1998
Financial Statements
| The following information is excerpted from Noven's 1998 Annual Report to Shareholders. |
|
BackStatement
of Operations
Years
Ended December 31,
(in thousands except per share amounts)
| Revenues: |
1998 |
1997 |
1996 |
| Product sales (includes $5,611 Vivelle Ventures LLC sales in 1998) |
$20,114 |
$ 12,395 |
$19,652 |
| License revenue |
1,728 |
1,872 |
815 |
| Total revenues |
21,842 |
14,267 |
20,467 |
| Expenses:
Cost of products sold |
9,447 |
5,180 |
10,021 |
| Research and development |
6,808 |
9,723 |
8,730 |
| Marketing, general and administrative |
10,105 |
9,845 |
4,878 |
| Total operating costs and expenses |
26,360 |
24,748 |
23,629 |
| Loss from operations |
(4,518) |
(10,481) |
(3,162) |
| Interest income, net |
439 |
893 |
1,178 |
| Other income |
— |
31 |
— |
| Net loss |
$ (4,079) |
$ (9,557) |
$ (1,984) |
| Basic and diluted loss per share |
$ (0.19) |
$ (0.47) |
$ (0.10) |
| Adjusted weighted average of common stock |
21,013 |
20,159 |
19,800 |
See accompanying notes to financial statements.
Copyright © 1999 Noven Pharmaceuticals, Inc. All rights reserved.