For all I know, HGSI might be a great deal now. Haven't looked at it in ages. Pseudo Biologist and I used to discuss the competing "lymphostat" (BLyS) efforts in the old VDXX thread, very interesting stuff. And are they the company that is king of albumin contstructs?
Comment was entirely past tense, and being a bubble job meant lots of cash to build a real business.
Yes, regardless of how the Merck, JNJ, obesity and "improved plavix" projects go, arna will never again be able to access public markets. They are doomed.
Arena Pharmaceuticals, Inc.
Condensed Consolidated Statements of Operations
(In thousands, except per share amounts)
Three months ended March 31,
2006 2005
(unaudited)
Revenues
Total revenues $12,126 $4,420
Expenses
Research and development 20,490 18,902
General and administrative 5,608 2,812
Amortization of acquired technology 384 384
Total expenses 26,482 22,098
Interest and other income, net 2,130 376
Net loss (12,226) (17,302)
Dividends on redeemable convertible
preferred stock (493) (361)
Accretion of discount and deemed
dividend related to redeemable
convertible preferred stock -- (7,372)
Net loss allocable to common stockholders $(12,719) $(25,035)
Net loss per share, basic and diluted $(0.30) $(0.79)
Shares used in calculating net loss
per share, basic and diluted 42,363,465 31,846,957
Note: The Condensed Consolidated Statements of Operations has been
derived from the audited financial statements for the period
indicated.
Condensed Consolidated Balance Sheet Data
(In thousands)
March 31, December 31,
2006 2005
(unaudited) (Note)
Assets
Cash, cash equivalents and short-term
investments $291,133 $127,939
Accounts receivable 2,042 848
Other current assets 7,677 5,721
Land, property and equipment, net 49,018 49,639
Acquired technology, investments
and other assets 14,726 13,982
Total assets $364,596 $198,129
Liabilities and Stockholders' Equity
Deferred revenues $21,665 $24,144
Other liabilities 26,638 24,668
Redeemable convertible preferred stock 50,270 49,777
Stockholders' equity 266,023 99,540
Total liabilities and
stockholders' equity $364,596 $198,129 |
