Tranzyme Pharma Announces Second Quarter 2012 Financial Results

Financial Tables Follow

Tranzyme, Inc.
Consolidated Statements of Comprehensive Income
(Unaudited)
(In thousands, except share and per share amounts)
	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2012	2011	2012	2011
Licensing and royalty revenue	$ 1,340	$ 1,874	$ 2,783	$ 3,771
Research revenue	1,071	1,097	2,236	1,539
Total revenue	2,411	2,971	5,019	5,310
Operating expenses:
Research and development	5,535	5,681	13,675	10,182
General and administrative	1,880	1,285	3,828	2,256
Total operating expenses	7,415	6,966	17,503	12,438
Operating loss	(5,004)	(3,995)	(12,484)	(7,128)
Interest expense, net	(624)	(399)	(1,056)	(819)
Other income (expense), net	19	(13)	(489)	175
Net income (loss)	$ (5,609)	$ (4,407)	$ (14,029)	$ (7,772)
Net income (loss) per share— basic and diluted	$ (0.23)	$ (0.19)	$ (0.57)	$ (0.67)
Shares used to compute net loss per share— basic and diluted	24,607,888	23,217,146	24,604,595	11,610,927
Other comprehensive income (loss):
Net income (loss)	$ (5,609)	$ (4,407)	$ (14,029)	$ (7,772)
Foreign currency translation adjustment	(62)	(22)	(42)	13
Comprehensive income (loss)	$ (5,671)	$ (4,429)	$ (14,071)	$ (7,759)

Tranzyme, Inc.
Consolidated Balance Sheets
(Unaudited)
(In thousands, except share and per share amounts)
	June 30,	December 31,
	2012	2011
Assets
Current assets:
Cash and cash equivalents	$ 36,387	$ 40,930
Accounts receivable, net	170	656
Investment tax credits receivable	456	838
Prepaid expenses and other assets	806	1,116
Total current assets	37,819	43,540
Investment tax credits receivable	189	--
Furniture, fixtures and equipment, net	1,069	1,171
Total assets	$ 39,077	$ 44,711
Liabilities and stockholders' deficit
Current liabilities:
Accounts payable	$ 2,670	$ 1,971
Accrued liabilities	2,070	1,549
Current portion of deferred revenue	2,930	5,574
Current portion of notes payable	2,169	238
Total current liabilities	9,839	9,332
Notes payable, less current portion	17,517	10,734
Other long-term liabilities	146	163
Total liabilities	27,502	20,229
Total stockholders' equity (deficit)	11,575	24,482
Total liabilities and stockholders' equity	$ 39,077	$ 44,711

CONTACT: Corporate Inquiries:
         Susan Sharpe
         Director, Corporate Communications
         [phone]
         [e-mail]
         
         Investor Inquiries:
         David Carey
         Lazar Partners, Ltd.
         [phone]
         [e-mail]

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