Server: Microsoft-IIS/3.0 Date: Thu, 18 Dec 1997 17:57:23 GMT Content-Type: text/html Accept-Ranges: bytes Last-Modified: Wed, 12 Nov 1997 19:11:29 GMT Content-Length: 13831 NTI Financial Information

Financial Information

As of September 30, 1997 Neurobiological Technologies, Inc. (Nasdaq: NTII) had cash and cash equivalents of $2.3 million and no long-term debt. The company's cash and investments are expected to fund operations through the quarter ending December 31, 1997. The company will need to raise substantial capital to fund subsequent operations.

The company reported a net loss of $1,276,000, or $0.20 per share, for its quarter ended September 30, 1997. This compares to a net loss of $1,734,000, or $0.27 per share, for the same quarter a year ago. For the fiscal year ended June 30, 1997, the net loss was $7,369,000, or $1.13 per share, compared to a net loss of $5,211,000, or $1.05 per share, for the year ended June 30, 1996.

STATEMENT OF OPERATIONS

(Unaudited)

Three Months Ended

Year Ended

 

September 30,

June 31,

 

 

 

1997

 

 

1996

 

 

1997

 

 

1996

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$

43,000

 

$

138,000

 

$

407,000

 

$

506,000

Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

 

698,000

 

 

1,534,000

 

 

5,478,000

 

 

4,320,000

General and administrative

 

 

621,000

 

 

376,000

 

 

2,298,000

 

 

1,397,000

Total expenses

 

 

1,319,000

 

 

1,910,000

 

 

7,776,000

 

 

5,717,000

Net loss

 

$

(1,276,000

)

$

(1,753,000

$

(7,369,000

$

(5,211,000)

Net loss per share

 

$

(0.20

$

(0.27

$

(1.13

$

(1.05)

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares used in net loss per share calculation

 

 

6,540,314

 

 

6,504,982

 

 

6,527,392

 

 

4,985,229

SELECTED BALANCE SHEET DATA

 

 

September 30,

 

 

June 30,

 

 

 

1997

 

 

1997

Cash and investments

 

$

2,337,000

 

$

3,838,000

Working capital

 

 

1,769,000

 

 

3,013,000

Total assets

 

 

2,617,000

 

 

4,207,000

Deficit accumulated during development stage

 

 

(27,448,000)

 

 

(26,172,000)

Stockholders' equity

 

$

1,935,000

 

$

3,211,000

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