This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

VIVUS Reports 2012 Fourth Quarter And Full-Year Financial Results

Stocks in this article: VVUS

 

         
VIVUS, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
         
  Three Months Ended Years Ended
  December 31 December 31 December 31 December 31
  2012 2011 2012 2011*
  (unaudited) (unaudited) (unaudited)  
Revenue:        
Net product revenue  $ 1,971  $ --  $ 2,012  $ --
         
Operating expenses:        
Cost of goods sold 183  -- 187  --
Research and development  7,758  5,351  32,065  24,604
Selling, general and administrative  50,314  6,538  109,665  22,472
         
Total operating expenses  58,255  11,889  141,917  47,076
         
Loss from operations  (56,284)  (11,889)  (139,905)  (47,076)
         
Interest and other income, net  69  30  199  240
         
Loss from continuing operations before income taxes  (56,215)  (11,859)  (139,706)  (46,836)
         
Provision for income taxes  (14)  (184)  (27)  (190)
         
Loss from continuing operations  (56,229)  (12,043)  (139,733)  (47,026)
         
(Loss) income from discontinued operations  (430)  580  (148)  886
         
Net loss  $ (56,659)  $ (11,463)  $ (139,881)  $ (46,140)
         
Basic and diluted net income (loss) per share:        
Continuing operations  $ (0.56)  $ (0.14)  $ (1.42)  $ (0.56)
Discontinued operations  (0.00)  0.01  (0.00)  0.01
Net loss per share  $ (0.56)  $ (0.13)  $ (1.42)  $ (0.55)
         
Shares used in per share computation:        
Basic and diluted 100,626 88,921 98,289 84,392
         
*The Condensed Consolidated Statement of Operations at December 31, 2011 has been derived from the Company's audited financial statements at that date.
     
VIVUS, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except par value amount)
     
  December 31 December 31
  2012 2011*
  (unaudited)  
Current assets:    
Cash and cash equivalents  $ 58,605  $ 39,554
Available-for-sale securities  155,981  107,282
Accounts receivable, net  2,778  --
Inventories  25,353  3,107
Prepaid expenses and other assets  19,446  1,793
Total current assets  262,163  151,736
Property and equipment, net  1,951  320
Total assets  $ 264,114  $ 152,056
     
Current liabilities:    
Accounts payable  $ 25,375  $ 2,940
Accrued and other liabilities  13,777  6,392
Deferred revenue  1,150  --
Current liabilities of discontinued operations  903  1,640
Total current liabilities  41,205  10,972
     
Commitments and contingencies    
     
Stockholders' equity:    
Common stock and additional paid-in capital  709,022  487,324
Accumulated other comprehensive income  33  25
Accumulated deficit  (486,146)  (346,265)
Total stockholders' equity  222,909  141,084
Total liabilities and stockholders' equity  $ 264,114  $ 152,056
 
*The Condensed Consolidated Balance Sheet at December 31, 2011 has been derived from the Company's audited financial statements at that date.
CONTACT: Financial Media Relations:
         Joele Frank, Wilkinson Brimmer Katcher
         Eric Bonach
         ebonach@joelefrank.com
         212-355-4449
         
         Investor Relations:
         The Trout Group
         Brian Korb
         bkorb@troutgroup.com
         646-378-2923

5 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs