PSTI
Informe. Estoy agotada y ya no proceso, pero parece horrible. Que alguien le eche un vistazo estos párrafos que pego y, si es posible, a las tablas del balance. En cualquier caso, me imagino que estará todo descontado.
The Company has sustained operating losses and expects such losses to continue in the foreseeable future. The Company's accumulated losses aggregated to $79,912 through March 31, 2013 and the Company incurred a net loss of $14,165 for the nine months ended March 31, 2013
The Company plans to continue to finance its operations with sales of equity securities, entering into licensing technology agreements such as the United Therapeutics Corporation (“United Therapeutics”) agreement, and from grants to support its R&D activity. In the longer term, the Company plans to finance its operations from revenues from sales of products.
Revenues for the nine months ended March 31, 2013 were $584,000 as compared to revenues of $615,000 for the nine months ended March 31, 2012. All such revenues are derived from our agreement with United, or the United Agreement. The Company estimated the performance period of the development of approximately 6.5 years. The license fee will be recognized on a straight line basis as revenue over the estimated development period.
Revenues for the three months ended March 31, 2013 were $194,000 as compared to revenues $230,000 for three months ended March 31, 2012. All such revenues are derived from the United Agreement. As discussed above, the Company estimated the performance period of the development of approximately 6.5 years and the license fee will be recognized on a straight line basis as revenue over the estimated development period.
The Company plans to continue to finance its operations with sales of equity securities, entering into licensing technology agreements such as the United Therapeutics Corporation (“United Therapeutics”) agreement, and from grants to support its R&D activity. In the longer term, the Company plans to finance its operations from revenues from sales of products.
Research and development expenses, net of participation of the Office of Chief Scientist, or OCS, and other grants, increased by 66% from $6,821,000 for the nine months ended March 31, 2012 to $11,313,000 for the nine months ended March 31, 2013. This increase is attributed to the material increase in our in-house research and development activity
General and administrative expenses for the nine months ended March 31, 2013 decreased by 12% from $4,836,000 for the nine months ended March 31, 2012 to $4,260,000 mainly due to a decrease in stock-based compensation expenses related to our employees and consultants.
General and administrative expenses for the three months ended March 31, 2013 decreased by 40% from $1,924,000 for the three months ended March 31, 2012 to $1,159,000 mainly due to a decrease in stock-based compensation expenses related to our employees and consultants, offset by an increase in salaries due to, among other things, hiring 4 new employees during the three months ended March 2012.
Financial income increased from $401,000 for the nine months ended March 31, 2012 to $842,000 for the nine months ended March 31, 2013 due to exchange rate adjustments and hedging transactions, as described below.
Financial income decreased from $436,000 for the three months ended March 31, 2012 to $253,000 for the three months ended March 31, 2013 due to hedging transactions, as described below.
Net loss for the nine and three months ended March 31, 2013 was $14,165,000 and $5,680,000, respectively, as compared to net loss of $10,659,000 and $4,174,000 for the nine and three months ended March 31, 2012, respectively. Net loss per share for the nine and three months ended March 31, 2013 was $0.26 and $0.10, respectively, as compared to $0.24 and $0.09 for the nine and three months ended March 31, 2012.
Cash and cash equivalents as of March 31, 2013 amounted to $27,821,000. This is an increase of $18,432,000 from the $9,389,000 reported as of June 30, 2012, which is mainly due to the public offering we closed in September 2012
We have accumulated a deficit of $79,912,000 since our inception in May 2001. We do not expect to generate any revenues from sales of products in the next twelve months. Our products will likely not be ready for sale for at least three years, if at all. Our cash needs will increase in the foreseeable future. We expect that in the coming years our research and development and general and administrative expenses will continue to grow.
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