SEC Filings

8-K
PERNIX THERAPEUTICS HOLDINGS, INC. filed this Form 8-K on 11/13/2018
Entire Document
 

PERNIX THERAPEUTICS HOLDINGS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Operations
(In thousands, except per share data)
(Unaudited)

  

      Three Months Ended     Nine Months Ended
      September 30,     September 30,
      2018     2017     2018     2017
                         
Net revenues   $ 37,156    $ 40,469    $ 86,383    $ 104,527 
                         
Costs and operating expenses:                        
     Cost of product sales     11,823      10,580      26,353      31,113 
     Selling, general and administrative expense     31,872      20,226      67,412      59,519 
     Research and development expense     1,524      99      1,534      709 
     Depreciation and amortization expense     2,391      18,214      13,686      54,976 
     Change in fair value of contingent consideration         884      143      344 
     Loss from disposal and impairments of assets     75      25      75      25 
     Gain from legal settlement         (10,476)         (10,476)
     Restructuring costs     (2)     (97)     1,212      34 
          Total costs and operating expenses     47,683      39,455      110,415      136,244 
                         
Income (loss) from operations     (10,527)     1,014      (24,032)     (31,717)
                         
Other income (expense):                        
     Interest expense, net     (10,073)     (9,323)     (29,063)     (27,491)
     Gain on sale of assets             446     
     Change in fair value of derivative liability     18      46      39      (38)
     Gain from exchange of debt     137      14,650      137      14,650 
     Foreign currency transaction (loss) gain     (843)         (864)    
          Total other income (expense), net     (10,761)     5,373      (29,305)     (12,879)
                         
Income (loss) before income tax expense     (21,288)     6,387      (53,337)     (44,596)
Income tax expense     61      27      109      122 
Net income (loss)     (21,349)     6,360      (53,446)     (44,718)
Adjust: Net loss attributable to noncontrolling interests      9,504          9,504     
Net income (loss) attributable to common stockholders   $ (11,845)   $ 6,360    $ (43,942)   $ (44,718)
                         
Net income (loss) per common share attributable to common stockholders:                        
     Basic   $ (0.89)   $ 0.57    $ (3.55)   $ (4.31)
     Diluted   $ (0.89)   $ 0.42    $ (3.55)   $ (4.31)
                         
Weighted-average common shares outstanding:                        
     Basic     13,301      11,117      12,377      10,387 
     Diluted     13,301      16,520      12,377      10,387