 | EXHIBIT 99.2 |
NUVELO, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
| Three months ended | ||||||||
| March 31, 2005 | March 31, 2004 | |||||||
Contract revenue: | $ | 42 | $ | 78 | ||||
Operating expenses: | ||||||||
Research and development | 11,057 | 15,373 | ||||||
General and administrative | 3,813 | 1,689 | ||||||
Loss (gain) on sale or disposal of assets | 24 | (21 | ) | |||||
Total operating expenses | 14,894 | 17,041 | ||||||
Operating loss | (14,852 | ) | (16,963 | ) | ||||
Interest income | 508 | 478 | ||||||
Interest expense - related party | (118 | ) | (126 | ) | ||||
Interest expense - other | (200 | ) | (555 | ) | ||||
Loss from continuing operations | (14,662 | ) | (17,166 | ) | ||||
Loss from discontinued operations | — | (512 | ) | |||||
Net loss | $ | (14,662 | ) | $ | (17,678 | ) | ||
Basic and diluted net loss per share: | ||||||||
Continuing operations | $ | (0.39 | ) | $ | (0.63 | ) | ||
Discontinued operations | — | (0.02 | ) | |||||
Total basic and diluted net loss per share | $ | (0.39 | ) | $ | (0.65 | ) | ||
Weighted average shares used in computing basic and diluted net loss per share | 37,960 | 27,391 | ||||||
675 Almanor Avenue, Sunnyvale, CA 94085 tel: 408/215-4000 fax: 408/215-4001 www.nuvelo.com
CONSOLIDATED BALANCE SHEET DATA
(in thousands)
(unaudited)
| March 31, 2005 | December 31, 2004 | |||||||
Cash, cash equivalents and short-term investments | $ | 106,692 | $ | 50,625 | ||||
Total assets | 134,116 | 79,264 | ||||||
Bank loans | 4,100 | 2,600 | ||||||
Notes payable | 4,000 | 4,000 | ||||||
Capital lease obligations | 127 | 1,079 | ||||||
Related party line of credit | 7,104 | 7,792 | ||||||
Accumulated deficit | (270,710 | ) | (256,048 | ) | ||||
Total stockholders’ equity | 99,857 | 45,589 | ||||||
675 Almanor Avenue, Sunnyvale, CA 94085 tel: 408/215-4000 fax: 408/215-4001 www.nuvelo.com