Medindia

X

Palatin Technologies, Inc. Reports Third Quarter Fiscal Year 2011 Results

Monday, May 16, 2011 General News J E 4
Advertisement

PALATIN TECHNOLOGIES, INC.

and Subsidiary

Consolidated Balance Sheets

(unaudited)

March 31,

2011

Pro-forma

March 31,  2011

June 30,

2010

ASSETS

Current assets:

 Cash and cash equivalents

$   22,032,649

$   22,032,649

$      5,405,430

 Available-for-sale investments

-

-

3,462,189

 Accounts receivable

-

-

2,879

 Prepaid expenses and other current assets

539,361

539,361

393,313

     Total current assets

22,572,010

22,572,010

9,263,811

Property and equipment, net

1,511,892

1,511,892

2,388,365

Restricted cash

350,000

350,000

475,000

Other assets

253,403

253,403

261,701

     Total assets

$   24,687,305

$   24,687,305

$    12,388,877

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

 Capital lease obligations

$          19,393

$          19,393

$           19,670

 Accounts payable

386,261

386,261

155,795

 Accrued compensation

211,941

211,941

-

 Unearned revenue

70,796

70,796

-

 Accrued expenses

1,208,920

1,208,920

2,219,466

     Total current liabilities

1,897,311

1,897,311

2,394,931

Capital lease obligations

-

-

14,284

Warrant liability

6,370,555

-

-

Deferred rent

258,161

258,161

661,389

     Total liabilities

8,526,027

2,155,472

3,070,604

Stockholders' equity:

 Preferred stock of $.01 par value – authorized 10,000,000 shares;

   Series A Convertible; issued and outstanding 4,997 shares as of March 31, 2011 and June 30, 2010, respectively

50

50

50

 Common stock of $.01 par value – authorized 40,000,000 shares; issued and outstanding 34,900,591 and 11,702,818 shares as of March 31, 2011 and June 30, 2010, respectively

349,006

349,006

117,028

 Additional paid-in capital

234,493,100

240,863,655

218,236,723

 Accumulated other comprehensive income

-

-

138,650

 Accumulated deficit

(218,680,878)

(218,680,878)

(209,174,178)

     Total stockholders' equity

16,161,278

22,531,833

9,318,273

     Total liabilities and stockholders' equity

$   24,687,305

$   24,687,305

$    12,388,877

Advertisement


Advertisement

You May Also Like

Advertisement
View All

Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
User Avatar
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions
s
Nile Therapeutics Reports 2011 First Quarter Finan...
S
Biostar Pharmaceuticals, Inc. Reports First Quarte...