ZONAGEN, INC. AND SUBSIDIARY
(A development stage company)
CONSOLIDATED STATEMENTS OF OPERATIONS
Three Months Ended Twelve Months Ended
December 31, December 31,
1997 1996 1997 1996
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(unaudited)
Revenues
Product sales $ 998,729 $ 956,375 $ 3,455,876 $ 3,021,940
License revenue 10,000,000 - 10,000,000 -
Interest income 1,038,441 164,751 1,960,445 270,906
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Total revenues 12,037,170 1,121,126 15,416,321 3,292,846
Costs and expenses
Cost of products
sold 659,440 667,186 2,312,003 2,087,007
Research and
development 7,719,069 3,766,673 22,299,099 7,936,188
SG & A 1,720,679 650,534 3,756,305 2,515,509
Interest expense
and amortization
of intangibles 58,410 63,936 222,289 224,476
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Total expenses 10,157,598 5,148,329 28,589,696 12,763,180
Net income (loss) $ 1,879,572 $(4,027,203) $(13,173,375) $(9,470,334)
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Income (loss) per share
Basic $ 0.16 $ (0.74) $ (1.46) $ (1.92)
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Diluted $ 0.15 $ (0.74) $ (1.46) $ (1.92)
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Weighted average
common shares
outstanding
Basic 11,402,322 5,451,372 9,044,382 4,942,623
Diluted 12,352,650 5,451,372 9,044,382 4,942,623
CONSOLIDATED BALANCE SHEETS
December 31, 1997 December 31, 1996
Current assets $ 74,753,877 $ 11,810,347
Fixed assets, net 557,199 311,093
Other assets, net 1,629,404 1,590,320
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Total assets $ 76,940,480 $ 13,711,760
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Current liabilities $ 5,962,040 $ 2,117,984
Long-term notes payable 2,639 16,799
Shareholders' equity 70,975,801 11,576,977
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Total liabilities and
shareholders' equity $ 76,940,480 $ 13,711,760
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Contact:
Zonagen Inc., The Woodlands
Jean Anne Mire, 281/367-5892 |
