Intec Pharma Reports First Quarter 2019 Financial Results and Corporate Update

Tuesday, May 7, 2019 General News
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INTEC PHARMA LTD.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Three months ended

March 31

2019

2018

U.S. dollars in thousands

CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss

$     (10,656)

$     (10,729)

Adjustments required to reconcile net loss to net cash used in      operating activities:

Depreciation

218

206

Exchange differences on cash and cash equivalents

8

(40)

Right of use asset

163

Lease liability

(98)

-

Losses on marketable securities

-

73

Share-based compensation

943

723

Changes in operating assets and liabilities:

Decrease (increase) in prepaid expenses and other      receivables

340

(98)

Increase in deferred tax assets

(69)

-

Increase (decrease) in accounts payable and accruals

1,813

(390)

Increase in other liabilities

76

-

Net cash used in operating activities

(7,262)

(10,255)

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchase of property and equipment

(10)

(2,022)

Investment in other assets

(1,206)

-

Proceeds from disposal of marketable securities, net

576

46

Net cash used in investing activities

(640)

(1,976)

CASH FLOWS FROM FINANCING ACTIVITIES:

Proceeds from exercise of options

161

-

Net cash provided by financing activities

161

-

DECREASE IN CASH AND CASH EQUIVALENTS

(7,741)

(12,231)

CASH AND CASH EQUIVALENTS AT BEGINNING OF      THE PERIOD

39,246

53,393

EXCHANGE DIFFERENCES ON CASH AND CASH      EQUIVALENTS

(8)

40

CASH AND CASH EQUIVALENTS AT END OF THE      PERIOD

$        31,497

$        41,202

SUPPLEMENTAL DISCLOSURES OF NON-CASH     INVESTING AND FINANCING ACTIVITIES:

Liability with respect to property and equipment 

$             462

$                   -

Liability with respect to other assets

648

$                   -

Receivables with respect to exercise of options

$               96

$                   -

SUPPLEMENTARY DISCLOSURE OF CASH FLOW       INFORMATION:

Interest received

$             128

$              117



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