-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CGYAJsrKLy8ZT3pmDLPx5S1rh3efDlQH8mk94lqa6TRwvkkRwXZeMCBVsAVQ8/KX swOkNb7+aHv7U4fZVp6jTQ== /in/edgar/work/20000726/0001072993-00-000533/0001072993-00-000533.txt : 20000921 0001072993-00-000533.hdr.sgml : 20000921 ACCESSION NUMBER: 0001072993-00-000533 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000630 FILED AS OF DATE: 20000726 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HOLLIS EDEN PHARMACEUTICALS INC /DE/ CENTRAL INDEX KEY: 0000899394 STANDARD INDUSTRIAL CLASSIFICATION: [2834 ] IRS NUMBER: 133697002 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 000-24672 FILM NUMBER: 679403 BUSINESS ADDRESS: STREET 1: 9333 GENESEE AVENUE STREET 2: SUITE 200 CITY: SAN DIEGO STATE: CA ZIP: 92121 BUSINESS PHONE: 8585879333 MAIL ADDRESS: STREET 1: 9333 GENESEE AVENUE STREET 2: SUITE 200 CITY: SAN DIEGO STATE: CA ZIP: 92121 FORMER COMPANY: FORMER CONFORMED NAME: INITIAL ACQUISITION CORP DATE OF NAME CHANGE: 19930329 10-Q 1 0001.txt FORM 10-Q 6/30/2000 ================================================================================ SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark one) [X] Quarterly Report Under Section 13 or 15 (d) of the Securities Exchange Act of 1934 For Quarterly Period Ended June 30, 2000 [_] Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act 1934 for the period from ___________ to ____________. HOLLIS-EDEN PHARMACEUTICALS, INC (Exact name of registrant as specified in its charter) DELAWARE (State or other jurisdiction of incorporation) 000-24672 13-3697002 (Commission File No.) (I.R.S. Employer Identification No.) 9333 Genesee Ave., Suite 200 SAN DIEGO, CALIFORNIA 92121 (Address of principal executive offices and zip code) Registrant's telephone number, including area code: (858) 587-9333 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES [X] NO [_] As of July 26, 2000 there were 11,248,853 shares of registrant's Common Stock, $.01 par value, outstanding. ================================================================================ HOLLIS-EDEN PHARMACEUTICALS, INC. Form 10-Q FOR THE QUARTER ENDED JUNE 30, 2000 INDEX PART I. FINANCIAL INFORMATION PAGE ---- ITEM 1 Financial Statements............................................. 3 Balance Sheets - June 30, 2000 and December 31, 1999............. 3 Statements of Operations for the Three-Month and Six-Month Periods Ended June 30, 2000 and 1999 and Period from August 15, 1994 to June 30, 2000................................. 4 Statements of Cash Flows for the Six-Month Period Ended June 30, 2000 and 1999 and Period from August 15, 1994 to June 30, 2000................................................. 5 Notes to Financial Statements.................................... 6 ITEM 2 Management's Discussion and Analysis of Results of Operations and Financial Condition.......................................... 7 ITEM 3 Quantitative and Qualitative Disclosures about Market Risk....... 9 PART II OTHER INFORMATION ITEM 1 Legal Proceedings................................................ 10 ITEM 2 Changes in Securities............................................ 10 ITEM 3 Defaults Upon Senior Securities.................................. 10 ITEM 4 Submission of Matters to a Vote of Security Holders.............. 10 ITEM 5 Other Information................................................ 10 ITEM 6 Exhibits and Reports on Form 8-K................................. 10 2 PART I. FINANCIAL INFORMATION ITEM I. FINANCIAL STATEMENTS HOLLIS-EDEN PHARMACEUTICALS, INC. (A DEVELOPMENT STAGE COMPANY) BALANCE SHEETS (UNAUDITED) All numbers in thousands June 30, Dec. 31, 2000 1999 -------- ------- ASSETS: Current assets: Cash and cash equivalents......................... $ 41,140 $47,486 Prepaid expenses................................... 197 115 Deposits........................................... 27 27 -------- ------- Total current assets.......................... 41,364 47,628 Property and equipment, net of accumulated depreciation of $149 and $97..................... 389 392 Other receivable from related party................ 250 245 -------- ------- Total assets.................................. $ 42,003 $48,265 ======== ======= LIABILITIES AND STOCKHOLDERS' EQUITY: Current liabilities: Accounts payable and accrued expenses.............. $ 2,151 $ 1,640 -------- ------- Total liabilities............................. 2,151 1,640 -------- ------- Commitments and contingencies Stockholders' equity: Preferred stock, no par value, 10,000 shares authorized; no shares outstanding ............. -- -- Common stock, $.01 par value, 30,000 shares authorized; 11,249 and 11,071 shares issued and outstanding.................. 112 111 Paid-in capital.................................. 78,055 75,155 Common stock to be issued........................ 9,240 -- Deficit accumulated during development stage..... (47,555) (28,641) ------- ------- Total stockholders' equity..................... 39,852 46,625 ------- ------- Total liabilities and stockholders' equity..... $ 42,003 $48,265 ======== ======= The accompanying notes are an integral part of these financial statements. 3 HOLLIS-EDEN PHARMACEUTICALS, INC. (A Development Stage Company) STATEMENTS OF OPERATIONS (UNAUDITED)
