Sucampo Pharmaceuticals, Inc. Reports Fourth Quarter and Full Year 2013 Financial and Operating Results

Sucampo Pharmaceuticals, Inc. Reports Fourth Quarter and Full Year 2013
Financial and Operating Results

Full Year Net Income Excluding Special Items of $9.4 Million, Up 94% over 2012
                             and Exceeds Guidance

           Company to Host Conference Call Today at 5:00 pm Eastern

BETHESDA, Md., Feb. 26, 2014 (GLOBE NEWSWIRE) -- Sucampo Pharmaceuticals, Inc.
(Sucampo) (Nasdaq:SCMP), a global biopharmaceutical company, today reported
consolidated financial results for the fourth quarter and full year ending
December 31, 2013, with earnings that exceeded Sucampo's previously-issued
guidance.

Financial Highlights for the Fourth Quarter of 2013

  *Net Income excluding Special Items was $2.4 million compared to $13.5
    million in the same period in 2012. GAAP net income was $2.2 million
    compared to $13.5 million in the same period in 2012. The decrease was due
    to the receipt of a $15.0 million milestone in the fourth quarter of 2012
    that did not occur in 2013.
  *Total revenues were $24.5 million, compared to $34.9 million in the same
    period in 2012. The decrease in revenue compared to the prior year was
    driven by the receipt of a $15.0 million milestone payment in the fourth
    quarter of 2012 associated with the launch of AMITIZA^® (lubiprostone) in
    Japan. Excluding the impact of the milestone payment, revenue increased
    $4.6 million in the fourth quarter of 2013 versus the prior year.
  *United States (U.S.) net sales of AMITIZA, as reported to us by our
    partner, Takeda Pharmaceuticals U.S.A., Inc. (Takeda), for royalty
    calculation purposes, increased 4.6% to $78.0 million in the fourth
    quarter of 2013, compared to $74.6 million in the same period of 2012.
  *Diluted earnings per share excluding Special Items were $0.06 compared to
    $0.32 in the same period in 2012. GAAP diluted earnings per share (EPS)
    were $0.05 compared to $0.32 in the same period in 2012.

Financial Highlights for the Full Year of 2013

  *Net Income excluding Special Items was up 94% to $9.4 million compared to
    $4.8 million in the same period in 2012. GAAP net income was $6.4 million
    compared to $4.8 million in the same period in 2012.
  *Total revenues were $89.6 million compared to $81.5 million in the same
    period in 2012, a growth rate of 9.9%.
  *U.S. net sales of AMITIZA, as reported to us by our partner, Takeda, for
    royalty calculation purposes, increased 3.8% to $282.1 million for 2013,
    compared to $271.9 million for 2012.
  *Diluted earnings per share excluding Special Items were $0.22 compared to
    $0.12 in the same period in 2012. GAAP diluted EPS were $0.15 compared to
    $0.12 in the same period in 2012.

                                                     Three Months Year Ended
                                                    Ended        December 31,
                                                     December 31,
(In thousands, except per share data)                2013         2013
Total revenues                                       $24,490    $89,594
GAAP Diluted EPS                                     0.05        0.15
Non-GAAP Diluted EPS that exclude RESCULA
inventory/samples non-cash write-off and             0.06        0.22
restructuring costs^1
GAAP net income^2                                    2,153       6,419
Non-GAAP net income that excludes RESCULA
inventory/samples non-cash write-off and             2,420       9,402
restructuring costs^1, 2

^1. Sucampo is providing certain 2013 non-GAAP information that excludes
certain items because of the nature of these items and the impact they have on
the analysis of underlying business performance and trends. Management
believes that providing this information enhances investors' understanding of
Sucampo's performance. This information should be considered in addition to,
but not in lieu of, information prepared in accordance with GAAP.

^2. Net income is attributable to Sucampo Pharmaceuticals, Inc. on a
consolidated basis.

