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Exelixis Announces Second Quarter 2013 Financial Results

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

 

EXELIXIS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

(unaudited)

   

Three Months Ended June 30,

Six Months Ended June 30,

2013     2012   2013     2012  
Revenues:
License and contract revenues $ 7,813 $ 7,813 $ 15,626 $ 26,323
Net product revenues 4,043     5,899    
Total revenues 11,856   7,813   21,525   26,323  
 
Operating expenses:
Cost of goods sold 285 565
Research and development 49,077 32,610 81,812 65,706
Selling, general and administrative 13,180 6,760 23,725 14,665
Restructuring charge 609   1,166   728   971  
Total operating expenses 63,151   40,536   106,830   81,342  
 
Loss from operations (51,295 ) (32,723 ) (85,305 ) (55,019 )
 
Other income (expense), net:
Interest income and other, net 373 340 711 500
Interest expense (11,239 ) (4,092 ) (22,296 ) (8,096 )
Total other income (expense), net (10,866 ) (3,752 ) (21,585 ) (7,596 )
 
Loss before income taxes (62,161 ) (36,475 ) (106,890 ) (62,615 )
Income tax provision   12     23  
 
Net loss $ (62,161 ) $ (36,487 ) $ (106,890 ) $ (62,638 )
 
Net loss per share, basic and diluted $ (0.34 ) $ (0.25 ) $ (0.58 ) $ (0.43 )
 
Shares used in computing basic and diluted net loss per share 183,981   148,654   183,861   145,297  
 

EXELIXIS, INC.

CONDENSED CONSOLIDATED BALANCE SHEET DATA

(in thousands)

   

      June 30,      

December 31,
2013 2012 (1)
(unaudited)
Cash and investments (2) $ 524,267 $ 633,961
 
Working capital $ 300,356 $ 350,837
 
Total assets $ 612,084 $ 721,097
 
Total stockholders' equity $ 196,332 $ 296,434
 

(1) Derived from the audited consolidated financial statements.

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