Results Driven by 60% Growth in
Revenue
Sucampo Pharmaceuticals, Inc. (Sucampo) (NASDAQ:SCMP), a global
biopharmaceutical company, today reported consolidated financial
results for the first quarter ended March 31, 2016.
Summary of Results |
Q1-16 |
% Increase / Decrease over Q1-15 |
Revenue |
$47.2M |
|
60 |
% |
Net Loss GAAP |
($4.1M) |
|
(163 |
%) |
EPS GAAP – diluted |
($ |
0.10 |
) |
|
(168 |
%) |
EBITDA |
$14.6M |
|
50 |
% |
Adjusted Net Income |
$9.0M |
|
40 |
% |
Adjusted EPS – diluted |
$ |
0.21 |
|
|
48 |
% |
Adjusted EBITDA |
$20.2M |
|
87 |
% |
“Following the strong finish to 2015, Sucampo
continued its solid execution in the first quarter of 2016 with
results demonstrating continued financial performance and the
continuation of value from the R-Tech Ueno acquisition,” said Peter
Greenleaf, Chairman and Chief Executive Officer of Sucampo.
“While key priorities in 2016 remain executing additional
high-quality acquisitions that will be accretive as well as
continuing to diversify our pipeline, we also expect to complete
several milestones with our internal pipeline.”
For the three months ended March 31, 2016,
Sucampo reported year-over-year total revenue growth of 60% to
$47.2 million. Revenue for the quarter included an additional
$12.4 million as a result of the R-Tech Ueno acquisition. Excluding
this additional revenue from the acquisition, base revenue grew by
18%. Product sales revenue increased to $26.6 million,
representing 139% year-over-year growth, and product royalty
revenue grew 6% year-over-year to $16.7 million.
Sucampo reported adjusted net income of $9.0
million, or $0.21 per diluted share, during the first quarter of
2016, compared to adjusted net income of $6.4 million, or $0.14 per
diluted share, during the first quarter of 2015, an increase of
40.0% and 48% respectively. There were no adjustments to results in
the first quarter of 2015. On a GAAP basis, Sucampo reported a net
loss of $4.1 million and diluted loss per share of $0.10 during the
first quarter of 2016.
First Quarter 2016 Operational
Review
AMITIZA
United States
- AMITIZA total prescriptions were 360,171 in the first quarter
of 2016, as reported by IMS, an increase of 5% compared to the
first quarter of 2015. Net sales of AMITIZA, reported by Takeda
Pharmaceuticals U.S.A., Inc. (Takeda) for royalty calculation
purposes, increased 4.8% to $91.7 million for the first quarter of
2016, compared to $87.5 million in the same period of 2015.
Royalty revenue was $16.5 million compared to $15.7 million, an
increase of 5.1%. Also included in first quarter revenue are Takeda
AMITIZA sales from R-Tech Ueno of $9.2 million.
Global Markets
- In Japan, Sucampo's revenue from sales of AMITIZA to Mylan N.V.
increased 30.6% to $14.5 million for the first quarter of 2016,
compared to $11.1 million in the same period of 2015.
Corporate
- In January 2016, Sucampo completed its investment in Cancer
Prevention Pharmaceuticals (CPP). Together with its investment in
CPP, the Company entered into an option and collaboration agreement
under which CPP has granted Sucampo the sole option to acquire an
exclusive license to commercialize the combination product
CPP-1X/sulindac in North America. This product is currently in a
phase 3 clinical trial for the treatment of familial adenomatous
polyposis (FAP), which has been designated as an orphan indication
in the United States and Europe. Enrollment in the study is
expected to be complete in the first half of 2016 and the trial is
expected to conclude in 2018, with the potential for approval as
early as 2019.
Research and Development
- An ongoing phase 3 trial of AMITIZA in pediatric functional
constipation in children six to seventeen years of age completed
enrollment during April. Top-line data from this trial and a
new drug application (NDA) filing are expected in the second half
of this year, with the potential for approval in the second half of
2017.
- Sucampo announced top-line data from a Phase 2a study of
cobiprostone in patients with proton pump inhibitor
(PPI)-refractory non-erosive reflux disease (NERD) or symptomatic
gastroesophageal reflux disease (sGERD). Overall, the study
did not meet its primary endpoints and, based on these data,
Sucampo intends to discontinue development of cobiprostone for
PPI-refractory NERD/sGERD. However, Sucampo plans to continue
development of cobiprostone for the prevention of oral mucositis –
a disorder with very different underlying pathophysiology and
clinical endpoints. The compound is currently in phase 2a
development in this indication, and the development plan includes a
futility analysis on that trial in the second half of this
year.