- ------------------------------------------------------------------------------------------------------------------- All numbers in thousands, except per share amounts Period from Inception (Aug.15,1994) 3 months ended June 30, 6 months ended June 30, to June 30 2000 1999 2000 1999 2000 ------------ ------------ ------------ ------------ ------------ Operating expenses: Research and development: R&D operating expenses ........ $ 2,617 $ 1,601 $ 6,815 $ 2,360 $ 19,998 R&D costs related to common stock, option, & warrant grants for collaborations ............ 24 -- 11,314 -- 11,968 General and administrative: G&A operating expenses ........ 1,025 1,127 2,101 2,092 10,931 G&A costs related to common stock, option, & warrant grants -- 148 7,314 9,490 ------------ ------------ ------------ ------------ ------------ Total operating expenses ........... 3,666 2,876 20,230 11,766 52,387 Other income (expense): Interest income ................... 673 599 1,316 1,096 4,882 Interest expense .................. -- -- -- (50) ------------ ------------ ------------ ------------ ------------ Total other income ................. 673 599 1,316 1,096 4,832 Net loss ........................... $ (2,993) $ (2,277) $ (18,914) $ (10,670) $ (47,555) ============ ============ ============ ============ ============ Net loss per share basic and diluted ........................... (0.27) (0.21) (1.69) (1.00) Weighted average number of common shares outstanding basic and diluted ................. 11,233 11,058 11,203 10,661
The accompanying notes are an integral part of these financial statements. 4 HOLLIS-EDEN PHARMACEUTICALS, INC. (A DEVELOPMENT STAGE COMPANY) STATEMENTS OF CASH FLOWS (Unaudited)
- ----------------------------------------------------------------------------------------------- All numbers in thousands Period from Inception (Aug. 15, 1994) 6 months ended June 30, to June 30 2000 1999 2000 -------- -------- ------------- Cash flows from operating activities: Net loss .......................................... $(18,914) $(10,670) $(47,555) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation .................................. 52 23 149 Common stock issued for the company 401k/m plan 63 -- 63 Common stock issued as consideration for amendments/termination of agreements ......... -- -- 66 Common stock/warants issued as consideration for the purchase of technology ............... 10,684 -- 10,684 Common stock issued as consideration for license fees and services ................ 599 -- 1,194 Expense related to options/warrants issued as consideration to consultants .............. 31 2,140 2,593 Expense related to warrants issued to a director for successful closure of merger .... -- -- 570 Expense related to stock options issued ....... -- 4,900 5,140 Deferred compensation expense related to options issued ............................ -- 285 1,210 Changes in assets and liabilities: Prepaid expenses .................................. (75) (96) (197) Deposits .......................................... -- (18) (27) Receivable from related party ..................... (13) (42) (250) Accounts payable and accrued expenses ............. 511 271 2,151 Disposal of assets ................................ -- 7 7 R & D fees payable to related party ............... -- -- -- -------- -------- -------- Net cash used in operating activities ......... (7,062) (3,200) (24,202) Cash flows provided by investing activities: Purchase of property and equipment ................ (49) (269) (544) -------- -------- -------- Net cash used in investing activities ......... (49) (269) (544) Cash flows from financing activities: Borrowings from related party ..................... -- -- 342 Payments on note payable to related party ......... -- -- (342) Contributions from stockholder .................... -- -- 103 Net proceeds from sale of preferred stock ......... -- -- 4,000 Net proceeds from sale of common stock ............ -- 24,773 42,172 Proceeds from issuance of debt .................... -- -- 371 Net proceeds from recapitalization ................ -- -- 6,271 Net proceeds from warrants and options exercised .. 765 5,098 12,969 -------- -------- -------- Net cash from financing activities ............ 765 29,871 65,886 Net increase in cash ................................ (6,346) 26,402 41,140 Cash at beginning of period ......................... 47,486 24,190 -- -------- -------- -------- Cash at end of period ............................... $ 41,140 $ 50,592 $ 41,140 ======== ======== ========
