10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
REGENERON PHARMACEUTICALS, INC. | |||
Ticker: REGN Fiscal Year: 2012 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 15, 2013) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Income Statement [Abstract] | |||
| Revenues: | |||
| Net product sales | $ 858,093 | 44,686 | 25,254 |
| Sanofi collaboration revenue | 423,814 | 326,609 | 311,332 |
| Bayer HealthCare collaboration revenue | 70,099 | 43,072 | 75,393 |
| Technology licensing | 23,571 | 24,858 | 40,150 |
| Contract research and other | 2,900 | 6,599 | 6,945 |
| Total revenues | 1,378,477 | 445,824 | 459,074 |
| Expenses: | |||
| Research and development | 625,554 | 529,506 | 489,252 |
| Selling, general, and administrative | 210,755 | 117,261 | 65,201 |
| Cost of goods sold | 84,455 | 4,216 | 2,093 |
| Total expenses | 920,764 | 650,983 | 556,546 |
| Income (loss) from operations | 457,713 | (205,159) | (97,472) |
| Other income (expense): | |||
| Investment income | 2,012 | 3,549 | 2,122 |
| Interest expense | (45,304) | (21,282) | (9,118) |
| Total other income (expense) | (43,292) | (17,733) | (6,996) |
| Income (loss) before income taxes | 414,421 | (222,892) | (104,468) |
| Income tax benefit | 335,848 | 1,132 | |
| Net income (loss) | 750,269 | (221,760) | (104,468) |
| Net income (loss) per share - basic (in dollars per share) | 7.92 | (2.45) | (1.26) |
| Net income (loss) per share - diluted (in dollars per share) | 6.75 | (2.45) | (1.26) |
| Weighted average shares outstanding - basic (in shares) | 94,685 | 90,610 | 82,926 |
| Weighted average shares outstanding - diluted (in shares) | 115,382 | 90,610 | 82,926 |
| Statements of Comprehensive Income (Loss) | |||
| Net income (loss) | 750,269 | (221,760) | (104,468) |
| Other comprehensive income (loss): | |||
| Unrealized gain (loss) on marketable securities, net of tax | 696 | 629 | (3,535) |
| Comprehensive income (loss) | 750,965 | (221,131) | (108,003) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
REGENERON PHARMACEUTICALS, INC. | |||
Ticker: REGN Fiscal Year: 2012 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 15, 2013) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Cash flows from operating activities: | |||
| Net income (loss) | $ 750,269 | (221,760) | (104,468) |
| Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: | |||
| Depreciation and amortization | 36,940 | 31,082 | 19,687 |
| Non-cash compensation expense | 94,157 | 56,094 | 39,897 |
| Non-cash interest expense | 22,925 | 5,101 | 43 |
| Other non-cash charges and expenses, net | 34,049 | 6,224 | 4,037 |
| Deferred taxes | (340,156) | ||
| Changes in assets and liabilites | |||
| Increase in Sanofi and trade accounts receivable | (590,085) | (21,118) | (17,518) |
| Increase in prepaid expenses and other assets | (52,616) | (6,992) | (8,212) |
| (Decrease) increase in deferred revenue | (41,077) | (40,329) | 158,151 |
| Increase in accounts payable, accrued expenses and other liabilities | 10,979 | 50,016 | 7,605 |
| Total adjustments | (824,884) | 80,078 | 203,690 |
| Net cash (used in) provided by operating activities | (74,615) | (141,682) | 99,222 |
| Cash flows from investing activities: | |||
| Purchases of marketable securities | (470,393) | (240,391) | (605,124) |
| Sales or maturities of marketable securities | 439,209 | 426,356 | 273,723 |
| Increase in restricted cash and marketable securities | (552) | (277) | (5,941) |
| Capital expenditures | (49,337) | (57,217) | (99,689) |
| Net cash(used in) provided by investing activities | (81,073) | 128,471 | (437,031) |
| Cash flows from financing activities: | |||
| Proceeds in connection with facility lease obligation | 47,544 | ||