"2013 was a year of significant growth for Sucampo," said Ryuji Ueno, M.D.,
Ph.D., Ph.D., the company's co-founder, who as previously reported is stepping
down as Chairman and member of the Board of Directors (Board) and Chief
Executive Officer (CEO) on March 3, 2014 and as Chief Scientific Officer (CSO)
on March 31, 2014."AMITIZA received approval as the first and only oral
prescription treatment option for opioid induced constipation (OIC) in adult
patients with chronic, non-cancer pain, bringing an important new treatment to
patients who suffer from this debilitating side effect of chronic opioid
use.Sales for AMITIZA continued to increase in Japan, and with the launch of
AMITIZA for chronic idiopathic constipation (CIC) in Switzerland, Sucampo is
now recognizing revenue on three continents.We also made important progress
in making RESCULA^® (unoprostone isopropyl) commercially available in the
U.S., and we made important advances in our clinical development programs.As
I prepare to transition out of my roles as CEO, member and Chairman of the
Board and CSO with Sucampo, I am confident that under the leadership of the
new CEO, we are well-positioned to accelerate our legacy of growth."

Fourth Quarter 2013 and Recent Highlights

AMITIZA in the U.S.

  *AMITIZA total prescriptions increased 5% in 2013 and 6% in the fourth
    quarter.Total prescriptions of AMITIZA in 2013 were 1.3 million, the
    highest total in one year ever recorded for AMITIZA.Fourth quarter total
    prescriptions of AMITIZA were 341,000, making the fourth quarter in 2013
    the highest ever.
    
  *Among pain specialists, the monthly average total prescriptions for
    AMITIZA increased 31% since OIC approval in April and through the month of
    December, as compared to the eight months prior to approval.
    
  *AMITIZA maintained a preferred managed care position, with 90% of insured
    lives covered nationally.

AMITIZA in Global Markets

  *Sucampo revenue from sales of AMITIZA in Japan was $5.1 million in the
    fourth quarter of 2013, an increase of $0.1 million versus Q4 2012 which
    was the initial inventory stocking quarter for the product launch.For
    2013, Sucampo revenue from sales of AMITIZA in Japan was $15.8 million, an
    increase of 215% versus 2012, in which AMITIZA was launched in late
    November.
    
  *Sucampo made AMITIZA available in the United Kingdom (U.K.) in the latter
    half of the fourth quarter of 2013.
    
  *In Switzerland, Sucampo showed sequential quarterly sales growth for
    AMITIZA for CIC. Additionally, in February, Sucampo announced that the
    Bundesamt für Gesundheit (BAG) in Switzerland revised several limitations
    with which AMITIZA was first approved for reimbursement and inclusion in
    its specialty list, allowing all Swiss physicians to prescribe AMITIZA,
    not just Swiss gastroenterologists, and increasing the maximum treatment
    duration of AMITIZA from 12 to 52 weeks before a review is needed by a
    health insurance health care practitioner.
    
  *Sucampo continued partnership discussions for strategic alliances for
    AMITIZA for global markets outside of the U.S. and Japan, including China,
    Russia, Europe, Latin America and emerging markets.

Research & Development

  *In December, Sucampo announced the initiation of a global pivotal phase 3
    clinical program of lubiprostone in pediatric functional constipation,
    with the anticipation of the first patient to roll over into a long-term
    safety extension study within the first half of 2014.Sucampo plans to
    initiate another well-controlled study in younger children with pediatric
    functional constipation following successful completion of the adult study
    of the liquid formulation, which is expected within the first half of
    2014.
    
  *Also in December, Sucampo announced the results of its double-blind,
    placebo-controlled phase 2a proof of concept study evaluating an
    intravenous (IV) formulation of our proprietary ion channel activator in
    patients with lumbar spinal stenosis (LSS), a degenerative disease of the
    lumbar spine. A responder analysis of data from the trial revealed that
    patients receiving the ion channel activator experienced a statistically
    significant improvement in pain, as determined by improvements in the
    Visual Analog Scale (VAS) pain score, versus placebo (94.4% versus 62.5%;
    p=0.035).Sucampo plans to conduct an additional phase 2a study in the
    second half of 2014 to evaluate the clinical effectiveness of the IV ion
    channel activator.Sucampo also plans to initiate a phase 1b study in the
    first quarter of 2014 for its oral ion channel activator for LSS.
    
