THE WOODLANDS, Texas, Nov. 13, 2012 (GLOBE NEWSWIRE) -- Repros Therapeutics Inc.(R) (RPRX) today announced financial results for the third quarter ended September 30, 2012.
Liquidity and Capital Resources
The Company had cash and cash equivalents of approximately $29.6 million as of September 30, 2012 as compared to $4.6 million as of December 31, 2011. On February 1, 2012, we completed a registered direct offering to certain institutional investors, including certain existing shareholders, of 2,463,537 shares of our common stock at a price per share of $4.50. Net proceeds to us, after deducting placement agent's fees and offering expenses, were approximately $10.3 million. On September 7, 2012, we completed a private placement of 2,145,636 shares of our common stock at a price per share of $11.00. Net proceeds to us, after deducting offering expenses, were approximately $23 million. Net cash of approximately $8.1 million was used in operating activities during the nine month period ended September 30, 2012 as compared to $7.1 million for the same period in the prior year. The major use of cash during the nine month period ended September 30, 2012 was to fund the Company's clinical development programs and associated administrative costs. Cash used in investing activities during the nine month period ended September 30, 2012 was approximately $632,000 primarily for capitalized patent and patent application costs for Androxal(R) and Proellex(R).
Financial Results
Net loss for the three month period ended September 30, 2012, was ($4.6) million or ($0.30) per share as compared to a net loss of ($4.0) million or ($0.32) per share for the same period in 2011. The net loss for the nine month period ended September 30, 2012, was ($10.1) million or ($0.69) per share as compared to a net loss of ($9.8) million or ($0.82) per share for the same period in 2011. The increase in loss for the three and nine month periods ended September 30, 2012 as compared to the same periods in 2011 was primarily due to an increase in non-cash stock based compensation, salary expense and increased clinical development expenses related to Proellex(R), partially offset by a decrease in expenses related to the clinical development of Androxal(R).
Research and development ("R&D") expenses decreased 3% or approximately $103,000 to $3.1 million for the three month period ended September 30, 2012 as compared to $3.2 million for the same period in the prior year and decreased 3% or approximately $204,000 to $6.8 million for the nine month period ended September 30, 2012 as compared to $7.0 million for the same period in the prior year. The decrease in R&D expenses for both the three and nine month periods ended September 30, 2012 as compared to the same periods in the prior year, is primarily due to the decreased clinical development expenses related to Androxal(R) due to the completion of the Phase 2b study in men with secondary hypogonadism, partially offset by an increase in clinical development expenses related to Proellex(R) due to the commencement of the Phase 2 vaginal administration study for uterine fibroids. Payroll and benefits expenses increased for both the three and nine month periods ended September 30, 2012 as compared to the same periods in the prior year due to increased headcount in R&D employees. Operating and occupancy expenses decreased for the three month period ended September 30, 2012 as compared to the same period in the prior year due to a decrease in costs associated with our patent portfolio. Operating and occupancy expenses decreased for the nine month period ended September 30, 2012 as compared to the same period in the prior year due to a decrease in costs associated with our patent portfolio, partially offset by an increase in consulting and other outside services.
General and administrative ("G&A") expenses increased 100% or approximately $727,000 to $1.5 million for the three month period ended September 30, 2012 as compared to $726,000 for the same period in the prior year and increased 20% or approximately $568,000 to $3.3 million for the nine month period ended September 30, 2012 as compared to $2.8 million for the same period in the prior year. The increase in G&A expenses for the three month period ended September 30, 2012 as compared to the same period in the prior year is primarily due to increases in non-cash stock based compensation, professional services, salaries and travel expenses. The increase in G&A expenses for the nine month period ended September 30, 2012 as compared to the same period in the prior year is primarily due to increases in salaries, professional services and travel expenses.
Total revenues and other income increased to $1,000 for the three month period ended September 30, 2012 as compared to zero for the same period in the prior year. Total revenue and other income was $1,000 for both nine month periods ended September 30, 2012 and 2011. The increase for the three month period ended September 30, 2012 was primarily due to an increase of $1,000 in interest income as a result of the private placement completed on September 7, 2012 for net proceeds of approximately $23 million.
As of September 30, 2012 we had 17,116,357 shares of common stock outstanding.
