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Trius Therapeutics Reports 2012 Fourth Quarter And Full Year 2012 Financial Results

 

Trius Therapeutics, Inc.   Statements of Operations (In thousands except per share data)  
     
  Three Months Ended December 31, Year Ended December 31,  
  2012   2011   2012   2011  
  (Unaudited) (Unaudited)
Revenues:        
Collaboration and license fees $ 4,131 $ 1,484 $ 18,659  $ 28,925 
Contract research  1,025  3,517  8,526   12,086 
         
Total revenues  5,156  5,001  27,185   41,011 
         
Operating expenses:        
Research and development  16,466  13,782  69,023   49,503 
General and administrative  4,653  2,788  15,395   11,339 
         
Total operating expenses  21,119  16,570  84,418   60,842 
         
Loss from operations (15,963)  (11,569 )  (57,233 )  (19,831 )
         
Other income (expense):        
Interest income  13  3  33   21 
Fair value adjustment of stock warrant liability  1,723  (946 )  3,276   1,558 
Other income (expense)  (1)   1  (4)  2 
         
Total other income (expense)  1,735  (942 )  3,305  1,581
         
Net loss $ (14,228) $ (12,511 ) $ (53,928 ) $ (18,250 )
Net loss per share, basic and diluted $ (0.36) $ (0.44 ) $ (1.42 ) $ (0.69 )
Weighted-average shares outstanding, basic and diluted  39,618  28,597  38,083   26,517 
 
 
 
Trius Therapeutics, Inc.   Balance Sheets (In thousands except share and per share data)
     
  December 31, 2012   December 31, 2011  
  (unaudited)  
Assets    
Current assets:    
Cash and cash equivalents $ 16,370 $ 11,381
Short-term investments, available-for-sale  49,659  47,762
Accounts receivable  5,698  4,272
Prepaid expenses and other current assets  2,254  3,272
Total current assets  73,981  66,687
Property and equipment, net  990  1,037
Restricted cash 151  150
Other assets  152  251
Total assets $ 75,274 $ 68,125
     
Liabilities and stockholders' equity    
Current liabilities:    
Accounts payable $ 6,761 $ 3,774
Accrued liabilities  7,762  6,959
Common stock warrant liability 3,848  7,124
Current portion of deferred revenue  116  377
Total liabilities  18,487  18,234
     
Stockholders' equity:    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized at December 31, 2012 and December 31, 2011; no shares issued and outstanding at December 31, 2012 and December 31, 2011  —  —
Common stock, $0.0001 par value; 200,000,000 shares authorized at December 31, 2012 and December 31, 2011; 40,661,360 and 28,663,548 shares issued and outstanding at December 31, 2012 and December 31, 2011, respectively  5  4
Additional paid-in capital  206,093  145,272
Accumulated other comprehensive income  9  7
Accumulated deficit (149,320)  (95,392)
Total stockholders' equity  56,787  49,891
Total liabilities and stockholders' equity $ 75,274 $ 68,125
CONTACT: Public Relations Contact:
         Laura Kempke/Andrew Law at MSLGROUP
         trius@mslgroup.com
         781-684-0770
         
         Investor Relations Contact:
         Stefan Loren at Westwicke Partners, LLC
         sloren@westwicke.com
         443-213-0507

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