12 months running figures.
Oct-Sept July-June Apr-Mar 2002 2001 2000
Revenue 0,0 0,0 0,0 0,0 0,0 0,0
Contract rev. etc 13,8 14,4 14,5 19,3 34,1 26,6
Total revenue 13,8 14,4 14,5 19,3 34,1 26,6
Cost of Revenue
Gross Profit 13,8 14,4 14,5 19,3 34,1 26,6
S,G & A -30,0 -31,1 -31,8 -31,6 -19,4 -8,9
R&D -98,9 -102,5 -120,7 -128,5 -96,2 -50,1
Depr. /Amort -7,2 -7,2 -7,2 -7,3 -8,6 -4,0
Other op. Expenses -65,0 -54,7 -13,4 -2,2 -5,2
Total op. Expenses -201,1 -195,5 -173,1 -169,6 -124,2 -68,2
Operating Income -187,4 -181,1 -158,6 -150,3 -90,1 -41,6
Interest, net 7,4 10,9 12,8 15,3 29,2 32,8
Other, net -2,2 -2,2 -39,7 -73,9 0,0
Total Non-op 5,2 8,7 -26,9 -58,6 29,2 32,8
NI before taxes -182,2 -172,4 -185,5 -208,9 -60,9 -8,8
Prov. Taxes -0,1 -0,1 -0,1
NI after taxes -182,3 -172,5 -185,6 -208,9 -60,9 -8,8
Some comments:
The operating costs seem to be very high. The company has been running at a 30 mUSD rate for General and Administrative costs since 2002. How can they spend so much on what should be a fairly simple operation?
R&D at 100 mUSD seems also very high as there is not much going on in the clinics apart from 50 % of ABX-EGF.
Other operating expenses refers mainly to costs for their plant-to-be.
Erik |
