EX-99.2 2 c10211exv99w2.txt UNAUDITED BALANCE SHEET AND STATEMENTS OF OPERATIONS . . . EXHIBIT 99.2 3F THERAPEUTICS, INC. BALANCE SHEET (in thousands, except per share and share data)
SEPTEMBER 30, 2006 ----------------- (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 2,599 Short-term investments 13 Accounts receivable, net 97 Other receivables 7 Inventories 376 Prepaid expenses and other current assets 137 ----------------- Total current assets 3,229 Leasehold improvements, furniture and equipment, net 296 ----------------- TOTAL ASSETS $ 3,525 ================= LIABILITIES AND SHAREHOLDERS' DEFICIT Current liabilities: Accounts payable $ 1,419 Accrued compensation 469 Accrued expenses 389 Deferred revenue 3,632 ----------------- Total current liabilities 5,909 Warrants 196 Shareholders' deficit: Convertible preferred stock, Series A, B,C, D and E, $0.001 par value; 18,923,265 shares authorized; 12,577,966 shares issued and outstanding at September 30, 2006; aggregate value in liquidation $39,271,025 at September 30, 2006 38,544 Common stock, $0.001 par value: Authorized shares -- 35,000,000; Issued and outstanding shares -- 5,294,500 at September 30, 2006 5 Additional paid-in capital 6,818 Accumulated deficit (47,947) ----------------- Total shareholders' deficit (2,580) ----------------- TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT $ 3,525 =================
3F THERAPEUTICS, INC. STATEMENTS OF OPERATIONS (unaudited) (in thousands, except per share data)
THREE MONTHS NINE MONTHS ENDED SEPTEMBER 30, ENDED SEPTEMBER 30, 2006 2006 ------------------- ------------------- Net product sales $ 8 $ 86 License revenue 3,649 11,031 ----------------- ------------------ Total revenue 3,657 11,117 Cost of product sales and license revenue 249 940 ----------------- ------------------ Gross profit 3,408 10,177 Operating expenses: Sales and marketing 296 544 Research and development 1,706 5,286 General and administrative 2,062 4,768 ----------------- ------------------ Total operating expenses 4,064 10,598 ----------------- ------------------ Operating loss (656) (421) Net interest income 55 248 ----------------- ------------------ Pretax loss (601) (173) Income tax expense (15) (55) ----------------- ------------------ Net loss $ (616) $ (228) ================= ==================