CADUS PHARMACEUTICAL CORPORATION
Condensed Balance Sheets
ASSETS
September 30, December 31,
2001 2000
(Unaudited) (Audited)
Current Assets
Cash and cash equivalents $24,653,120 $24,383,352
Prepaid and other current assets 125,722 81,250
Total current assets 24,778,842 24,464,602
Investment in other ventures 166,333 162,528
Other assets, net 1,010,848 1,081,527
Total assets $25,956,023 $25,708,657
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accrued expenses and other current liabilities $151,896 $36,244
Total current liabilities 151,896 36,244
Total liabilities 151,896 36,244
Stockholders' equity
Common stock 132,857 132,857
Additional paid-in capital 59,844,355 59,844,355
Accumulated deficit (33,873,010) (34,004,724)
Treasury stock (300,075) (300,075)
Total stockholders' equity 25,804,127 25,672,413
Total liabilities and stockholders' equity $25,956,023 $25,708,657
CADUS PHARMACEUTICAL CORPORATION
Condensed Statements of Income
(Unaudited)
Three Months Ended
September 30,
2001 2000
License and maintenance fees $-- $23,470
Total revenues -- 23,470
Costs and expenses:
General and administrative expenses 163,639 251,701
(Gain) loss of equity in other ventures (1,826) 126,418
Total costs and expenses 161,813 378,119
Operating loss (161,813) (354,649)
Other Income
Interest income 185,346 71,394
Gain on reversal of litigation
judgment, net of legal fees -- 18,841,489
Total other income 185,346 18,912,883
Income before income taxes 23,533 18,558,234
Income taxes -- (16,181)
Net income $23,533 $18,574,415
Basic and diluted net income per share $0.00 $1.41
Weighted average shares of common
stock outstanding - basic and diluted 13,144,040 13,144,040
CADUS PHARMACEUTICAL CORPORATION
Condensed Statements of Income
(Unaudited)
Nine Months Ended
September 30,
2001 2000
License and maintenance fees $100,000 $723,470
Total revenues 100,000 723,470
Costs and expenses
General and administrative expenses 812,547 1,451,793
(Gain) loss of equity in other ventures (3,805) 840,656
(Gain) on sale of equipment -- (100,000)
Total costs and expenses 808,742 2,192,449
Operating loss (708,742) (1,468,979)
Other Income
Interest income 714,840 214,735
Net reimbursement of SIBIA litigation costs 125,616 --
Gain on reversal of litigation
judgment, net of legal fees -- 18,841,489
Total other income 840,456 19,056,224
Income before income taxes 131,714 17,587,245
Income taxes -- (16,181)
Net income $131,714 $17,603,426
Basic and diluted net income per share $0.01 $1.34
Weighted average shares of common
stock outstanding - basic and diluted 13,144,040 13,130,140
SOURCE: Cadus Pharmaceutical Corporation |
