This Day On The Street
Continue to site right-arrow
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!

Tranzyme Pharma Announces Fourth Quarter And Full-Year 2012 Financial Results

Stocks in this article: TZYM

On February 8, 2013, Tranzyme announced that its Board of Directors had made a determination to explore and evaluate strategic alternatives, including the possibility of a merger, sale, other form of business combination, or other transaction to maximize value to its stockholders. The Company has not made a decision to pursue any specific transaction or other strategic alternative, and there is no set timetable for the strategic review process. There can be no assurance that the exploration of strategic alternatives will result in the identification or consummation of any transaction. The Company does not intend to comment further regarding this process until such time as its Board of Directors has determined the outcome of the process or otherwise has deemed that disclosure is required or appropriate.

About Tranzyme Pharma

Tranzyme Pharma is a biopharmaceutical company focused on discovering, developing and commercializing novel, mechanism-based therapeutics. All of the Company's drug discovery activities are based on its proprietary small molecule macrocyclic template chemistry (MATCH™) technology, which has also been successfully used to generate drug candidates in partnership with other pharmaceutical companies. MATCH enables the rapid construct of synthetic libraries of drug-like, macrocyclic compounds in a predictable and efficient manner. By leveraging MATCH, Tranzyme is committed to pursuing first-in-class medicines to address areas of significant unmet medical need and continues to pursue funded drug discovery partnerships.

Forward-Looking Statements

Statements in this press release may include statements which are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act, which are usually identified by the use of words such as "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "seeks," "should," "will," and variations of such words or similar expressions. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act and are making this statement for purposes of complying with those safe harbor provisions. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation, risks related to enrollment and successful completion of our trials, risk of unforeseen side effects, risks related to our collaborations and risks related to regulatory approval of new drug candidates. Further information on these and other factors that could affect the company's financial results is contained in our public filings with the Securities and Exchange Commission (SEC) from time to time, including our Form 10-Q for the quarter ended September 30, 2012 which was filed with the SEC on November 9, 2012, and subsequent filings with the SEC. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Financial Tables Follow

Tranzyme, Inc.
Consolidated Statements of Comprehensive Income
(In thousands, except share and per share amounts)
  Three Months Ended December 31, Twelve Months Ended December 31,
  2012 2011 2012 2011
Licensing and royalty revenue  $ 1,234  $ 1,429  $ 5,247  $ 6,940
Research revenue 375 782 3,200 3,227
Total revenue 1,609 2,211 8,447 10,167
Operating expenses:        
Research and development 3,483 7,727 20,980 24,884
General and administrative 1,165 2,113 6,561 6,028
Total operating expenses 4,648 9,840 27,541 30,912
Operating loss (3,039) (7,629) (19,094) (20,745)
Interest expense, net (439) (377) (2,377) (1,589)
Other income (expense), net (1,387) (16) (1,373) 126
Net income (loss)  $ (4,865)  $ (8,022)  $ (22,844)  $ (22,208)
Net income (loss) per share— basic and diluted  $ (0.18)  $ (0.33)  $ (0.90)  $ (1.22)
Shares used to compute net loss per share— basic and diluted 27,600,437 24,569,866 25,465,978 18,140,863
Other comprehensive income (loss):        
Net income (loss)  $ (4,865)  $ (8,022)  $ (22,844)  $ (22,208)
Foreign currency translation adjustment (23) 14 18 (15)
Comprehensive income (loss)  $ (4,888)  $ (8,008)  $ (22,826)  $ (22,223)
Tranzyme, Inc.
Consolidated Balance Sheets
(In thousands, except share and per share amounts)
  December 31, 2012 December 31, 2011
Current assets:    
Cash and cash equivalents  $ 15,319  $ 40,930
Accounts receivable, net 152 656
Investment tax credits receivable 746 838
Prepaid expenses and other assets 369 1,116
Total current assets 16,586 43,540
Furniture, fixtures and equipment, net 942 1,171
Total assets  $ 17,528  $ 44,711
Liabilities and stockholders' equity    
Current liabilities:    
Accounts payable  $ 1,678  $ 1,971
Accrued liabilities 840 1,549
Current portion of deferred revenue 599 5,574
Current portion of notes payable -- 238
Total current liabilities 3,117 9,332
Notes payable, less current portion -- 10,734
Other long-term liabilities 137 163
Total liabilities 3,254 20,229
Total stockholders' equity 14,274 24,482
Total liabilities and stockholders' equity  $ 17,528  $ 44,711
CONTACT: Susan Sharpe
         Director, Corporate Communications
         (919) 328-1109

2 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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