First Quarter 2016 Financial
Review
- Adjusted net income was $9.0 million, or $0.21 per diluted
share, during the first quarter of 2016, compared to net income of
$6.4 million and diluted EPS of $0.14 in the same period in 2015.
On a GAAP basis, Sucampo reported a net loss of $4.1 million
and a diluted loss per share of $0.10 during the first quarter of
2016.
- Adjusted EBITDA, defined as net income before interest, taxes,
depreciation, amortization, stock-based compensation expense,
restructuring and intangible impairment, was $20.2 million for the
first quarter of 2016 compared to $10.8 million in the same period
in 2015, an increase of 87.1%.
- Total revenues were $47.2 million for the first quarter of 2016
compared to $29.5 million in the same period in 2015, an increase
of $17.7 million or 60%. The increase was primarily due to the
inclusion of R-Tech Ueno results and higher Mylan product sales in
Japan.
- Costs of goods sold were $23.3 million for the first quarter of
2016 compared to $6.1 million for the same period in 2015, an
increase of $17.2 million or 282%. The increase was primarily due
to the amortization of the R-Tech Ueno inventory step-up and
acquired intangible asset amortization. Excluding the step-up of
inventory and intangible asset amortization of $14.8 million, cost
of goods sold was $8.5 million. The amortization of inventory
step-up costs will continue through May 2016.
- Gross margin, calculated as product sales revenue, less cost of
goods sold, as a percentage of product sales revenue, was 12.2% for
the first quarter of 2016, compared to 45.2% for the same period in
2015, a decrease of 33%. The decrease was primarily due to
the amortization of the R-Tech Ueno inventory step-up and
acquired intangible asset amortization. Excluding the step-up of
inventory and intangible asset amortization, gross margin was 68%,
an increase of 23%.
- Research and development expenses were $14.7 million for the
first quarter of 2016 compared to $6.8 million for the same period
of 2015, an increase of $7.9 million or 116%. The increase was
primarily due to the inclusion of R-Tech Ueno, increased spending
on lubiprostone pediatric studies and the recognition of
approximately $3.0 million in R&D related expenses associated
with the purchase of the CPP option.
- General and administrative expenses were $8.9 million for the
first quarter of 2016 compared to $6.3 million for the same period
of 2015, an increase of $2.6 million or 42%. The increase was
primarily due to the inclusion of R-Tech Ueno in 2016.
- Selling and marketing expenses were $0.8 million for the first
quarter of 2016 compared to $0.7 million for the same period of
2015, an increase of $0.1 million or 21%. The increase was
primarily due the inclusion of R-Tech Ueno’s commercial team for
RESCULA.
- The effective tax rate for the first quarter of 2016 was 43%,
compared to 31% in the same period of 2015. The increase in the tax
rate is primarily due the treatment of non-U.S. income.
Certain prior year Non-GAAP amounts have
been reclassified for consistency with the current period adjusted
presentation. These reclassifications had no effect on the reported
results of operations. A
reconciliation of adjusted Net Income to GAAP Net Income and
adjusted EBITDA to income from operations, the most directly
comparable GAAP financial measure, is included in the tables
below.
