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Exelixis Announces Fourth Quarter And Full Year 2012 Financial Results

Exelixis and the Exelixis logo are registered U.S. trademarks.

 

EXELIXIS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

       
Three Months Ended

December 31,

Year Ended

December 31,

2012     2011 2012     2011

(unaudited)

Revenues:

 

Contract $ 3,802 $ 15,549 $ 20,736 $ 41,309
License 4,012 77,565 26,714 245,549
Collaboration reimbursement   195     2,778  
Total revenues 7,814   93,309   47,450   289,636  
Operating expenses:
Research and development 32,492 30,778 128,878 156,836
General and administrative 9,829 7,009 31,837 33,129
Restructuring charge 7,467   3,948   9,171   10,136  
Total operating expenses 49,788   41,735   169,886   200,101  
(Loss) income from operations (41,974 ) 51,574 (122,436 ) 89,535
Other income (expense), net:
Interest income and other, net 1,168 (16 ) 1,986 1,462
Interest expense (11,313 ) (4,010 ) (27,088 ) (16,259 )
Gain on sale of business   44     2,254  
Total other income (expense), net (10,145 ) (3,982 ) (25,102 ) (12,543 )
(Loss) income before income taxes (52,119 ) 47,592 (147,538 ) 76,992
Income tax provision 74   1,295   107   1,295  
Net (loss) income $ (52,193 ) $ 46,297   $ (147,645 ) $ 75,697  
Net (loss) income per share, basic $

(0.28

)

$ 0.35   $

(0.92

)

$ 0.60  
Net (loss) income per share, diluted $

(0.28

)

$ 0.35   $

(0.92

)

$ 0.58  
Shares used in computing basic net (loss) income per share 183,605   133,795   160,138   126,018  
Shares used in computing diluted net (loss) income per share 183,605   133,936   160,138   130,479  
 

EXELIXIS, INC.

CONDENSED CONSOLIDATED BALANCE SHEET DATA (1)

(in thousands)

       
December 31,

2012

December 31,

2011

 

Cash and investments (2) $ 633,961 $ 283,721
Working capital $ 350,837 $ 136,499
Total assets $ 721,097 $ 393,262
Total stockholders' equity $ 296,434 $ 90,632
 

(1) Derived from the audited consolidated financial statements.

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