| Payments in connection with facility and capital lease obligations | (2,203) | (1,667) | (1,028) |
| Proceeds in connection with issuance of convertible notes, net of debt issuance costs | 391,107 | ||
| Proceeds in connection with issuance of warrants | 93,800 | ||
| Payment in connection with purchase of convertible note hedges | (117,500) | ||
| Net proceeds from issuance of Common Stock | 63,549 | 43,587 | 200,588 |
| Payments in connection with Common Stock tendered for employee tax obligations | (163,300) | (25,078) | (3,798) |
| Excess tax benefit from stock-based compensation | 4,308 | ||
| Net cash (used in) provided by financing activities | (97,646) | 384,249 | 243,306 |
| Net (decrease) increase in cash and cash equivalents | (253,334) | 371,038 | (94,503) |
| Cash and cash equivalents at beginning of period | 483,610 | 112,572 | |
| Cash and cash equivalents at end of period | 230,276 | 483,610 | 112,572 |
| Supplemental disclosure of cash flow information | |||
| Cash paid for interest | 21,946 | 14,725 | 12,737 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
REGENERON PHARMACEUTICALS, INC. | ||
Ticker: REGN Fiscal Year: 2012 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2012 10-K (Filed: Feb 15, 2013) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2012 | Dec 31, 2011 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 230,276 | 483,610 |
| Marketable securities | 77,819 | 43,332 |
| Accounts receivable - trade, net | 593,207 | 28,254 |
| Accounts receivable from Sanofi | 99,913 | 74,781 |
| Deferred tax assets | 148,134 | |
| Prepaid expenses and other current assets | 56,663 | 35,800 |
| Total current assets | 1,206,012 | 665,777 |
| Restricted cash and marketable securities | 8,186 | 7,721 |
| Marketable securities | 271,230 | 275,887 |
| Property, plant, and equipment, at cost, net of accumulated depreciation and amortization | 379,940 | 367,955 |
| Deferred tax assets | 192,022 | |
| Other assets | 23,100 | 6,243 |
| Total assets | 2,080,490 | 1,323,583 |
| LIABILITIES and STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable and accrued expenses | 111,345 | 95,625 |
| Deferred revenue from Sanofi, current portion | 17,022 | 20,011 |
| Deferred revenue - other, current portion | 33,809 | 31,629 |
| Facility lease obligations, current portion | 1,374 | 1,006 |
| Total current liabilities | 163,550 | 148,271 |
| Deferred revenue from Sanofi | 76,520 | 86,017 |
| Deferred revenue - other | 131,822 | 162,593 |
| Facility lease obligations | 159,436 | 159,508 |
| Convertible senior notes | 296,518 | 275,019 |
| Other long term liabilities | 7,259 | 6,443 |
| Total liabilities | 835,105 | 837,851 |
| Commitments and contingencies (Note 13) | ||
| Stockholders' equity: | ||
| Preferred stock, $.01 par value; 30,000,000 shares authorized; issued and outstanding - none | ||
| Additional paid-in capital | 1,763,508 | 1,754,824 |
| Accumulated deficit | (517,054) | (1,267,323) |
| Accumulated other comprehensive loss | (1,166) | (1,862) |
| Total stockholders' equity | 1,245,385 | 485,732 |
| Total liabilities and stockholders' equity | 2,080,490 | 1,323,583 |
| Class of Stock | ||
| Class A Stock, convertible, $.001 par value; 40,000,000 shares authorized; shares issued and outstanding - 2,069,187 at December 31, 2012 and 2,109,512 at December 31, 2011 | ||
| Common stock | 2 | 2 |
| Common Stock, $.001 par value; 160,000,000 shares authorized; shares issued and outstanding - 95,223,525 at December 31, 2012 and 90,692,071 at December 31, 2011 | ||
| Common stock | 95 | 91 |
| External Links | |
| REGENERON PHARMACEUTICALS, INC. (REGN) Fiscal Year 2012 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |