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!

Dyax Corp. Announces Third Quarter 2013 Financial Results

Stocks in this article: DYAX

Dyax, the Dyax logo and KALBITOR are registered trademarks of Dyax Corp.

DYAX CORP.
SELECTED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
                   
Three Months Ended Nine Months Ended
September 30, September 30,
2013 2012 2013 2012
(In thousands, except share and per share data)
Revenues:
Product sales, net $ 10,772 $ 10,814 $ 27,927 $ 27,988
Development and license fee revenues $ 2,919   $ 2,287   $ 9,140   $ 10,632  
Total revenues, net $ 13,691   $ 13,101   $ 37,067   $ 38,620  
 
Costs and expenses:
Cost of product sales 720 493 1,991 1,447
Research and development expenses 8,105 6,158 23,226 22,664
Selling, general and administrative expenses 8,507 9,117 29,804 29,872
Restructuring costs - - - 1,440
       
Total costs and expenses   17,332     15,768     55,021     55,423  
 
Loss from operations (3,641 ) (2,667 ) (17,954 ) (16,803 )
 
Other income (expense):
Interest and other income 199 5 206 22
Interest and other expense   (2,746 )   (2,548 )   (8,065 )   (7,650 )
Total other expense (2,547 ) (2,543 ) (7,859 ) (7,628 )
 
Net loss $ (6,188 ) $ (5,210 ) $ (25,813 ) $ (24,431 )
 
Net loss attributable to common stockholders $ (6,188 ) $ (5,210 ) $ (25,813 ) $ (24,431 )
 
Net loss per share attributable to
common stockholders, basic and diluted $ (0.06 ) $ (0.05 ) $ (0.25 ) $ (0.25 )
 
Shares used in computing basic and diluted net loss
per share for common stockholders   109,731,276     99,069,928     104,821,199     98,896,984  
 

SELECTED CONSOLIDATED CONDENSED BALANCE SHEET INFORMATION

(Unaudited)

       

September 30,

December 31,

2013

2012

(In thousands)

Assets

 
Cash, cash equivalents and investments $ 47,143 $ 29,046
Accounts receivable, net 6,215 7,507
Inventory 8,664 9,989
Fixed assets 5,139 5,329
Restricted cash 1,100 1,100
Other assets 2,378 2,515
   
Total assets $ 70,639   $ 55,486  
 

Liabilities and Stockholders' Deficit

 
Accounts payable and other current liabilities $ 13,866 $ 13,146
Deferred revenue 10,470 11,851
Note payable and other long-term debt 81,933 78,992
Other long-term liabilities 3,172 3,057
   
Total liabilities   109,441     107,046  
 
Common and preferred stock and additional paid-in capital 493,194 454,620
Accumulated deficit and other comprehensive income (531,996 ) (506,180 )
   
Total stockholders' deficit   (38,802 )   (51,560 )
   
Total liabilities and stockholders' deficit $ 70,639   $ 55,486  
 




5 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
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!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • 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