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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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