Repros Therapeutics Inc.(R) Reports Fourth Quarter and Year End 2012 Financial Results

Repros Therapeutics Inc.(R) Reports Fourth Quarter and Year End 2012 Financial
Results

THE WOODLANDS, Texas, March 18, 2013 (GLOBE NEWSWIRE) -- Repros Therapeutics
Inc.^® (Nasdaq:RPRX) today announced financial results for the quarter and
year ended December 31, 2012.

Liquidity and Capital Resources

The Company had cash and cash equivalents of approximately $24.2 million as of
December 31, 2012 as compared to $4.6 million as of December 31, 2011. Net
cash of approximately $13.5 million was used in operating activities during
the year ended December 31, 2012 as compared to $9.8 million for the year
ended December 31, 2011. The major use of cash during 2012 was to fund the
Company's clinical development programs and associated administrative costs.
Cash used in investing activities during 2012 was approximately $608,000
primarily for capitalized patent and patent application costs for Androxal^®
and Proellex^®. Cash provided by financing activities during 2012 was
approximately $33.8 million primarily due to the registered direct offering of
2,463,537 shares of our common stock at a price per share of $4.50 completed
on February 1, 2012 and the private placement of 2,145,636 shares of our
common stock at a price per share of $11.00 completed on September 7, 2012.

Financial Results

Net loss for the three month period ended December 31, 2012, was ($8.0)
million or ($0.47) per share as compared to a net loss of ($2.7) million or
($0.22) per share for the same period in 2011.The net loss for the twelve
month period ended December 31, 2012, was ($18.2) million or ($1.18) per share
as compared to a net loss of ($12.5) million or ($1.04) per share for the same
period in 2011.The increase in loss for both the three and twelve month
periods ended December 31, 2012 as compared to the same periods in 2011 was
primarily due to increased expenses in clinical development related to
Androxal^® and Proellex^® and payroll and benefits. 

Research and development ("R&D") expenses increased 54% or approximately $4.7
million to $13.3 million for the year ended December 31, 2012 as compared to
$8.7 million for the same period in the prior year.The increase in R&D
expenses for the year ended 2012 as compared to 2011 is primarily due to an
increase of $3.4 million in clinical development expenses related to the Phase
3 studies for Androxal^®.Clinical development expenses for Proellex^®
increased approximately $768,000 for the year ended 2012 as compared to 2011
due to the Phase 2 vaginal administration study for uterine fibroids conducted
in 2012.Payroll and benefits expenses increased for the year ended 2012 as
compared to 2011 by $830,000 due to increased headcount.Included in payroll
and benefits expenses is a charge for non-cash stock based compensation of
$880,000 for the year ended 2012 as compared to $540,000 in
2011.Additionally, operating and occupancy expenses decreased $335,000 for
the year ended 2012 as compared to 2011 due to decreased costs related to the
Company's patent portfolio and a reduction in our product liability insurance
premium.

General and administrative ("G&A") expenses increased 27% or approximately
$1.0 million to $4.8 million for the year ended December 31, 2012 as compared
to $3.8 million for the same period in the prior year.The increase in G&A
expenses for 2012 as compared to 2011 is primarily due to an increase in
payroll and benefits in the amount of $717,000.Included in payroll and
benefit expense is a charge for non-cash stock based compensation expense of
$1.9 million for 2012 as compared to $1.7 million in 2011.Additionally,
salaries increased for the year ended 2012 by $526,000 as compared to 2011 due
to an increase in headcount and the discontinuation of the salary reduction
program put in place in August 2009.G&A operating and occupancy expenses,
which include expenses to operate as a public company, increased for the year
ended 2012 by approximately $299,000 as compared to 2011 due to an increase in
professional services.

Total revenues and other income increased to $3,000 for the year ended
December 31, 2012 as compared to $2,000 for the same period in the prior
year.This increase is primarily due to an increase in interest income due to
higher cash balances.

As of December 31, 2012, the Company had 17,160,155 shares of common stock
outstanding. On January 29, 2013, 872,133 Series A Warrants and 713,741 Series
B Warrants were exercised using the cashless exercise provision of the Warrant
Agreements, resulting in the issuance of 1,483,831 shares of our common
stock.As a result of this exercise, we currently have 18,643,986 shares of
common stock outstanding.

About Repros Therapeutics Inc. ^ ®

Repros Therapeutics focuses on the development of small molecule drugs for
major unmet medical needs that treat male and female reproductive disorders.

Any statements made by the Company that are not historical facts contained in
this release are forward-looking statements that involve risks and
uncertainties, including the ability to raise additional needed capital on a
timely basis in order for it to continue to fund development of its Androxal®
and Proellex® programs and have success in the clinical development of its
technologies, the reliability of interim results to predict final study
outcomes, and such other risks which are identified in the Company's most
recent Annual Report on Form 10-K and in any subsequent quarterly reports on
Form 10-Q. These documents are available on request from Repros Therapeutics
or at www.sec.gov. Repros disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise.

For more information, please visit the Company's website at
http://www.reprosrx.com.

The Repros Therapeutics Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7738


REPROS THERAPEUTICS INC. AND SUBSIDIARY
(A DEVELOPMENT STAGE COMPANY)
                                                               
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands except per share amounts)
                                                               
                             Three Months Ended      Twelve Months Ended
                             December 31,            December 31,
                             2012       2011         2012         2011
                                                               
Revenues                                                        
Interest income               $2       $1         $3         $2
Total revenues                2         1           3           2
                                                               
Expenses                                                        
Research and development      6,568     1,701       13,343      8,682
General and administrative    1,479     1,032       4,827       3,811
Total expenses                8,047     2,733       18,170      12,493
                                                               
Net loss                      $(8,045) $(2,732)   $(18,167)  $(12,491)
                                                               
Net loss per share - basic    $(0.47)  $(0.22)    $(1.18)    $(1.04)
and diluted
                                                               
Weighted average shares used
in loss per share                                               
calculation:
Basic                         17,134    12,320      15,346      11,961
Diluted                       17,134    12,320      15,346      11,961
                                                               
                                                               
CONSOLIDATED BALANCE SHEETS
(in thousands)
                                                               
                                       December 31, December 31, 
                                       2012         2011         
                                                               
                                                               
Cash and cash equivalents               $24,212    $4,565     
Other currents assets                   406         99          
Fixed assets (net)                      53          15          
Other assets (net)                      2,161       1,385       
Total assets                            $26,832    $6,064     
                                                               
Accounts payable and accrued            $3,798     $1,398     
expenses
Stockholders' equity                    23,034      4,666       
Total liabilities                       $26,832    $6,064     
andstockholders' equity

CONTACT: Joseph S. Podolski
         Chief Executive Officer
         (281) 719-3447
        
         Investor Relations:
         Thomas Hoffmann
         The Trout Group
         (646) 378-2931

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