The accompanying notes are an integral part of these financial statements. 5 HOLLIS-EDEN PHARMACEUTICALS, INC. (A Development Stage Company) NOTES TO FINANCIAL STATEMENTS (UNAUDITED) 1. BASIS OF PRESENTATION The information at June 30, 2000, and for the three-month and six-month periods ended June 30, 2000 and 1999, is unaudited. In the opinion of management, these financial statements include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. These financial statements should be read in conjunction with Hollis-Eden Pharmaceuticals, Inc. ("Hollis-Eden" or the "Company") Annual Report on Form 10-K for the year ended December 31, 1999, which was filed with the United States Securities and Exchange Commission on March 20, 2000. 2. ISSUANCE OF COMMON STOCK / WARRANTS FOR TECHNOLOGY ACQUISITION During January 2000, Hollis-Eden entered into new agreements settling its pending arbitration with Patrick T. Prendergast, Colthurst and Edenland. The Settlement and Mutual Release Agreement completely disposed of all of the matters that were at issue in the pending arbitration. In addition, the parties entered into two new technology agreements, the Technology Assignment Agreement and the Sponsored Research and License Agreement. The Technology Assignment Agreement replaces the Colthurst License Agreement dated May 18, 1994 among Hollis-Eden, Mr. Prendergast and Colthurst. Pursuant to the Technology Assignment Agreement, Mr. Prendergast and Colthurst assigned to Hollis-Eden ownership of all patents, patent applications and current or future improvements of the technology under the Colthurst License Agreement. In consideration for the termination of the Colthurst agreement, including Hollis-Eden's royalty obligations thereunder, and transfer of technology under the Technology Transfer Agreement, Hollis-Eden agreed to issue to Colthurst 660,000 shares of Hollis-Eden Common Stock ("Common Stock") and warrants to purchase an aggregate of 400,000 shares of Common Stock with an exercise price of $25 per share. Since the technology is still in it's early stages, Hollis Eden incurred a one-time non-cash charge during January 2000, of $9.24 million and $1.44 million for the Common Stock and warrants issued, respectively. Only 132,000 of the 660,000 shares of Common Stock will be issued in 2000, with the remaining 528,000 shares to be issued over the next four years conditioned on continued compliance with the agreement. In addition, all of the shares under the warrant will vest over the next four years conditioned on continued compliance with the agreement. Continued compliance with the agreement is not dependant upon any substantive actions to be performed or taken by Prendergast or Colthurst. The compliance relates primarily to (i) their support of specified company actions and (ii) not conducting any research and development activities relating to the transferred technology. Accordingly, the shares of stock to be issued in the future have been recorded in stockholders' equity. The Sponsored Research and License Agreement replaces both the Edenland License Agreement and the Research, Development and Option Agreement, each dated August 25, 1994 among Hollis-Eden, Mr. Prendergast and Edenland. Pursuant to the Sponsored Research and License Agreement, Edenland exclusively licensed to Hollis-Eden a number of compounds, together with all related patents and patent applications. In consideration for the license agreement, within a month of receipt of all required documents, the Company was obligated to pay Edenland $2 million. The Company paid the $2 million to Edenland during the second quarter of 2000. 6 3. ISSUANCE OF COMMON STOCK FOR LICENSE FEES The Company entered into an exclusive license agreement with Humanetics Corporation on January 28, 2000. In consideration of the license agreement, the Company agreed to issue to Humanetics 38,000 shares of Common Stock. The issuance of the Common Stock resulted in a $598,500 non-cash charge during the quarter ended March 31, 2000. ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION The forward-looking comments contained in the following discussion involve risks and uncertainties. The Company's actual results may differ materially from those discussed here. Factors that could cause or contribute to such differences can be found in the following discussion, as well as in the Company's Annual Report on Form 10-K for the year ended December 31, 1999. While management believes that the discussion and analysis in this report is adequate for a fair presentation of the information, management recommends that this discussion and analysis be read in conjunction with Management's Discussion and Analysis of Results of Operations and Financial Condition included in the Company's Annual Report on Form 10-K for the year ended December 31, 1999, which was filed with the United States Securities and Exchange Commission on March 20, 2000. GENERAL Hollis-Eden Pharmaceuticals, Inc., a development-stage pharmaceutical company, is engaged in the discovery, development and commercialization of products for the treatment of infectious diseases and immune system disorders, including HIV/AIDS, hepatitis and malaria. We are focusing our initial development efforts on a potent series of adrenal steroid hormone analogs. Our lead compound in this series, HE2000, is currently in Phase I/II clinical studies in the U.S. and South Africa. By altering cytokine production, HE2000 appears from early clinical studies to help reestablish immune system balance in situations such as HIV where the immune system is dysregulated. In the setting of HIV we believe that, by reestablishing this balance, the immune system may be able to better control virus levels and potentially delay or prevent the progression to AIDS. In addition, based on the mechanism of action, we believe this compound will have an attractive safety profile and will avoid issues of resistance that plague many existing antiviral drugs. The ability to restore immune system balance has the potential to have broad applicability to a wide variety of infectious diseases and oncology- related applications as well as a number of inflammatory conditions. To more fully exploit this commercial opportunity we have begun an aggressive research and licensing effort designed to expand both the number of compounds in development and the breadth of potential therapeutic applications. Several compounds resulting from these activities are in late stage preclinical development and are candidates for clinical trials. We are pursuing a partially integrated approach to building our business. As such, we intend to utilize third parties for many of our activities such as clinical development and manufacturing. We believe by being involved in the design and supervision of these activities, but not the day-to-day execution, we can preserve our flexibility and limit our net losses during the development phase. If we are able to successfully develop HE2000 or other pharmaceutical products, we anticipate marketing them directly in the U.S. and potentially elsewhere, subject to applicable regulatory approvals. For certain therapeutic indications or geographic regions, we anticipate establishing strategic collaborations to commercialize these opportunities. 7 We have not yet generated any operating revenues. We have experienced significant operating losses due to substantial expenses incurred to acquire and fund development of our drug candidates and, as of June 30, 2000, had an accumulated deficit of approximately $47.5 million. We cannot guarantee that any of our drug candidates will be approved for commercial sale or that any of the foregoing proposed arrangements will be implemented or prove to be successful. Hollis-Eden has been unprofitable since inception and we expect to incur substantial additional operating losses for at least the next few years as we increase expenditures on research and development and begin to allocate significant and increasing resources to our clinical testing and other activities. In addition, during the next few years, we will have to meet the substantial new challenge of developing the capability to market products. Accordingly, our activities to date are not as broad in depth or scope as the activities we must undertake in the future, and our historical operations and financial information are not indicative of future operating or financial condition or our ability to operate profitably as a commercial enterprise when and if we succeed in bringing any drug candidate to market. RESULTS OF OPERATIONS Hollis-Eden has not generated any revenues for the period from the founding, on August 15, 1994, through June 30, 2000. We have devoted substantially all of our resources to the payment of licensing fees and research and development expenses in addition to expenses related to the startup of our business. From the founding until June 30, 2000, we have incurred expenses of approximately $32 million in research and development and $20.4 million in general and administrative expenses, which