Server: Microsoft-IIS/3.0 Date: Thu, 18 Dec 1997 17:57:23 GMT Content-Type: text/html Accept-Ranges: bytes Last-Modified: Wed, 12 Nov 1997 19:11:29 GMT Content-Length: 13831
As of September 30, 1997 Neurobiological Technologies, Inc. (Nasdaq: NTII) had cash and cash equivalents of $2.3 million and no long-term debt. The company's cash and investments are expected to fund operations through the quarter ending December 31, 1997. The company will need to raise substantial capital to fund subsequent operations.
The company reported a net loss of $1,276,000, or $0.20 per share, for its quarter ended September 30, 1997. This compares to a net loss of $1,734,000, or $0.27 per share, for the same quarter a year ago. For the fiscal year ended June 30, 1997, the net loss was $7,369,000, or $1.13 per share, compared to a net loss of $5,211,000, or $1.05 per share, for the year ended June 30, 1996.
STATEMENT OF OPERATIONS
(Unaudited)
Three Months Ended |
Year Ended |
|||||||||||
|
September 30, |
June 31, |
||||||||||
|
|
|
1997 |
|
|
1996 |
|
|
1997 |
|
|
1996 |
Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
$ |
43,000 |
|
$ |
138,000 |
|
$ |
407,000 |
|
$ |
506,000 |
Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Research and development |
|
|
698,000 |
|
|
1,534,000 |
|
|
5,478,000 |
|
|
4,320,000 |
General and administrative |
|
|
621,000 |
|
|
376,000 |
|
|
2,298,000 |
|
|
1,397,000 |
Total expenses |
|
|
1,319,000 |
|
|
1,910,000 |
|
|
7,776,000 |
|
|
5,717,000 |
Net loss |
|
$ |
(1,276,000 |
) |
$ |
(1,753,000 |
) |
$ |
(7,369,000 |
) |
$ |
(5,211,000) |
Net loss per share |
|
$ |
(0.20 |
) |
$ |
(0.27 |
) |
$ |
(1.13 |
) |
$ |
(1.05) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in net loss per share calculation |
|
|
6,540,314 |
|
|
6,504,982 |
|
|
6,527,392 |
|
|
4,985,229 |
SELECTED BALANCE SHEET DATA
|
|
September 30, |
|
|
June 30, |
|
|
|
|
1997 |
|
|
1997 |
Cash and investments |
|
$ |
2,337,000 |
|
$ |
3,838,000 |
Working capital |
|
|
1,769,000 |
|
|
3,013,000 |
Total assets |
|
|
2,617,000 |
|
|
4,207,000 |
Deficit accumulated during development stage |
|
|
(27,448,000) |
|
|
(26,172,000) |
Stockholders' equity |
|
$ |
1,935,000 |
|
$ |
3,211,000 |
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