State
of New
York
|
1-10113
|
11-0853640
|
(State
of Other Jurisdiction
|
(Commission
File Number)
|
(I.R.S.
Employer
|
of
Incorporation)
|
Identification
Number)
|
Exhibit
Number
|
Description |
99.1 | Press Release dated March 15, 2007 Announcing Results for Fourth Quarter and Year Ended December 31, 2006. |
ACURA PHARMACEUTICALS, INC. | ||
|
|
|
By: | /s/ Peter A. Clemens | |
Peter A. Clemens |
||
Senior Vice President & Chief Financial Officer |
Exhibit
Number
|
Description |
99.1 | Press Release dated March 15, 2007 Announcing Results for Fourth Quarter and Year Ended December 31, 2006. |
ACURA
PHARMACEUTICALS, INC.
|
||
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
||
(in
thousands)
|
(audited)
|
|||||||
at
December 31
|
|||||||
2006
|
2005
|
||||||
Current
Assets
|
$
|
467
|
$
|
444
|
|||
Property,
Plant and Equipment, net
|
1,145
|
1,341
|
|||||
Other
Assets
|
7
|
7
|
|||||
Total
Assets
|
$
|
1,619
|
$
|
1,792
|
|||
Accrued
Expenses
|
328
|
341
|
|||||
Stock
Warrants
|
10,784
|
-
|
|||||
Debt,
net
|
28,787
|
7,613
|
|||||
Stockholders'
Deficit
|
(38,280
|
)
|
(
6,162
|
)
|
|||
Total
Liabilities and Stockholders' Deficit
|
$
|
1,619
|
$
|
1,792
|
ACURA
PHARMACEUTICALS, INC.
|
||||
CONSOLIDATED
STATEMENTS OF OPERATIONS
|
||||
(in
thousands, except per share
data)
|
(audited)
Twelve
Mths Ended 12/31
|
(unaudited)
Three
Mths Ended 12/31
|
||||||||||||
Operating
Costs
|
2006
|
2005
|
2006
|
2005
|
|||||||||
Research
and Development
|
$
|
5,172
|
$
|
6,265
|
$
|
997
|
$
|
3,738
|
|||||
Marketing,
General and Administrative
|
5,654
|
5,296
|
900
|
3,176
|
|||||||||
Loss
from Operations
|
(10,826
|
)
|
(11,561
|
)
|
(1,897
|
)
|
(6,914
|
)
|
|||||
Other
(Expense) Income
|
|||||||||||||
Interest
Expense
|
(1,140
|
)
|
(636
|
)
|
(341
|
)
|
(202
|
)
|
|||||
Interest
Income
|
18
|
36
|
4
|
6
|
|||||||||
Amortization
of Debt Discount
|
(183
|
)
|
-
|
(183
|
)
|
-
|
|||||||
Gain
on Fair Value Change of
Conversion
Features
|
4,235
|
-
|
4,235
|
-
|
|||||||||
Gain
on Fair Value Change of
Common
Stock Warrants
|
2,164
|
-
|
2,164
|
-
|
|||||||||
(Loss)
Gain on Asset Disposals
|
(22
|
)
|
81
|
(71
|
)
|
(4
|
)
|
||||||
Other
|
(213
|
)
|
5
|
(10
|
)
|
4
|
|||||||
Total
Other (Expense) Income
|
4,859
|
(514
|
)
|
5,798
|
(196
|
)
|
|||||||
Net
(Loss) Income
|
$
|
(5,967
|
)
|
$
|
(12,075
|
)
|
$
|
3,900
|
$
|
(7,110
|
)
|
||
Basic
and Diluted Loss Per Common Share
Applicable
to Common Stockholders
|
$
|
(0.08
|
)
|
$
|
(0.18
|
)
|
$
|
(0.04
|
)
|
$
|
(0.04
|
)
|
|
Weighted
Average Number of
Outstanding
Common Shares
|
344,959
|
66,799
|
348,643
|
196,149
|