  *In October, Sucampo announced that its development partner, R-Tech Ueno
    Ltd., completed patient enrollment of a phase 3 clinical trial for
    unoprostone isopropyl for retinitis pigmentosa in Japan. A substantial
    portion of the development costs for the program are being funded by the
    Japan Science and Technology Agency. Sucampo has rights to the clinical
    data for potential filing in Europe and the U.S., where unoprostone
    isopropyl has orphan drug designation, and Sucampo will decide on future
    development assuming the Japanese trial is successful.
    
  *Sucampo initiated a phase 1b trial for cobiprostone for the treatment of
    oral mucositis, a debilitating side effect of chemotherapy and radiation
    therapy in cancer patients, in the fourth quarter of 2013.

Corporate

  *Sucampo recently announced that Peter Greenleaf will join Sucampo as CEO
    and a member of the Board on March 3.Dr. Ueno will step down as CEO and
    member and Chairman of the Board on March 3, and as CSO on March 31.Dan
    Getman, Ph.D., will become Chairman of the Board on March 3.
    
  *Dr. Ueno, as the Co-founder, Chairman Emeritus and Scientific Advisor,
    will provide consulting services to Sucampo on the development of its
    pipeline and other strategic activities.

2013 Value Drivers:                                                 
                                                                   
Sucampo achieved eleven (denoted with a +) of its thirteen value drivers for
2013; unchecked items are still in progress:
                                                                   
AMITIZA                                                             
                                                                   
U.S.                                                                
+ Achieved approval of the OIC indication for AMITIZA in the U.S.   
+ Received a $10.0 million milestone payment from Takeda upon the approval and
first commercial sale of AMITIZA for OIC in the U.S.
                                                                   
Global                                                              
• Engaging in discussions for strategic alliances for AMITIZA for new
indications and new territories outside of the U.S., including Latin America,
China, Russia, Europe and emerging markets
                                                                   
Japan                                                               
+ Strong sales growth of AMITIZA                                    
                                                                   
Europe                                                              
+ Began active marketing of AMITIZA for CIC in Switzerland          
+ Completed in the first half of 2013 the submission for regulatory approval
of AMITIZA in the U.K. and Switzerland for the treatment of OIC. Sucampo
anticipates approval from each respective regulatory authority in the first
half of 2014
• Submission of filings via the mutual recognition procedure (MRP) for AMITIZA
in other European markets following the U.K. OIC approval
+ Filed for National Institute for Health and Care Excellence       
endorsement for CIC and OIC and launched AMITIZA in the U.K.
                                                                   
RESCULA                                                             
+ Launched RESCULA in February in the U.S.                         
                                                                   
Pipeline                                                            
                                                                   
Lubiprostone                                                        
+ Achieved First Patient First Visit in our AMITIZA phase 3 trial   
for pediatric functional constipation in the second half of 2013
                                                                   
Oral Mucositis                                                      
+ Completed our oral mucositis phase 1a trial for cobiprostone in   
the second quarter of 2013
+ Initiated a phase 1b trial for cobiprostone on October 31         
                                                                   
Spinal Stenosis                                                     
+ Completed our spinal stenosis phase 2a, double-blind,             
placebo-controlled trial for our IV ion channel activator for LSS

Financial Results for the Quarter

For the fourth quarter of 2013, Sucampo reported total revenue of $24.5
million compared to $34.9 million for the same period in 2012, a decrease of
approximately 29.8% or $10.4 million. The decrease in revenue compared to the
prior year was primarily driven by the receipt of a $15.0 million milestone
payment in the fourth quarter of 2012 associated with the launch of AMITIZA in
Japan. Excluding the impact of the milestone payment, revenue increased $4.6
million in the fourth quarter of 2013 versus the prior year. The key
components of revenue for the fourth quarter included R&D revenue of $4.1
million, product royalty revenue of $14.8 million, product sales revenue of
$5.4 million and co-promotion revenue of nil which compare to $15.1 million,
$14.2 million and $5.0 million and $0.3 million, respectively, in the same
period of 2012.

