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Repros Therapeutics Inc.(R) Reports Fourth Quarter And Year End 2010 Financial Results

Stocks in this article: RPRX

As of December 31, 2010 we had 8,930,022 shares of common stock outstanding.


As of December 31, 2010, we had approximately $3.0 million in cash and cash equivalents and our accounts payable and accrued expenses were approximately $1.3 million. On February 8, 2011, we completed a public offering of our common stock, Series A Warrants to purchase common stock and Series B Warrants to purchase common stock which resulted in approximately $11 million in gross proceeds to us, after the underwriting discount and before offering expenses. We believe we have sufficient funding to complete all of the Phase 2 and 2B clinical trials currently planned or underway. However, significant additional capital will be required for us to complete development of either of our product candidates. Based on our existing and projected commitments, we believe we will need to raise additional capital by the end of the second quarter of 2012 in order to continue operations on a normal basis. However, if our expenses are greater than expected or our revenues are less than expected, we may be required to raise additional funds prior to that time. We believe we can secure additional cash resources through the sale of our equity securities; however, there can be no assurance that the Company will be able to raise sufficient capital.

About Repros Therapeutics Inc.

Repros Therapeutics Inc. focuses on the development of new drugs to treat hormonal and reproductive system disorders.

Any statements made by the Company that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including the ability to raise additional needed capital on a timely basis in order for it to continue its operations, have success in the clinical development of its technologies and such other risks which are identified in the Company's most recent Annual Report on Form 10-K and in any subsequent quarterly reports on Form 10-Q. These documents are available on request from Repros Therapeutics or at . Repros disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For more information, please visit the Company's website at .

The Repros Therapeutics Inc. logo is available at .

(in thousands except per share amounts)
  Three Months Ended Twelve Months Ended
  December 31, December 31,
  2010 2009 2010 2009
Interest income  $ --   $ --   $ --   $ 4
Other income  283  547  421  547
Total revenues  283  547  421  551
Research and development  954  1,298  2,904  23,062
General and administrative  513  596  2,285  4,723
Total expenses  1,467  1,894  5,189  27,785
Net loss  $ (1,184)  $ (1,347)  $ (4,768)  $ (27,234)
Net loss per share - basic and diluted  $ (0.13)  $ (0.23)  $ (0.59)  $ (6.28)
Weighted average shares used in loss per share calculation:        
Basic  8,930  5,863  8,057  4,336
Diluted  8,930  5,863  8,057  4,336
  December 31, 2010 December 31, 2009
Cash and cash equivalents  $ 2,957  $ 1,886
Other currents assets  328  177
Fixed assets (net)  7  12
Other assets (net)  1,173  885
Total assets  $ 4,465  $ 2,960
Accounts payable and accrued expenses   $ 1,298  $ 2,398
Stockholders' equity  3,167  562
Total liabilities and stockholders' equity  $ 4,465  $ 2,960
CONTACT: Joseph S. Podolski
         Chief Executive Officer
         (281) 719-3447

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