27,391	$ 31,917
Other current liabilities	$  622	$  452
Deferred program fee revenue - current	700	1,555
Stockholders' equity	26,069	29,910
Total liabilities and stockholders' equity	$ 27,391	$ 31,917

ACURA PHARMACEUTICALS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
	(Unaudited) Nine Months Ended September 30,		(Unaudited) Three Months  Ended September 30,
	2010	2009	2010	2009
Revenue
Program fee revenue	$   855	$    2,688	$   233	$ 583
Collaboration revenue	2,097	397	59	225
Total revenue	2,952	3,085	292	808
Operating expense
Research and development expense	5,714	3,828	1,142	1,494
Marketing, general and administrative expense	7,025	8,680	1,716	3,284
Total operating expense	12,739	12,508	2,858	4,778
Loss from operations	(9,787)	(9,423)	(2,566)	(3,970)
Other income, net	17	131	15	20
Loss before income tax	(9,770)	(9,292)	(2,551)	(3,950)
Income tax expense	10	2,459	2	4
Net loss	$ (9,780)	$ (11,751)	$ (2,553)	$ (3,954)
Loss per share - basic and diluted	$ (0.21)	$ (0.26)	$ (0.05)	$  (0.09)
Weighted average shares - basic and diluted	46,992	45,839	47,100	45,992

CONTACT: Acura Pharmaceuticals
         Peter A. Clemens, SVP & CFO
         847-705-7709

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