For the full year 2013, Sucampo reported total revenue of $89.6 million,
compared to $81.5 million for the full year 2012, a growth of approximately
9.9%. The key components of total revenue for the full year 2013 were product
royalty revenue of $52.1 million, R&D revenue of $20.4 million, product sales
revenue of $16.4 million and co-promotion revenue of $0.1 million which
compare to $50.7 million, $21.5 million, $5.0 million and $3.6 million,
respectively, for the full year 2012.

U.S. net sales of AMITIZA, as reported to us by our partner, Takeda, for
royalty calculation purposes, increased 4.6% to $78.0 million for the fourth
quarter of 2013 and 3.8% to $282.1 million for the full year 2013, compared to
$74.6 million and $271.9 million respectively in the same periods of 2012.

Cost of Goods Sold

Cost of goods sold relates to purchase and distribution costs of Sucampo's
products sold by Sucampo, including changes in inventory provisions for excess
and obsolete inventory. Cost of goods sold were $2.9 million for the fourth
quarter of 2013, compared to $3.0 million for the fourth quarter of 2012, a
decrease of $0.1 million. Cost of goods sold were $12.4 million for the full
year 2013, compared to $3.0 million for the prior year period, an increase of
$9.4 million. The increase in cost of goods sold relates to drug product sales
of AMITIZA in Japan and Europe and RESCULA in the U.S. During the full year of
2013, Sucampo recorded a non-cash write-off of its RESCULA inventory of $3.0
million to reflect excess quantities of dated product. The excess inventory
was largely a result of the necessity to pre-order product in advance of FDA
approval due to a planned change in manufacturing facility and lower than
anticipated sales within the useful life of the dated product.

Operating Expenses

R&D expenses, comprised of expenses for clinical development of the
lubiprostone pediatric indication and liquid formulation, phase 1 trial
expenses for oral mucositis, and clinical development expenses for Sucampo's
lumbar spinal stenosis program, were $7.0 million for the fourth quarter of
2013, compared to $7.1 million for the same period of 2012. For the full year
2013, R&D expenses were $21.5 million, compared to $21.3 million for the prior
year period. The increase in expenses was primarily due to the higher costs
associated with clinical development of Sucampo's phase 2a trial for lumbar
spinal stenosis and of the lubiprostone pediatric indication and liquid
formulation, partially offset by lower costs associated with Sucampo's
terminated collaboration with Numab AG.

G&A expenses were $6.8 million for the fourth quarter of 2013, compared to
$7.6 million for the same period of 2012, a decrease of $0.8 million or 10.3%.
G&A expenses were $25.4 million for the full year 2013, compared to $30.2
million for the prior year period, a decrease of $4.7 million or 15.7%. For
the full year period, the decrease in G&A expense was primarily due to lower
legal, consulting and other professional expenses as a result of the
conclusion of certain legal matters in 2012, as well as expense reductions
from 2013 productivity initiatives.

S&M expenses were $5.1 million for the fourth quarter of 2013, compared to
$4.2 million for the fourth quarter of 2012.Selling and marketing expenses
were $21.1 million for the full year 2013 compared to $18.7 million for the
prior year period. For the full year period, the increase in selling and
marketing expenses relates primarily to launch and restructuring costs for
RESCULA and a $1.5 million non-cash write-off recorded for excess RESCULA
samples, partially offset by non-recurring pre-commercialization planning
activities for AMITIZA and RESCULA that occurred in 2012 that did not occur in
2013.

Net Income

Net income for the fourth quarter was $2.2 million, compared to net income of
$13.5 million for 2012. For the quarter, the decrease was due to the receipt
of a $15 million milestone in the fourth quarter of 2012 that did not occur in
2013. For the full year 2013, net income was $6.4 million, compared to net
income of $4.8 million for 2012.