Consolidated Statements of Operations and Comprehensive
Income (unaudited) |
|
(in
thousands, except per share data) |
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
|
|
2016 |
|
|
2015 |
|
Change |
Adjusted Non-GAAP Income |
|
|
|
GAAP net income |
|
(4,057 |
) |
|
6,412 |
|
|
(10,469 |
) |
Amortization Intangibles |
|
5,906 |
|
|
- |
|
|
5,906 |
|
Amortization Inventory Step Up |
|
8,932 |
|
|
- |
|
|
8,932 |
|
CPP License
Option Expense |
|
3,000 |
|
|
- |
|
|
3,000 |
|
Restructuring Costs |
|
183 |
|
|
- |
|
|
183 |
|
Acquisition
Related Expenses |
|
527 |
|
|
- |
|
|
527 |
|
Amortization of Financing Costs |
|
927 |
|
|
- |
|
|
922 |
|
Tax Effect
of Adjustments |
|
(6,455 |
) |
|
- |
|
|
(6,455 |
) |
Adjusted Net Income |
|
8,963 |
|
|
6,412 |
|
|
2,551 |
|
|
|
|
|
|
|
Adjusted
Net Income Per Share: |
|
|
|
|
Basic |
$ |
0.21 |
|
$ |
0.14 |
|
$ |
0.07 |
|
|
Diluted |
$ |
0.21 |
|
$ |
0.14 |
|
$ |
0.07 |
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
|
|
2016 |
|
|
2015 |
|
Change |
EBITDA |
|
|
|
GAAP Income
from Operations |
|
(503 |
) |
|
9,654 |
|
|
(10,157 |
) |
Depreciation |
|
264 |
|
|
83 |
|
|
181 |
|
Amortization of Acquired Intangibles |
|
5,906 |
|
|
- |
|
|
5,906 |
|
Amortization Inventory Step Up |
|
8,932 |
|
|
- |
|
|
8,932 |
|
EBITDA |
|
14,599 |
|
|
9,737 |
|
|
4,863 |
|
Non-GAAP
Adjustments |
|
|
|
CPP License
Option Expense |
|
3,000 |
|
|
- |
|
|
3,000 |
|
Share Based
Compensation Expense |
|
1,915 |
|
|
1,069 |
|
|
846 |
|
Restructuring Costs |
|
183 |
|
|
- |
|
|
183 |
|
Acquisition
Related Expenses |
|
527 |
|
|
- |
|
|
527 |
|
Adjusted
EBITDA |
|
20,225 |
|
|
10,806 |
|
|
9,419 |
|
|
|
|
|
|
|
Cash, Cash Equivalents, Restricted Cash and Marketable
Securities
At March 31, 2016, cash, cash equivalents,
restricted cash and investments were $157.0 million compared to
$163.5 million at December 31, 2015. The fluctuation period over
period is due to the investment in CPP of $5 million and the
associated option payment of $3 million made in January 2016.
At March 31, 2016 and December 31, 2015, notes payable were $235.7
million and $252.4 million, respectively, including current
portions of $27.8 million and $39.1 million, respectively. The
change in the overall note payable balance is due to the pay off of
the founders’ notes in Q1 2016. Sucampo’s net debt
position at March 31, 2016 is $78.7 million, compared to $88.9
million at December 31, 2015.
Guidance
Sucampo today reiterated its earnings guidance
for the full year ending December 31, 2016. Sucampo expects total
revenue of $195.0 million to $205.0 million, adjusted net income of
$45.0 million to $50.0 million, adjusted EPS of $0.97 to $1.07, and
adjusted EBITDA of $100.0 million to $105.0 million. Adjusted net
income guidance excludes amortization of acquired intangibles of
approximately $17.6 million and amortization of the remaining
inventory step-up costs of approximately $8.9 million.
Non-GAAP Financial Measures
This press release contains non-GAAP earnings as
listed in the first table above, which is GAAP net income before
interest, tax, depreciation, amortization, stock option expense and
intangible impairment. Sucampo believes that this non-GAAP measure
of financial results provides useful information to management and
investors relating to its results of operations. Sucampo's
management uses this non-GAAP measure to compare Sucampo's
performance to that of prior periods for trend analyses, and for
budgeting and planning purposes, as management believes this
provides a more comparable measure of our continuing business, as
it adjusts for special items that are not reflective of the normal
earnings of our business. Sucampo believes that the use of non-GAAP
financial measures provides an additional tool for investors to use
in evaluating ongoing operating results and trends and in comparing
the Sucampo's financial measures with other companies in its
industry, many of which present similar non-GAAP financial measures
to investors, and that it allows for greater transparency with
respect to key metrics used by management in its financial and
operational decision-making.
Adjusted EBITDA provides us with an
understanding of one aspect of earnings before the impact of
investing and financing charges, income taxes and special
items. Adjusted EBITDA may be useful to an investor in
evaluating our operating performance and liquidity because this
measure is widely used by investors to measure a company’s
operating performance without regard to items excluded from the
calculation of such measure, which can vary substantially from
company to company. In addition, this is a financial measure
that is used by rating agencies, lenders and other parties to
evaluate credit worthiness. Finally, this measure is used by
management for various purposes, including as a measure of
performance of our operating entities and as a basis for strategic
planning and forecasting.