About Repros Therapeutics Inc.(R)
Read more:
Repros Therapeutics Inc.(R) Reports Third Quarter 2012 Financial Results
Contact Us Today For A Free Consultation
- Testosterone, Memory and Diabetes: What’s the Link? - July 9th, 2022
- Female Hypogonadism Symptoms | eHow - May 18th, 2021
- Low T - My life was falling apart because I had low testosterone - April 25th, 2021
- Hypogonadism - April 11th, 2021
- Testosterone cream and gel for supplementation treating hypogonadism - March 13th, 2021
- Testosterone Treatments May Alleviate Negative Effects of Type-Two Diabetes - December 8th, 2020
- More than 152 Million Men Suffer from Hypogonadism and Low Testosterone - November 26th, 2020
- Clomiphene Citrate for Low-T - October 28th, 2020
- NATESTO (testosterone) Nasal Spray - October 27th, 2020
- Risk Factors for and Causes of Male Hypogonadism - October 11th, 2020
- What Is Male Hypogonadism - August 14th, 2020
- Excessive Use of Tylenol / Acetaminophen May Negatively Affect Testosterone Levels in Unborn Boys - August 1st, 2020
- Ordering Testosterone Replacement Therapy (TRT) – Buy it Online! - May 8th, 2020
- Hypogonadism: Treatment, Diagnosis, and Prognosis - April 16th, 2020
- Testosterone Replacement Beneficial for Modern Men? - February 11th, 2020
- HIV and Testosterone Deficiency - verywell.com - July 17th, 2016
- Hypogonadism - UT Medical Center - July 17th, 2016
- Hypogonadism - Definition, Causes, Symptoms and Treatment - July 17th, 2016
- Lipocine - Hypogonadism - July 17th, 2016
- Hypogonadism - Risks, Symptoms and Leading Causes | Treato - July 17th, 2016
- Hypogonadism and Hypogonadism Resources - What is ... - July 17th, 2016
- Male Hypogonadism - Genitourinary Disorders - Merck ... - July 9th, 2016
- Male - Hypogonadism -- Low T Treatment Help!? - Drugs.com - May 6th, 2016
- Hypogonadism Causes Infertility. Learn how to detect and ... - May 6th, 2016
- BodyLogicMD - Hypogonadism (Low Testosterone in Men) - February 8th, 2016
- Hypogonadism | Disorders | Knowledge Base - August 26th, 2015
- hypogonadism | pathology | Britannica.com - July 22nd, 2015
- Male hypogonadism Tests and diagnosis - Mayo Clinic - May 23rd, 2015
- Hypogonadism (Medical Condition) - Video - April 21st, 2015
- Treatment Options for Hypogonadism - Healthline - April 4th, 2015
- Hypergonadotropic hypogonadism - Wikipedia, the free ... - March 23rd, 2015
- Testosterone treatment of male hypogonadism - UpToDate - March 23rd, 2015
- Statins may lower testosterone and libido - March 16th, 2015
- Hypogonadotropic Hypogonadism - Pipeline Review, H1 2015 - March 13th, 2015
- Biomarker monitors testosterone therapy for osteoporosis - March 12th, 2015
- The effect of hypogonadism and testosterone-enhancing therapy - Video - March 5th, 2015
- Causes of secondary hypogonadism in males - March 2nd, 2015
- Male hypogonadism: symptoms, cause, treatment, risk ... - February 18th, 2015
- Male Hypogonadism 1/28/15 - Video - January 31st, 2015
- What is Hypogonadism - Symptoms and Treatment | Hormone ... - January 30th, 2015
- Auxilium Announces Results from Special Meeting of Stockholders - January 28th, 2015
- Male hypogonadism pathophysiology - Video - January 14th, 2015
- Endo to Acquire Rights to Testosterone Nasal Gel Natesto - Analyst Blog - November 26th, 2014
- Testosterone Deficiency (Hypogonadism) Overview ... - November 23rd, 2014
- Male Hypogonadism Therapeutic Pipeline Industry Review, H2 2014 - Video - November 7th, 2014
- Hypogonadism in men living with HIV - Video - November 7th, 2014
- Will Repros (RPRX) Miss Estimates This Earnings Season? - Analyst Blog - November 5th, 2014
- Urology Care Foundation - Urology A-Z - Low Testosterone - November 3rd, 2014
- Male Hypogonadism: Male Reproductive Endocrinology: Merck ... - October 28th, 2014
- Hypogonadism Wikipedia - October 28th, 2014
- Hypogonadism No Moustache! No Beard!! - October 28th, 2014
- Apricus expands development pipeline with the in-licensing of US rights for fispemifene, a phase 2b ready asset, from ... - October 21st, 2014
- Apricus expands development pipeline with in-licensing of US rights for fispemifene - October 21st, 2014
- The Wall Street Journal: Repros Therapeutics shares drop on drug application setback - October 18th, 2014
- Repros Therapeutics Analyst Brief Report; Androxal(R) Achieves Superiority in Top Line Analysis by Small Cap Street ... - September 30th, 2014
- Repros Reports Encouraging Late-Stage Data on Androxal - Analyst Blog - August 28th, 2014
- Repros Therapeutics Q2 Loss a Penny Wider than Expected - Analyst Blog - August 12th, 2014
- Prevalence, Diagnosis and Treatment of Hypogonadism in ... - April 30th, 2014
- Repros Completes Enrollment for Androxal Study - Analyst Blog - April 16th, 2014
- VLog #127 Frances Explains Hypogonadism. - Video - April 7th, 2014
- Hypogonadism: Types, Causes, & Symptoms - Medical ... - April 6th, 2014
- Male hypogonadism Symptoms - Diseases and Conditions ... - April 2nd, 2014
- Update on Endo's Product Portfolio - Analyst Blog - March 11th, 2014
- Unit Project 1 Hypogonadotropic hypogonadism - Video - March 8th, 2014
- Endo: FDA Oks AVEED Injection For Treatment Of Adult Men With Hypogonadism - March 6th, 2014
- Hypogonadism | Medscape - Latest Medical News, Clinical ... - February 23rd, 2014
- Hypogonadism : Types, Causes, & Symptoms - Healthline - February 17th, 2014
- Low Testosterone (Hypogonadism) in Men - Video - February 14th, 2014
- Hypogonadism: Types, Causes, & Symptoms Healthline - February 14th, 2014
- Testosterone Therapy Not Always Good for Older Men - February 11th, 2014
- Endocrine Society calls for large-scale studies to evaluate testosterone therapy risks - February 8th, 2014
- Study Finds Potential Heart Risks from Testosterone Therapy - February 3rd, 2014
- Hypogonadism - SharedJourney - January 23rd, 2014
- Hypogonadism | Medscape - Latest Medical News, Clinical Trials ... - December 30th, 2013
- Hypogonadism - HealthCentral - December 24th, 2013
- Hypogonadism - December 23rd, 2013
- Hypogonadism - Medscape Reference - December 21st, 2013
- Audio-Digest Foundation Announces the Release of Oncology Volume 04, Issue 16: Highlights from Future Directions ... - December 15th, 2013
- Male hypogonadism: Symptoms - MayoClinic.com - December 12th, 2013
- Exciting medical advances using HRT - December 12th, 2013
Word Count: 793