Earnings Excluding Special Items

Net income excluding special items for the fourth quarter of 2013 was $2.4
million, or $0.06 per diluted share, compared to net income of $13.5 million,
or $0.32 per diluted share, in the fourth quarter of 2012. Net income
excluding special items for the full year 2013 was $9.4 million, or $0.22 per
diluted share, compared to net income of $4.8 million, or $0.12 per diluted
share, for 2012.

Non-GAAP (generally accepted accounting principles) EPS for the fourth quarter
and full year 2013 of $0.06 and $0.22, respectively, exclude RESCULA
inventory, sample non-cash write-off costs, and restructuring costs.

A reconciliation of GAAP to non-GAAP net income and EPS is provided in the
tables that follow.

                                                     Three Months Year Ended
                                                    Ended        December 31,
                                                     December 31,
(In thousands, except per share data)                2013         2013
EPS                                                              
GAAP Diluted EPS                                     $0.05      $0.15
Difference^3                                         0.01        0.07
Non-GAAP Diluted EPS that exclude RESCULA
inventory/samples non-cash write-off and             0.06        0.22
restructuring costs^1
                                                                
Net income                                                      
GAAP net income^2                                    $2,153     $6,419
Difference                                           267         2,983
Non-GAAP net income that excludes RESCULA
inventory/samples non-cash write-off and             2,420       9,402
restructuring cost^1, 2
                                                                
Decrease in net income due to excluded items:                    
Net decrease in income before income taxes           $445       $4,972
Estimated income tax benefit                         (178)       (1,989)
Decrease in net income                              267         2,983

^3.Represents the difference between calculated GAAP EPS and calculated
non-GAAP EPS, which may be different than the amount calculated by dividing
the impact of the excluded items by the weighted-average shares for the
period.

Cash, Cash Equivalents, Restricted Cash and Marketable Securities

At December 31, 2013, cash, cash equivalents, restricted cash and investments
were $95.9 million, compared to $91.4 million at December 31, 2012. At
December 31, 2013, notes payable were $52.7 million, compared to $52.9 million
at December 31, 2012, including current notes payable of $26.9 million at
December 31, 2013, and $19.1 million at December 31, 2012.

Stock Repurchase Plan

During the full year 2013, Sucampo repurchased 67,762 shares at a cost of $0.3
million. During the fourth quarter, Sucampo made no share repurchases under
this program. Since inception, Sucampo has repurchased approximately $2.3
million of its common stock.

Cantor Sales Agreement

As previously disclosed, on January 11, 2013, Sucampo entered into a sales
agreement with Cantor Fitzgerald & Co. (Cantor Sales Agreement), which enables
Sucampo to offer and sell shares of the Sucampo's class A common stock with
aggregate class A common stock sales of up to $20.0 million, from time to time
through Cantor Fitzgerald & Co. as our sales agent. Sales of class A common
stock under the Cantor Sales Agreement are made in sales deemed to be
"at-the-market" equity offerings as defined in Rule 415 promulgated under the
Securities Act of 1933, as amended. Cantor Fitzgerald & Co. is entitled to
receive a commission rate of 3.0% of gross sales in connection with the sale
of Sucampo's class A common stock sold on Sucampo's behalf. From November 22,
2013 through December 31, 2013, Sucampo had sold through the Cantor Sales
Agreement an aggregate of 749,383 shares of Sucampo's class A common stock,
and received gross proceeds of approximately $5.3 million, before deducting
issuance expenses.

Future Guidance

Sucampo today affirmed its earnings guidance for 2014. Sucampo expects to be
profitable in 2014 and expects to issue more specific guidance soon.