Management of the company does not consider
non-GAAP measures in isolation or as an alternative to financial
measures determined in accordance with GAAP. The principal
limitation of non-GAAP financial measures is that they exclude
significant expenses that are required by GAAP to be recorded in
the Sucampo's financial statements. In order to compensate for
these limitations, management presents non-GAAP financial measures
together with GAAP results. Non-GAAP measures should be considered
in addition to results and guidance prepared in accordance with
GAAP, but should not be considered a substitute for, or superior
to, GAAP results. Reconciliation tables of the most comparable GAAP
financial measure to the non-GAAP financial measure used in this
press release are included with the financial tables at the end of
this release. Sucampo urges investors to review the reconciliation
and not to rely on any single financial measure to evaluate the
Sucampo's business. In addition, other companies, including
companies in our industry, may calculate similarly named non-GAAP
measures differently than we do, which limits their usefulness in
comparing our financial results with theirs.
Company to Host Conference Call
Today
Sucampo will host a conference call and webcast today,
Wednesday, May 4th at 8:30 am ET.Conference call and Webcast
participation details are as follows:Dial-in number: (888) 610-7449
(Domestic) or (484) 747-6634 (International)Passcode:
86905416Webcast link:
http://www.sucampo.com/investors/events-presentations/
Conference call replay:Dates: Starting at 11:30 AM ET, May 4,
2016 a replay of the teleconference and webcast will be available
Dial-in number: (855) 859-2056 (Domestic) or (404) 537-3406
(International)Passcode: 86905416Webcast link:
http://www.sucampo.com/investors/events-presentations/; then click
‘Archived Events’
About AMITIZA®
(lubiprostone)
AMITIZA (lubiprostone) is a chloride channel
activator that acts locally in the small intestine. By increasing
intestinal fluid secretion, lubiprostone increases motility in the
intestine, thereby facilitating the passage of stool and
alleviating symptoms associated with CIC. Lubiprostone, via
activation of apical CIC-2 channels in intestinal epithelial cells,
bypasses the antisecretory action of opiates that results from
suppression of secretomotor neuron excitability. Activation of
CIC-2 by lubiprostone has also been shown to stimulate recovery of
mucosal barrier function and reduce intestinal permeability via the
restoration of tight junction protein complexes in ex vivo studies
of ischemic porcine intestine.
AMITIZA (24 mcg twice daily) is indicated in the
U.S. for the treatment of adults with CIC and opioid-induced
constipation (OIC) with chronic, non-cancer pain. AMITIZA (8 mcg
twice daily) is also approved in the U.S. for irritable bowel
syndrome with constipation (IBS-C) in women 18 years of age and
older. In Japan, AMITIZA (24 mcg twice daily) is indicated for the
treatment of chronic constipation (excluding constipation caused by
organic diseases). In Canada, AMITIZA (24 mcg twice daily) is
indicated for the treatment of CIC in adults. In the U.K., AMITIZA
(24 mcg twice daily) is indicated for the treatment of CIC and
associated symptoms in adults, when response to diet and other
non-pharmacological measures (e.g. educational measures, physical
activity) are inappropriate. In Switzerland, AMITIZA (24 mcg twice
daily) is indicated for the treatment of CIC in adults and for the
treatment of OIC and associated signs and symptoms such as stool
consistency, straining, constipation severity, abdominal
discomfort, and abdominal bloating in adults with chronic,
non-cancer pain. The efficacy of AMITIZA for the treatment of OIC
in patients taking opioids of the diphenylheptane class, such as
methadone, has not been established.
About RESCULA®
Unoprostone isopropyl 0.12% (trade named
RESCULA) first received marketing authorization in 1994 in Japan
for the treatment of glaucoma and ocular hypertension.
RESCULA is marketed in Japan by Santen Pharmaceutical Co., Ltd.
(Santen). We acquired RESCULA as part of the acquisition of
R-Tech Ueno in 2015.
About Sucampo Pharmaceuticals,
Inc.
Sucampo Pharmaceuticals, Inc. is focused on the
development and commercialization of medicines that meet major
unmet medical needs of patients worldwide. Sucampo has two marketed
products – AMITIZA, its lead product, and RESCULA – and a pipeline
of product candidates in clinical development. A global company,
Sucampo is headquartered in Rockville, Maryland, and has operations
in Japan, Switzerland and the U.K. For more information, please
visit www.sucampo.com.
The Sucampo logo and the tagline, The Science of
Innovation, are registered trademarks of Sucampo AG. AMITIZA is a
registered trademark of Sucampo AG.
Follow us on Twitter (@Sucampo_Pharma). Follow
us on LinkedIn (Sucampo Pharmaceuticals).
