Attached files
| file | filename |
|---|---|
| 8-K/A - FORM 8-K/A - Aegerion Pharmaceuticals, Inc. | d12780d8ka.htm |
Exhibit 99.1
Aegerion Pharmaceuticals, Inc.
Condensed Consolidated Statements of Operations
(unaudited)
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| (In 000s) | 2015 | 2014 | 2015 | 2014 | ||||||||||||
| Net product sales |
$ | 64,197 | $ | 36,014 | $ | 123,581 | $ | 62,987 | ||||||||
| Cost of product sales |
13,997 | 4,158 | 25,835 | 6,822 | ||||||||||||
| Operating expenses: |
||||||||||||||||
| Selling, general and administrative |
42,672 | 32,330 | 89,600 | 64,109 | ||||||||||||
| Research and development |
12,471 | 8,942 | 22,269 | 16,846 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total operating expenses |
55,143 | 41,272 | 111,869 | 80,955 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Loss from operations |
(4,943 | ) | (9,416 | ) | (14,123 | ) | (24,790 | ) | ||||||||
| Interest expense, net |
(7,069 | ) | (70 | ) | (14,000 | ) | (141 | ) | ||||||||
| Other income (expense), net |
1,116 | (31 | ) | 1,601 | (138 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Loss before provision for income taxes |
(10,896 | ) | (9,517 | ) | (26,522 | ) | (25,069 | ) | ||||||||
| Provision for income taxes |
(254 | ) | (105 | ) | (453 | ) | (329 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loss |
$ | (11,150 | ) | $ | (9,622 | ) | $ | (26,975 | ) | $ | (25,398 | ) | ||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net loss per common share - basic and diluted |
$ | (0.39 | ) | $ | (0.33 | ) | $ | (0.94 | ) | $ | (0.86 | ) | ||||
|
|
|
|
|
|
|
|
|
|||||||||
| Weighted-average shares outstanding - basic and diluted |
28,582 | 29,494 | 28,556 | 29,453 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
Aegerion Pharmaceuticals, Inc.
Condensed Consolidated Balance Sheets Information
(unaudited)
| (In 000s) | June 30, 2015 | December 31, 2014 | ||||||
| Cash, cash equivalents and marketable securities |
$ | 82,562 | $ | 375,937 | ||||
| Accounts receivable |
23,967 | 17,125 | ||||||
| Inventories |
58,641 | 9,510 | ||||||
| Prepaid expenses and other current assets |
9,965 | 4,852 | ||||||
| Property and equipment, net |
4,550 | 4,711 | ||||||
| Intangible assets and goodwill, net |
263,713 | — | ||||||
| Other assets |
6,254 | 5,322 | ||||||
|
|
|
|
|
|||||
| Total assets |
$ | 449,652 | $ | 417,457 | ||||
|
|
|
|
|
|||||
| Accounts payable and accrued liabilities |
$ | 47,947 | $ | 36,361 | ||||
| Long-term debt |
249,078 | 218,863 | ||||||
| Other noncurrent liabilities |
2,873 | 1,937 | ||||||
|
|
|
|
|
|||||
| Total liabilities |
299,898 | 257,161 | ||||||
| Total stockholders’ equity |
149,754 | 160,296 | ||||||
|
|
|
|
|
|||||
| Total liabilities and stockholders’ equity |
$ | 449,652 | $ | 417,457 | ||||
|
|
|
|
|
|||||
Aegerion Pharmaceuticals, Inc.
Reconciliation of GAAP to Non-GAAP Financial Information
(unaudited)
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| (In 000s) | 2015 | 2014 | 2015 | 2014 | ||||||||||||
| Net loss reconciliation: |
||||||||||||||||
| GAAP net loss |
$ | (11,150 | ) | $ | (9,622 | ) | $ | (26,975 | ) | $ | (25,398 | ) | ||||
| Stock based compensation |
7,209 | 7,966 | 14,368 | 16,489 | ||||||||||||
| Amortization of debt discount & deferred financing fees |
4,971 | 5 | 9,659 | 10 | ||||||||||||
| Amortization of acquired intangible assets |
4,952 | — | 10,187 | — | ||||||||||||
| Inventory fair value step-up in cost of product sales |
176 | — | 496 | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Non-GAAP net income/(loss) |
$ | 6,158 | $ | (1,651 | ) | $ | 7,735 | $ | (8,899 | ) | ||||||
|
|
|
|
|
|
|
|
|
|||||||||
| GAAP net loss per common share - basic and diluted |
$ | (0.39 | ) | $ | (0.33 | ) | $ | (0.94 | ) | $ | (0.86 | ) | ||||
|
|
|
|
|
|
|
|
|
|||||||||
| Non-GAAP net income/(loss) per common share - basic |
$ | 0.22 | $ | (0.06 | ) | $ | 0.27 | $ | (0.30 | ) | ||||||
|
|
|
|
|
|
|
|
|
|||||||||
| 28,582 | 29,494 | 28,556 | 29,453 | |||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Cost of product sales reconciliation: |
||||||||||||||||
| GAAP cost of product sales |
$ | 13,997 | $ | 4,158 | $ | 25,835 | $ | 6,822 | ||||||||
| Amortization of acquired intangible assets |
(4,952 | ) | — | (10,187 | ) | — | ||||||||||
| Inventory fair value step-up in cost of product sales |
(176 | ) | — | (496 | ) | — | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Non-GAAP cost of product sales |
$ | 8,869 | $ | 4,158 | $ | 15,152 | $ | 6,822 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Selling, general and administrative reconciliation: |
||||||||||||||||
| GAAP selling, general and administrative |
$ | 42,672 | $ | 32,330 | $ | 89,600 | $ | 64,109 | ||||||||
| Stock based compensation |
(6,139 | ) | (6,672 | ) | (12,308 | ) | (13,931 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Non-GAAP selling, general and administrative |
$ | 36,533 | $ | 25,658 | $ | 77,292 | $ | 50,178 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Research and development reconciliation: |
||||||||||||||||
| GAAP research and development |
$ | 12,471 | $ | 8,942 | $ | 22,269 | $ | 16,846 | ||||||||
| Stock based compensation |
(1,070 | ) | (1,294 | ) | (2,060 | ) | (2,558 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Non-GAAP research and development |
$ | 11,401 | $ | 7,648 | $ | 20,209 | $ | 14,288 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||