The condensed balance sheets for kaléo at March 31, 2016 and December 31, 2015 and condensed statements of operations for the three months ended March 31, 2016 and 2015, as reported to the Company by kaléo, are provided below:



(In Thousands)	March 31, 2016		December 31, 2015			March 31, 2016			December 31, 2015
Assets:					Liabilities & Equity:
Cash & short-term investments	$	96,431	$	91,844
Restricted cash	3,748		8,182
Other current assets	19,063		9,070		Other current liabilities	$	33,644		$	10,261
Property & equipment	15,821		8,453		Other noncurrent liabilities	609			552
Patents	2,867		2,811		Long term debt, net	142,868			142,696
Other long-term assets	114		92		Equity	(39,077		)	(33,057		)
Total assets	$	138,044	$	120,452	Total liabilities & equity	$	138,044		$	120,452



	Three Months Ended March 31,
	2016			2015
Revenues & Expenses:
Revenues, net (a)	$	(3,050	)	$	4,850
Cost of goods sold	(3,622		)	(2,330		)
Expenses and other, net (b)	541			(14,384		)
Income tax benefit (expense)	(8		)	(4		)
Net income (loss)	$	(6,139	)	$	(11,868	)
(a) Negative revenues during the first quarter of 2016 relate to the impact of product sales allowances on channel inventory following a product price reset during the quarter. (b) “Expenses and other, net” includes selling, general and administrative expense, research and development expense, gain on contract termination, interest expense and other income (expense), net. Excluding the gain, “Expenses and other, net” would have been a net deduction of $17.5 million in the first quarter of 2016.