Company to Host Conference Call Today

In conjunction with this fourth quarter financial and operating results press
release, Sucampo will host a conference call today at 5:00 pm Eastern. To
participate on the live call, please dial 877-280-4955 (domestic) or
857-244-7312 (international), and provide the participant passcode 98843095,
five to ten minutes ahead of the start of the call. A replay of the call will
be available within a few hours after the call ends. Investors may listen to
the replay by dialing 888-286-8010 (domestic) or 617-801-6888 (international),
with the passcode 42236766.

Investors interested in accessing the live audio webcast of the teleconference
may do so at http://investor.sucampo.com and should log on before the
teleconference begins in order to download any software required. The archive
of the teleconference will remain available for 30 days.

About lubiprostone (AMITIZA^®)

AMITIZA (lubiprostone) is a prostone, a locally acting chloride channel
activator, indicated for the treatment of CIC in adults and OIC in adults with
chronic, non-cancer pain (24 mcg twice daily) and for IBS-C (8 mcg twice
daily) in women 18 years of age and older in the U.S. In Japan, lubiprostone
(24 mcg twice daily) is indicated for the treatment of chronic constipation
(excluding constipation caused by organic diseases). In Switzerland,
lubiprostone (24 mcg twice daily) is indicated for the treatment of CIC. In
the U.K., lubiprostone (24 mcg twice daily) is indicated for the treatment of
CIC and associated symptoms in adults.

About unoprostone isopropyl (RESCULA^®)

In 2009 and 2011, Sucampo acquired development and commercialization rights to
unoprostone isopropyl throughout the world except in Japan, Korea, Taiwan and
the People's Republic of China. Unoprostone isopropyl 0.12% (trade named
RESCULA) first received marketing authorization in 1994 in Japan and was
subsequently approved in over 40 countries, including approval in 2000 by the
FDA. RESCULA (unoprostone isopropyl ophthalmic solution) 0.15% is indicated
for the lowering of intraocular pressure (IOP) in patients with open-angle
glaucoma or ocular hypertension in the U.S.

About Sucampo Pharmaceuticals, Inc.

Sucampo Pharmaceuticals, Inc. is focused on the discovery, development and
commercialization of drugs based on ion channel activators knows as prostones.
Discovered by the company's scientific founder, prostones are naturally
occurring fatty acid metabolites with unique physiological activities. Sucampo
has two marketed products – AMITIZA and RESCULA – and a pipeline of
prostone-based product candidates in clinical development. A global company,
Sucampo is headquartered in Bethesda, Maryland, and has operations in the
U.K., Switzerland and Japan. 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. RESCULA is a registered
trademark of R-Tech Ueno, Ltd, and has been licensed to 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, product potential, future financial and
operating results, 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 risk of new and changing regulation and health policies in the
U.S. and internationally 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 presentation
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 well as its fillings on Form
10-Q and 8-K, which Sucampo incorporates by reference.


Sucampo Pharmaceuticals, Inc.
Consolidated Statements of Operations and Comprehensive Income(unaudited)
(in thousands, except per share data)
                                                               
                          Three Months Ended December Year Ended December 31,
                           31,
                          2013          2012          2013        2012
                                                               
Revenues:                                                       
Research and development   $4,066      $15,127     $20,354   $21,545
revenue
Product royalty revenue    14,829       14,175       52,100     50,696
Product sales revenue      5,431        5,037        16,425     5,037
Co-promotion revenue       --          323          61         3,576
Contract and collaboration 164          200          654        633
revenue
Total revenues             24,490       34,862       89,594     81,487
                                                               
Cost and expenses:                                              
Cost of goods sold         2,945        3,030        12,402     3,030
Research and development   6,996        7,090        21,524     21,292
General and administrative 6,778        7,559        25,413     30,157
Selling and marketing      5,092        4,217        21,059     18,691
Total costs and expenses   21,811       21,896       80,398     73,170
                                                               
Income from operations     2,679        12,966       9,196      8,317
Non-operating income                                            
(expense):
Interest income            61           61           124        179
Interest expense           (445)        (566)        (1,894)    (2,346)
Other income (expense),    1,145        875          2,921      1,602
net
Total non-operating income 761          370          1,151      (565)
(expense), net
                                                               
