Intec Pharma Reports Second Quarter 2019 Financial Results and Business Update

Friday, August 9, 2019 General News
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INTEC PHARMA LTD. 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 

(Unaudited) 

Six months ended June 30

2019

2018

U.S. dollars in thousands

CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss

$     (20,665)

$     (21,762)

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

Depreciation

431

416

Exchange differences on cash and cash equivalents

(19)

(368)

Right of use asset

351

-

Lease liability

(243)

-

Losses (gains) on marketable securities

(5)

154

Share-based compensation

1,961

1,601

Changes in operating assets and liabilities:

Increase in prepaid expenses and other receivables

(136)

(502)

Increase in deferred tax assets

(148)

-

Increase in accounts payable and accruals

583

606

Increase in other liabilities

163

-

Net cash used in operating activities

(17,727)

(19,855)

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchase of property and equipment

(151)

(2,613)

Investment in other assets

(1,435)

(1,696)

Proceeds from disposal of marketable securities, net

576

1

Net cash used in investing activities

(1,010)

(4,308)

CASH FLOWS FROM FINANCING ACTIVITIES:

Proceeds from issuance of ordinary shares, net of issuance      costs

-

35,029

Proceeds from exercise of options

268

1

Net cash provided by financing activities

268

35,030

DECREASE IN CASH AND CASH EQUIVALENTS

(18,469)

10,867

CASH AND CASH EQUIVALENTS AT BEGINNING OF      THE PERIOD

39,246

53,393

EXCHANGE DIFFERENCES ON CASH AND CASH      EQUIVALENTS

19

368

CASH AND CASH EQUIVALENTS AT END OF THE      PERIOD

$        20,796

$        64,628

SUPPLEMENTAL DISCLOSURES OF NON-CASH      INVESTING AND FINANCING ACTIVITIES:

 Liability with respect to property and equipment 

$             502

$         1,740

 Liability with respect to other assets

$           1,114

$                 -

SUPPLEMENTARY DISCLOSURE OF CASH FLOW INFORMATION -

Taxes paid

$              50

$              31

Interest received

$            263

$           209



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