MGI PHARMA, INC.
Statements of Operations
(Unaudited)
Three Months Ended March 31,
2000 2001
Revenues:
Sales $4,566,295 $6,984,108
Promotion 250,000 0
Licensing 361,056 591,669
5,177,351 7,575,777
Costs and Expenses:
Cost of sales 304,071 789,353
Selling, general and administrative 3,520,584 6,492,775
Research and development 1,804,218 3,553,818
Amortization 0 295,494
5,628,873 11,131,440
Loss before interest and taxes (451,522) (3,555,663)
Interest income 372,846 436,166
Loss before taxes (78,676) (3,119,497)
Provision for income taxes 61,279 0
Loss before cumulative effect
of change in accounting principle (139,955) (3,119,497)
Cumulative effect of change in
accounting principle (9,402,643) 0
Net loss $(9,542,598) $(3,119,497)
Net loss per common share:
Basic
Loss before effect of accounting change $(0.01) $(0.19)
Cumulative effect of accounting change (0.62) 0.00
Net loss $(0.63) $(0.19)
Assuming dilution
Loss before effect of accounting change $(0.01) $(0.19)
Cumulative effect of accounting change (0.62) 0.00
Net loss $(0.63) $(0.19)
Weighted average number of
common shares:
Basic 15,217,199 16,532,670
Assuming dilution 15,217,199 16,532,670
Balance Sheet Data
(Unaudited)
December 31, March 31,
2000 2001
Cash and short-term investments $29,898,787 $23,884,961
Total assets 52,743,570 48,612,974
Total stockholders' equity 26,045,617 23,918,230
SOURCE MGI PHARMA, INC.
CONTACT: Maggie P. Knack, Director, Investor Relations of MGI PHARMA, INC., 952-346-4771, IR@mgipharma.com / |
