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Biotech / Medical : Neurocrine Biosciences (NBIX) -- Ignore unavailable to you. Want to Upgrade?

To: Icebrg who wrote (1143)	6/15/2003 8:54:21 AM
From: Icebrg	Read Replies (2) \| Respond to of 1834

Financial development - 12m figures. 2000 2001 2002 Q2/Q1 Revenue 14 588 41 242 18 045 50 804 CoG Gross Profit 14 588 41 242 18 045 50 804 R&D -40 227 -74 267 -108 939 -137 216 GSA -9 962 -10 857 -12 721 -14 734 Other costs Net op profit -35 601 -43 882 -103 615 -101 146 Financials 7 095 7 092 9 079 9 135 Tax -302 -120 -151 Net income -28 808 -36 910 -94 536 -92 162 Cash 164 670 319 982 244 710 308 239 L-T Debt Equity 163 208 310 393 224 254 215 213 Not much to comment here, really. Things look very good. I would have believed that we would see a reduction in the R&D costs as Pfizer has taken over the responsibility for the remaining Indiplon costs. But it seems as if these costs are still booked by Neurocrine and then invoiced to Pfizer labelled "Sponsored research and development". Taking this into account it appears as if the R&D costs are now running at about the 2001 level (i.e. 70-80 mUSD per year). NBIX should also have some credits for keeping General and Administrative costs down (relatively seen). It will be interesting to see how well they manage to continue to do so in their new financial climate. Erik