Printer Friendly

CEPHALON ANNOUNCES 1992 FINANCIAL RESULTS

 WEST CHESTER, Pa., Feb. 9 /PRNewswire/ -- Cephalon Inc. (NASDAQ: CEPH) today reported a loss of $7.2 million ($0.80 per share) for the year ended Dec. 31, 1992, as compared to a loss of $2.0 million ($0.26 per share) reported for 1991. For the fourth quarter ending Dec. 31, 1992, the Company reported a loss of $3.0 million ($0.33 per share), as compared to a loss of $2.0 million ($0.23 per share) for the same 1991 period.
 Year end results reflect a 80 percent increase in revenue, resulting primarily from a research and development agreement with Cephalon Clinical Partners, L.P., which is funding the development and clinical testing of Myotrophin(TM), to treat amyotrophic lateral sclerosis (RALSS or Lou Gehrig's disease) and peripheral neuropathy in the United States and Europe. In the 1992 annual period, the company incurred operating expenses of $19.3 million compared to $9.7 million in 1991. This increase results primarily from increases in research, administration and development costs, including costs associated with the development of Myotrophin, which entered clinical testing during 1992. As of Dec. 31, 1992, Cephalon had a cash and investments balance of $43.8 million and long-term debt of $12.0 million resulting from the November 1992 acquisition of a new 20,000 square foot manufacturing facility, in Beltsville, Md.
 Cephalon discovers and develops pharmaceutical products for the treatment of neurological diseases and disorders. The Company's primary focus is on neurodegenerative diseases, which are characterized by the death of neurons, the specialized conducting cells of the nervous system. The company has concentrated its research and development efforts on the prevention of neuronal death in several disorders, including ALS and peripheral neuropathy, Alzheimer's disease, head and spinal cord injury, and stroke.
 CEPHALON, INC. AND SUBSIDIARIES
 Consolidated Statements of Operations
 (amounts in thousands, except per share)
 Periods ended Three months Year
 Dec. 31, 1992 1991 1992 1991
 Revenues $ 3,127 $ -- $ 9,057 $ 5,040
 Expenses:
 R&D 5,853 2,533 16,271 7,715
 Gen. & admin. 870 448 3,043 1,981
 6,723 2,981 19,314 9,696
 Loss from Operations (3,596) (2,981) (10,257) (4,656)
 Interest Income (net) 601 1,025 3,102 2,695
 Loss $(2,995) $(1,956) $(7,155) $(1,961)
 Loss per Share $ (0.33) $ (0.23) $ (0.80) $ (0.26)
 Wtd. Avg. Shares
 Outstg. 8,970 8,679 8,913 7,639
 Selected Balance Sheet Data
 (Amounts In Thousands)
 Dec. 31, 1992 1991
 Cash, Cash Equiv. & Investments $ 43,847 $ 58,833
 Total Assets 71,061 61,691
 Long-term Debt, net of
 current portion 12,010 --
 Accumulated Deficit (16,378) (9,223)
 Stockholders' Equity $ 56,733 $ 60,857
 -0- 2/9/93
 /CONTACT: Lyn Hyduke, assistant director - corporate communications of Cephalon, Inc., 215-344-0200, or Lilian S. Stern of Burns McClellan, 212-545-1919, for Cephalon/
 (CEPH)


CO: Cephalon Inc. ST: Pennsylvania IN: MTC SU: ERN

SH -- NY019 -- 4511 02/09/93 09:42 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 9, 1993
Words:497
Previous Article:RAYONIER TIMBERLANDS, L.P. ANNOUNCES INCREASE IN QUARTERLY CASH DISTRIBUTION
Next Article:CEPHALON, INC. FILES FOR PROPOSED PUBLIC OFFERING
Topics:


Related Articles
CEPHALON NAMES VICE PRESIDENT OF DRUG DEVELOPMENT
CEPHALON, INC.'S MYOTROPHIN(TM) DEMONSTRATES SAFETY IN PHASE I TRIALS
CEPHALON, INC. ANNOUNCES THIRD QUARTER 1992 FINANCIAL RESULTS
CEPHALON LICENSES NOVEL PRODUCT TO TREAT NARCOLEPSY FROM LABORATOIRE L. LAFON
CEPHALON ANNOUNCES CASH OFFER TO PURCHASE R&D PARTNERSHIP INTERESTS
MYOTROPHIN CLINICAL TRIAL DATA TO BE PRESENTED AT MEETINGS IN DUBLIN, IRELAND, AND WASHINGTON, DC
Cephalon Inc. Invites You to Join Them on a Live Conference Call for Third Quarter 2000 Financial Results.
Cephalon, Inc. Completes Acquisition of Salmedix, Inc.
Cephalon, Inc. Completes Acquisition of Zeneus Holdings Limited.
Cephalon Appoints Ambassador Kevin E. Moley to Board of Directors.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters