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: 2013 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 13, 2014) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Income Statement [Abstract] | |||
| Revenues: | |||
| Net product sales | $ 1,425,839 | 858,093 | 44,686 |
| Sanofi collaboration revenue | 430,111 | 423,814 | 326,609 |
| Bayer HealthCare collaboration revenue | 220,289 | 70,099 | 43,072 |
| Technology licensing and other revenue | 28,506 | 26,471 | 31,457 |
| Total revenues | 2,104,745 | 1,378,477 | 445,824 |
| Expenses: | |||
| Research and development | 859,947 | 625,554 | 529,506 |
| Selling, general, and administrative | 329,415 | 210,755 | 117,261 |
| Cost of goods sold | 118,048 | 83,927 | 4,216 |
| Cost of collaboration manufacturing | 37,307 | 528 | 0 |
| Total expenses | 1,344,717 | 920,764 | 650,983 |
| Income (loss) from operations | 760,028 | 457,713 | (205,159) |
| Other income (expense): | |||
| Investment (expense) income | (231) | 2,012 | 3,549 |
| Interest expense | (46,437) | (45,304) | (21,282) |
| Total other income (expense) | (46,668) | (43,292) | (17,733) |
| Income (loss) before income taxes | 713,360 | 414,421 | (222,892) |
| Income tax (expense) benefit | (288,998) | 335,848 | 1,132 |
| Net income (loss) | 424,362 | 750,269 | (221,760) |
| Net income (loss) per share - basic | 4.33 | 7.92 | (2.45) |
| Net income (loss) per share - diluted | 3.81 | 6.75 | (2.45) |
| Weighted average shares outstanding - basic | 97,917 | 94,685 | 90,610 |
| Weighted average shares outstanding - diluted | 111,290 | 115,382 | 90,610 |
| Statements of Comprehensive Income (Loss) | |||
| Net income (loss) | 424,362 | 750,269 | (221,760) |
| Other comprehensive income (loss): | |||
| Unrealized (loss) gain on marketable securities, net of tax | (22) | 696 | 629 |
| Comprehensive income (loss) | 424,340 | 750,965 | (221,131) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
REGENERON PHARMACEUTICALS, INC. | |||
Ticker: REGN Fiscal Year: 2013 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 13, 2014) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Cash flows from operating activities: | |||
| Net income (loss) | $ 424,362 | 750,269 | (221,760) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 41,204 | 36,940 | 31,082 |
| Non-cash compensation expense | 198,399 | 94,157 | 56,094 |
| Non-cash interest expense | 23,061 | 22,925 | 5,101 |
| Other non-cash charges and expenses, net | 23,690 | 34,049 | 6,714 |
| Deferred taxes | 63,601 | (340,156) | 0 |
| Changes in assets and liabilites | |||
| Increase in Sanofi and trade accounts receivable | (198,658) | (590,085) | (21,118) |
| Increase in Inventories | (47,956) | (28,932) | (14,094) |
| (Increase) decrease in prepaid expenses and other assets | (52,765) | (23,684) | 6,612 |
| Decrease in deferred revenue | (27,974) | (41,077) | (40,329) |
| Increase in accounts payable, accrued expenses and other liabilities | 136,684 | 10,979 | 50,016 |
| Total adjustments | 159,286 | (824,884) | 80,078 |
| Net cash provided by (used in) operating activities | 583,648 | (74,615) | (141,682) |
| Cash flows from investing activities: | |||
| Purchases of marketable securities | (577,278) | (470,393) | (240,391) |
| Sales or maturities of marketable securities | 378,146 | 439,209 | 426,356 |
| Purchase of restricted cash and marketable securities | 0 | (552) | (277) |
| Capital expenditures | (156,323) | (49,337) | (57,217) |
| Net cash (used in) provided by investing activities | (355,455) | (81,073) | 128,471 |
| Cash flows from financing activities: | |||
| Payments in connection with facility and capital lease obligations | (2,024) | (2,203) | (1,667) |
| Proceeds from issuance of Common Stock | 57,393 | 63,549 | 43,587 |
| Payments in connection with Common Stock tendered for employee tax obligations | (195,087) | (163,300) | (25,078) |
| Excess tax benefit from stock-based compensation | 216,857 | 4,308 | 0 |
| Proceeds in connection with issuance of convertible notes, net of debt issuance costs | 0 | 0 | 391,107 |
| Proceeds in connection with issuance of warrants | 0 | 0 | 93,800 |
| Payment in connection with purchase of convertible note hedges | 0 | 0 | (117,500) |
| Net cash provided by (used in) by financing activities | 77,139 | (97,646) | 384,249 |
| Net increase (decrease) in cash and cash equivalents | 305,332 | (253,334) | 371,038 |
| Cash and cash equivalents at beginning of period | 230,276 | 483,610 | |
| Cash and cash equivalents at end of period | 535,608 | 230,276 | 483,610 |
| Supplemental disclosure of cash flow information | |||
| Cash paid for interest | 23,842 | 21,946 | 14,725 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
REGENERON PHARMACEUTICALS, INC. | ||
Ticker: REGN Fiscal Year: 2013 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2013 10-K (Filed: Feb 13, 2014) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2013 | Dec 31, 2012 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 535,608 | 230,276 |
| Marketable securities | 158,376 | 77,819 |
| Accounts receivable - trade, net | 787,071 | 593,207 |
| Accounts receivable from Sanofi | 104,707 | 99,913 |
| Inventories | 70,354 | 28,638 |
| Deferred tax assets | 44,677 | 148,134 |
| Prepaid expenses and other current assets | 96,141 | 28,025 |
| Total current assets | 1,796,934 | 1,206,012 |
| Restricted cash and marketable securities | 0 | 8,186 |
| Marketable securities | 389,891 | 271,230 |
| Property, plant, and equipment, at cost, net of accumulated depreciation and amortization | 526,983 | 379,940 |
| Deferred tax assets | 231,878 | 192,022 |
| Other assets | 5,327 | 23,100 |
| Total assets | 2,951,013 | 2,080,490 |
| LIABILITIES and STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable and accrued expenses | 250,896 | 111,345 |
| Deferred revenue from Sanofi, current portion | 12,815 | 17,022 |
| Deferred revenue - other, current portion | 34,185 | 33,809 |
| Facility lease obligations, current portion | 939 | 1,374 |
| Total current liabilities | 298,835 | 163,550 |
| Deferred revenue from Sanofi | 76,522 | 76,520 |
| Deferred revenue - other | 107,677 | 131,822 |
| Facility lease obligations | 184,258 | 159,436 |
| Convertible senior notes | 320,315 | 296,518 |
| Other long term liabilities | 11,330 | 7,259 |
| Total liabilities | 998,937 | 835,105 |
| Commitments and contingencies (Note 13) | ||
| Stockholders' equity: | ||
| Preferred Stock | 0 | 0 |
| Additional paid-in capital | 2,045,857 | 1,763,508 |
| Accumulated deficit | (92,692) | (517,054) |
| Accumulated other comprehensive loss | (1,188) | (1,166) |
| Total stockholders' equity | 1,952,076 | 1,245,385 |
| Total liabilities and stockholders' equity | 2,951,013 | 2,080,490 |
| Class of Stock | ||
| Class A Stock | ||
| Common stock | 2 | 2 |
| Common Stock | ||
| Common stock | 97 | 95 |
| External Links | |
| REGENERON PHARMACEUTICALS, INC. (REGN) Fiscal Year 2013 | |
| 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 |