has been partially offset by $4.9 million in net interest income resulting in a cumulative loss of $47.5 million, of which $21.7 million consisted of non-cash expenses. Research and development operating expenses increased to $2.6 million from $1.6 million and increased to $6.8 million from $2.4 million for the three- and six-month periods ended June 30, 2000 and 1999, respectively. Research and development operating expenses relate primarily to ongoing development, preclinical testing and clinical trial expenses for the Company's drug candidates. The increase in research and development operating expenses for the three- and six-month periods ended June 30, 2000, as compared to the same periods in 1999, was due mainly to increased staffing and preclinical and clinical trial activities. These expenses are expected to continue to increase as the Company expands its clinical activities. Included in the six-month period ended June 30, 2000 was $2.2 million in license and collaboration expenses related to new or restructured collaborations. The 1999 results included a $500,000 license fee. In the six-month period ended June 30, 2000, research and development non- cash charges of $11.3 million were incurred for costs relating to issuances of Common Stock and warrants. The non-cash charges are comprised mainly of $10.7 million relating to our new Technology Assignment Agreement (see note 2) and $600,000 relating to our new license agreement with Humanetics Corporation (see note 3). There were no such charges for the same time period in 1999. General and administrative operating expenses remained relatively unchanged at $1.0 million for the three-month period ended June 30, 2000, compared to $1.1 million for the same period in 1999, and $2.1 million for both six-month periods ended June 30, 2000 and 1999. General and administrative operating expenses relate to staffing, facilities, supplies, benefits, recruiting, legal and travel. During the six-month period ending June 30, 1999, $7.3 million in general and administrative expenses were incurred for non-cash charges relating to issuances of options and warrants. There were no comparable general and administrative charges for the six-month period ended June 30, 2000. Net interest income increased to $673,000 from $599,000 and to $1.3 million from $1.1 million for the three- and six-month periods ended June 30, 2000 and 1999, respectively. The increase in interest income is primarily due to higher interest rates from investment accounts. 8 LIQUIDITY AND CAPITAL RESOURCES Hollis-Eden has financed its operations since inception through the sale of shares of stock and with loans from its founder, Richard B. Hollis, which were repaid in January 1996. During the year ended December 31, 1995, Hollis-Eden received cash proceeds of $250,000 from the sale of securities. In May 1996, we completed a private placement of shares of Common Stock, from which we received aggregate gross proceeds of $1.3 million. In March 1997, the merger of Initial Acquisition Corp. and Hollis-Eden provided us with $6.5 million in cash and other receivables. During May 1998, we closed a private placement of shares of Common and Preferred Stock with gross proceeds totaling $20.6 million. During January 1999, we closed two private placements of shares of Common Stock with aggregate gross proceeds of approximately $24.8 million. In addition, we have received $13.0 million from the exercise of options and warrants. Hollis-Eden's operations to date have consumed substantial capital without generating any revenues, and we will continue to require substantial and increasing amounts of funds to conduct necessary research and development and preclinical and clinical testing of our drug candidates, and to market any drug candidates that receive regulatory approval. We do not expect to generate revenue from operations for the foreseeable future, and our ability to meet our cash obligations as they become due and payable is expected to depend for at least the next several years on our ability to sell securities, borrow funds or some combination thereof. Based upon our current plans, we believe that our existing capital resources, together with interest thereon, will be sufficient to meet our operating expenses and capital requirements at least into 2002. There can be no assurance, however, that changes in our research and development plans or other events affecting our operating expenses will not result in the expenditure of such cash before that time. No assurance can be given that we will be successful in raising necessary funds. Our future capital requirements will depend upon many factors, including progress with preclinical testing and clinical trials, the number and breadth of our programs, the time and costs involved in preparing, filing, prosecuting, maintaining and enforcing patent claims and other proprietary rights, the time and costs involved in obtaining regulatory approvals, competing technological and market developments, and our ability to establish collaborative arrangements, effective commercialization, marketing activities and other arrangements. In any event, we expect to continue to incur increasing negative cash flows and net losses for the foreseeable future. This report may contain certain forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) and information relating to the Company that are based on the beliefs of the management of the Company as well as assumptions made by and information currently available to the management of the Company. When used in this report, the words "anticipate," "believe," "estimate," "expect," "intend," "plan" and similar expressions, as they relate to the Company or the management of the Company, identify forward-looking statements. Such statements reflect the current views of the Company with respect to future events, the outcome of which is subject to certain risks, including among others general economic and market conditions, possible disruptions in the Company's computer or telephone systems, increased or unanticipated costs or effects associated with Year 2000 compliance by the Company or its service or supply providers, possible work stoppages or increases in labor costs, effects of competition, litigation results or effects, and other factors which maybe outside of the Company's control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those described as anticipated, believed, estimated, expected, intended or planned. Subsequent written and oral forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements in this paragraph. ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK Not applicable. 9 PART II OTHER INFORMATION ITEM 1. LEGAL PROCEEDINGS Please refer to Form 10-Q for Quarterly Period Ended March 31, 2000 filed on May 2, 2000. ITEM 2. CHANGES IN SECURITIES None ITEM 3. DEFAULTS UPON SENIOR SECURITIES None ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS The Annual Meeting of Stockholders of Hollis-Eden Pharmaceuticals was held on June 23, 2000. At this meeting, the Company solicited the vote of the stockholders on the proposals set forth below and received for each proposal the votes indicated below: (1) To elect two Class III directors to hold office until the 2003 Annual Meeting of Stockholders. Elected to serve as Class III directors were Richard B. Hollis and Leonard Makowka M.D., Ph.D., FRCS(C), FACS. For each elected director the results of voting were: 9,327,135 for, 128,782 withheld, and 0 abstained. The continuing directors are Salvatore J. Zizza, Paul Bagley, William H. Tilley, Thomas Charles Merigan, Jr., M.D and Brendan R. McDonnell. (2) To approve the Company's 1997 Incentive Stock Option Plan, as amended, to increase the aggregate number of shares of Common Stock authorized for issuance under such plan by 500,000 shares to a total of 2,750,000 shares. The 1997 Incentive Stock option Plan, as amended, was approved with the following votes: 9,080,069 for, 271,742 against, and 104,106 abstained. (3) To ratify the selection of BDO Seidman, LLP as independent auditors of the Company for its fiscal year ending December 31, 2000. The selection of BDO Seidman, LLP as independent auditors of the Company for its fiscal year ending December 31, 2000 was ratified with the following votes: 9,433,543 for, 12,976 against, and 9,398 abstained. ITEM 5. OTHER INFORMATION None ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K Exhibits: 27 Financial Data Schedule (filed electronically only) 10 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HOLLIS-EDEN PHARMACEUTICALS, INC. Dated: July 25, 2000 By: /s/ Daniel D. Burgess ------------------------ Daniel D. Burgess Chief Operating Officer/ Chief Financial Officer (Principal Financial Officer) By: /s/ Robert W. Weber ------------------------ Robert W. Weber Vice President-Controller/ Chief Accounting Officer (Principal Accounting Officer) INDEX TO EXHIBITS 27 FINANCIAL DATA SCHEDULE (FILED ELECTRONICALLY ONLY) 11 EX-27 2 0002.txt FINANCIAL DATA SCHEDULE
5 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMPANY'S FORM 10-Q FOR THE SIX MONTH PERIOD ENDED JUNE 30, 2000 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 6-MOS DEC-31-2000 JAN-01-2000 JUN-30-2000 41,140 0 0 0 0 41,364 538 149 42,003 2,151 0 0 0 112 39,740 42,003 0 0 0 20,230 0 0 0 (18,914) 0 (18,914) 0 0 0 (18,914) (1.69) (1.69)
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