Income before income taxes 3,440        13,336       10,347     7,752
Income tax benefit         (1,287)      196          (3,928)    (2,916)
(provision)
Net income                $2,153      $13,532     $6,419    $4,836
                                                               
Net income per share:                                           
Basic net income per share $0.05       $0.33       $0.15     $0.12
Diluted net income per     $0.05       $0.32       $0.15     $0.12
share
Weighted average common    41,929       41,553       41,716     41,660
shares outstanding - basic
Weighted average common
shares outstanding -       42,986       41,991       42,544     41,785
diluted
                                                               
Comprehensive income                                            
(loss):
Net income                $2,153      $13,532     $6,419    $4,836
Other comprehensive income                                      
gain (loss):
Unrealized loss on
investments, net of tax    18           13           2          36
effect
Foreign currency           (180)        43           (567)      (1,724)
translation
Comprehensive income      $1,991      $13,588     $5,854    $3,148



Sucampo Pharmaceuticals, Inc.
Consolidated Balance Sheets (unaudited)
(in thousands, except share data)
                                                                  
                                                        December 31,
                                                        2013       2012
ASSETS:                                                            
                                                                  
Current assets:                                                    
Cash and cash equivalents                                $44,102  $52,022
Investments, current                                     16,003    6,035
Product royalties receivable                             14,829    14,175
Unbilled accounts receivable                             1         732
Accounts receivable, net                                 5,407     1,360
Prepaid and income taxes receivable                      9         --
Deferred tax assets, current                             2,028     874
Deferred charge, current                                 673       673
Restricted cash, current                                 26,115    15,113
Inventory                                                209       --
Prepaid expenses and other current assets                3,977     1,930
Total current assets                                     113,353   92,914
                                                                  
Investments, non-current                                 7,219     14,408
Property and equipment, net                              1,156     1,540
Intangible assets, net                                   6,438     7,415
Deferred tax assets, non-current                         1,212     1,654
Deferred charge, non-current                             4,540     5,213
Restricted cash, non-current                             2,471     3,832
Other assets                                             584       820
Total assets                                             $136,973 $127,796
                                                                  
LIABILITIES AND STOCKHOLDERS' EQUITY:                              
                                                                  
Current liabilities:                                               
Accounts payable                                         $7,614   $5,496
Accrued expenses                                         5,682     10,595
Deferred revenue, current                                1,365     3,700
Income tax payable                                       701       148
Notes payable, current                                   26,892    19,129
Other current liabilities                                358       1,003
Total current liabilities                                42,612    40,071
                                                                  
Notes payable, non-current                               25,828    33,722
Deferred revenue, non-current                            6,169     7,093
Deferred tax liability, non-current                      2,066     2,627
Other liabilities                                        2,150     1,253
Total liabilities                                        78,825    84,766
                                                                  
                                                                  
Stockholders' equity:                                              
Preferred stock, $0.01 par value; 5,000,000 shares
authorized at December 31, 2013 and 2012; no shares      --       --
issued and outstanding at December 31, 2013 and 2012
Class A common stock, $0.01 par value; 270,000,000
shares authorized at December 31, 2013 and               432       420
2012;43,315,749 and 41,964,905 shares issued and
outstanding at December 31, 2013 and 2012, respectively
Additional paid-in capital                               72,109    62,521
Accumulated other comprehensive income                   15,601    16,166
Treasury stock, at cost; 524,792 and 457,030 shares      (2,313)   (1,977)
Accumulated deficit                                      (27,681)  (34,100)
Total stockholders' equity                               58,148    43,030
Total liabilities and stockholders' equity               $136,973 $127,796



Sucampo Pharmaceuticals, Inc.
Key Segment Information (unaudited)
                                                              
                                                              
(In thousands)                    Americas  Europe      Asia      Consolidated
Three Months Ended December 31,                                
2013
Research and development revenue  $4,066  $--      $--    $4,066
Product royalty revenue           14,829   --        --      14,829
Product sales revenue             279      25         5,127    5,431
Co-promotion revenue              --      --        --      --
Contract and collaboration        142      12         10       164
revenue
Total revenues                    19,316   37         5,137    24,490
Cost of goods sold                123      3          2,819    2,945
Research and development expenses 4,644    1,138      1,214    6,996
Depreciation and amortization     193      168        10       371
Other operating expenses          8,543    2,526      430      11,499
Income (loss) from operations     5,813    (3,798)    664      2,679
Interest income                   58       3          --      61
Interest expense                  (1,427)  1,024      (42)     (445)
Other non-operating expense, net  (5)      3          1,147    1,145
Income (loss) before income taxes $4,439  $(2,768)  $1,769  $3,440
Capital expenditures              $--    $(5)      $20     $15
                                                              
(In thousands)                    Americas  Europe      Asia      Consolidated
Three Months Ended December 31,                                
2012
Research and development revenue  $311    $(74)     $14,890 $15,127
Product royalty revenue           14,175   --        --      14,175
Product sales revenue             --      14         5,023    5,037
Co-promotion revenue              323      --        --      323
Contract and collaboration        141      46         13       200
revenue
Total revenues                    14,950   (14)       19,926   34,862
Cost of goods sold                98       9          2,923    3,030
Research and development expenses 1,559    4,166      1,365    7,090
Depreciation and amortization     118      255        10       383
Other operating expenses          8,935    417        2,041    11,393
Income (loss) from operations     4,240    (4,861)    13,587   12,966
Interest income                   56       4          1        61
Interest expense                  --      (527)      (39)     (566)
Other non-operating income        10       (269)      1,134    875
(expense), net
Income (loss) before income taxes $4,306  $(5,653)  $14,683 $13,336
Capital expenditures              $108    $25       $--    $133
                                                              
                                                              
Year Ended December 31, 2013                                   
Research and development revenue  $20,354 $--      $--    $20,354
Product royalty revenue           52,100   --        --      52,100
Product sales revenue             556      62         15,807   16,425
Co-promotion revenue              61       --        --      61
Contract and collaboration        566      46         42       654
revenue
Total revenues                    73,637   108        15,849   89,594
Cost of goods sold                3,588    15         8,799    12,402
Research and development expenses 11,090   5,445      4,989    21,524
Depreciation and amortization     736      716        36       1,488
Other operating expenses          35,911   5,900      3,173    44,984
Income (loss) from operations     22,312   (11,968)   (1,148)  9,196
Interest income                   112      11         1        124
Interest expense                  (1,427)  (302)      (165)    (1,894)
Other non-operating expense, net  (14)     (166)      3,101    2,921
Income (loss) before income taxes $20,983 $ (12,425) $1,789  $10,347
Capital expenditures              $40     $105      $23     $168
                                                              
Year Ended December 31, 2012                                   
Research and development revenue  $6,189  $--      $15,356 $21,545
Product royalty revenue           50,696   --        --      50,696
Product sales revenue             --      14         5,023    5,037
Co-promotion revenue              3,576    --        --      3,576
Contract and collaboration        565      16         52       633
revenue
Total revenues                    61,026   30         20,431   81,487
Cost of goods sold                98       9          2,923    3,030
Research and development expenses 7,809    9,571      3,912    21,292
Depreciation and amortization     484      964        40       1,488
Other operating expenses          41,410   2,993      2,957    47,360
Income (loss) from operations     11,225   (13,507)   10,599   8,317
Interest income                   161      16         2        179
Interest expense                  --      (2,183)    (163)    (2,346)
Other non-operating expense, net  77       (187)      1,712    1,602
Income (loss) before income taxes $11,463 $ (15,861) $12,150 $7,752
Capital expenditures              $401    $3,470    $--    $3,871

CONTACT: Sucampo Pharmaceuticals, Inc.
         Silvia Taylor
         Senior Vice President, Investor Relations and
         Corporate Communications
         1-240-223-3718
         staylor@sucampo.com

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