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Sucampo Forward-Looking
Statement
This press release contains "forward-looking
statements" as that term is defined in the Private Securities
Litigation Reform Act of 1995. These statements are based on
management's current expectations and involve risks and
uncertainties, which may cause results to differ materially from
those set forth in the statements. The forward-looking statements
may include statements regarding product development, and other
statements that are not historical facts. The following factors,
among others, could cause actual results to differ from those set
forth in the forward-looking statements: the impact of
pharmaceutical industry regulation and health care legislation;
Sucampo's ability to accurately predict future market conditions;
dependence on the effectiveness of Sucampo's patents and other
protections for innovative products; the effects of competitive
products on Sucampo’s products; and the exposure to litigation
and/or regulatory actions.
No forward-looking statement can be guaranteed
and actual results may differ materially from those projected.
Sucampo undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events, or otherwise. Forward-looking statements in this
press release should be evaluated together with the many
uncertainties that affect Sucampo's business, particularly those
mentioned in the risk factors and cautionary statements in
Sucampo's most recent Form 10-K as filed with the Securities and
Exchange Commission on March 11, 2016, as amended, as well as its
filings with the Securities and Exchange Commission on Forms 8-K
and 10-Q since the filing of the Form 10-K, all of which Sucampo
incorporates by reference.
Sucampo Pharmaceuticals, Inc. |
|
|
|
|
Consolidated Statements of Operations and Comprehensive
Income (Loss) (unaudited) |
|
|
|
(in
thousands, except per share data) |
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
|
|
|
2016 |
|
|
|
2015 |
|
|
Revenues: |
|
|
|
|
|
|
Product
royalty revenue |
$ |
16,716 |
|
|
$ |
15,745 |
|
|
|
Product
sales revenue |
|
26,595 |
|
|
|
11,145 |
|
|
|
Research
and development revenue |
|
3,430 |
|
|
|
2,345 |
|
|
|
Contract
and collaboration revenue |
|
467 |
|
|
|
245 |
|
|
|
|
Total revenues |
|
47,208 |
|
|
|
29,480 |
|
|
|
|
|
|
|
|
|
Costs and
expenses: |
|
|
|
|
|
Costs of
goods sold |
|
23,338 |
|
|
|
6,110 |
|
|
|
Research
and development |
|
14,671 |
|
|
|
6,793 |
|
|
|
General and
administrative |
|
8,927 |
|
|
|
6,283 |
|
|
|
Selling and
marketing |
|
775 |
|
|
|
640 |
|
|
|
|
Total costs and
expenses |
|
47,711 |
|
|
|
19,826 |
|
|
|
|
|
|
|
|
|
Income
(loss) from operations |
|
(503 |
) |
|
|
9,654 |
|
|
Non-operating income (expense): |
|
|
|
|
|
Interest
income |
|
25 |
|
|
|
40 |
|
|
|
Interest
expense |
|
(6,270 |
) |
|
|
(276 |
) |
|
|
Other
expense, net |
|
(347 |
) |
|
|
(203 |
) |
|
|
|
Total non-operating
expense, net |
|
(6,592 |
) |
|
|
(439 |
) |
|
|
|
|
|
|
|
|
Income
(loss) before income taxes |
|
(7,095 |
) |
|
|
9,215 |
|
|
Income tax
benefit (provision) |
|
3,038 |
|
|
|
(2,807 |
) |
|
Net income
(loss) |
$ |
(4,057 |
) |
|
$ |
6,408 |
|
|
|
|
|
|
|
|
|
Net income
(loss) per share: |
|
|
|
|
|
Basic |
|
$ |
(0.10 |
) |
|
$ |
0.14 |
|
|
|
Diluted |
$ |
(0.10 |
) |
|
$ |
0.14 |
|
|
Weighted
average common shares outstanding: |
|
|
|
|
|
Basic |
|
|
42,539 |
|
|
|
44,366 |
|
|
|
Diluted |
|
42,539 |
|
|
|
45,912 |
|
|
|
|
|
|
|
|
|
Comprehensive income (loss): |
|
|
|
|
Net income
(loss) |
$ |
(4,057 |
) |
|
$ |
6,408 |
|
|
