LA JOLLA, Calif., Oct. 25 /PRNewswire/ -- Agouron Pharmaceuticals, Inc.
(Nasdaq-NNM: AGPH) today announced a net loss of $14,447,000, or $1.15 per
common share, on revenues of $17,514,000 for the quarter ended September 30,
1996. The net loss recorded in the comparable period of the prior fiscal year
was $2,523,000, or $0.33 per common share, on revenues of $10,963,000.
Operating results for the first three months of fiscal 1997 reflect
Agouron's increasing investment in the clinical development and
commercialization of its anti-HIV drug VIRACEPT(TM) (nelfinavir mesylate), a
new development collaboration with Hoffmann-La Roche Inc. and F. Hoffmann-La
Roche Ltd., and the net proceeds from the Company's secondary offering of
2,735,000 shares of common stock in July 1996.
Agouron Pharmaceuticals, Inc. is a pioneer and leader in technologies
permitting the rational design of novel, small molecule drugs based upon the
molecular structures of proteins which play key roles in human disease.
Agouron is currently applying these technologies to the design and development
of novel drugs for treatment of cancer, AIDS and other serious diseases.
FINANCIAL INFORMATION
(In thousands, except per share amounts)
Statement of Operations Three Months Ended
(unaudited) September 30
1996 1995
Revenues:
Contracts $17,514 $10,963
Expenses:
Research and development 29,634 12,528
Selling, general and administrative 3,736 1,106
33,370 13,634
Net operating loss (15,856) (2,671)
Other income/expense, net 1,409 148
Net loss $(14,447) $(2,523)
Net loss per common share $(1.15) $(.33)
Shares used in computing net
loss per common share 12,576 7,719
Balance Sheet September 30 June 30
1996 1996
(unaudited)
Assets:
Cash, cash equivalents and
short term investments $144,152 $90,875
Property and equipment, net 7,455 6,936
Other assets 14,144 4,766
$165,751 $102,577
Liabilities and stockholders' equity:
Current liabilities $10,934 $11,472
Deferred contract revenue 14,295 13,788
Other liabilities 1,708 1,734
Stockholders' equity 138,814 75,583
$165,751 $102,577
Shares outstanding 13,503 10,732
SOURCE Agouron Pharmaceuticals, Inc.
 back to top
CONTACT:
Steven S. Cowell, Vice President ''&'' CFO or
Donna Nichols, Senior Director, Corporate Communications, both of
Agouron Pharmaceuticals, Inc., 619-622-3009
|