Other
comprehensive income (expense): |
|
|
|
|
|
Unrealized
loss on pension benefit obligation |
|
(8 |
) |
|
|
(7 |
) |
|
|
Unrealized
gain (loss) on investments, net of tax effect |
|
- |
|
|
|
(6 |
) |
|
|
Foreign
currency translation gain (loss) |
|
15,555 |
|
|
|
175 |
|
|
|
|
Comprehensive income
(loss) |
$ |
11,490 |
|
|
$ |
6,570 |
|
|
|
|
|
|
|
|
|
Sucampo Pharmaceuticals, Inc. |
|
|
|
Consolidated Balance Sheets |
|
|
|
(in
thousands, except share and per share data) |
|
|
|
|
|
|
March 31, |
|
December
31, |
|
|
|
|
2016 |
|
|
|
2015 |
|
|
|
|
(unaudited) |
|
|
ASSETS |
|
|
|
Current
assets: |
|
|
|
|
Cash and
cash equivalents |
$ |
130,077 |
|
|
$ |
108,284 |
|
|
Product
royalties receivable |
|
16,501 |
|
|
|
22,792 |
|
|
Accounts
receivable, net |
|
16,074 |
|
|
|
22,759 |
|
|
Restricted
cash |
|
26,944 |
|
|
|
55,218 |
|
|
Inventories |
|
24,437 |
|
|
|
33,121 |
|
|
Prepaid
expenses and other current assets |
|
14,097 |
|
|
|
9,186 |
|
|
|
Total current
assets |
|
228,130 |
|
|
|
251,360 |
|
Property
and equipment, net |
|
6,944 |
|
|
|
6,393 |
|
Intangible
assets |
|
133,599 |
|
|
|
130,315 |
|
Goodwill |
|
65,787 |
|
|
|
60,937 |
|
In-process
research and development |
|
6,614 |
|
|
|
6,171 |
|
Deferred
charge, non-current |
|
1,400 |
|
|
|
1,400 |
|
Convertible
note receivable |
|
5,000 |
|
|
|
- |
|
Other
assets |
|
736 |
|
|
|
605 |
|
|
|
Total assets |
$ |
448,210 |
|
|
$ |
457,181 |
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
Current
liabilities: |
|
|
|
|
Accounts
payable |
$ |
5,135 |
|
|
$ |
11,213 |
|
|
Accrued
expenses |
|
13,689 |
|
|
|
10,886 |
|
|
Collaboration obligation |
|
5,197 |
|
|
|
5,623 |
|
|
Income tax
payable |
|
3,468 |
|
|
|
6,507 |
|
|
Notes
payable, current |
|
27,839 |
|
|
|
39,083 |
|
|
Other
current liabilities |
|
7,097 |
|
|
|
14,815 |
|
|
|
Total current
liabilities |
|
62,425 |
|
|
|
88,127 |
|
|
|
|
|
|
|
Notes
payable, non-current |
|
207,862 |
|
|
|
213,277 |
|
Deferred
revenue, non-current |
|
941 |
|
|
|
1,088 |
|
Deferred
tax liability, net |
|
59,188 |
|
|
|
52,497 |
|
Other
liabilities |
|
16,951 |
|
|
|
15,743 |
|
|
|
Total liabilities |
|
347,367 |
|
|
|
370,732 |
|
|
|
|
|
|
|
Preferred
stock, $0.01 par value; 5,000,000 shares authorized at March 31,
2016 and December 31, |
|
|
|
|
2015; no
shares issued and outstanding at March 31, 2016 and December 31,
2015 |
|
- |
|
|
|
- |
|
Class A
common stock, $0.01 par value; 270,000,000 shares authorized at
March 31, 2016 |
|
|
|
|
and
December 31, 2015; 45,640,318 and 45,509,150 shares issued and
outstanding at March 31, 2016 and December 31, 2015,
respectively |
|
456 |
|
|
|
455 |
|
Class B common
stock, $0.01 par value; 75,000,000 shares authorized at March 31,
2016 and |
|
|
|
|
December
31, 2015; no shares issued and outstanding at March 31, 2016 and
December 31, 2015 |
|
- |
|
|
|
- |
|
Additional
paid-in capital |
|
102,115 |
|
|
|
99,212 |
|
Accumulated
other comprehensive income |
|
28,959 |
|
|
|
13,412 |
|
Treasury
stock, at cost; 3,009,942 shares at March 31, 2016 and December 31,
2015 |
|
(46,269 |
) |
|
|
(46,269 |
) |
Retained
earnings |
|
15,582 |
|
|
|
19,639 |
|
|
|
Total stockholders'
equity |
|
100,843 |
|
|
|
86,449 |
|
|
|
Total liabilities and
stockholders' equity |
$ |
448,210 |
|
|
$ |
457,181 |
|
|
|
|
|
|
|
Contact:Sucampo Pharmaceuticals, Inc.Silvia TaylorSenior Vice
President, Investor Relations and Corporate
Affairs1-240-223-3718staylor@sucampo.com
Sucampo Pharmaceuticals, Inc. (delisted) (NASDAQ:SCMP)
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