1
EXHIBIT 99.1
CELL GENESYS, INC.
CONDENSED CONSOLIDATING BALANCE SHEET
DECEMBER 31, 1997
(IN THOUSANDS)
(UNAUDITED)
Cell
Genesys, Abgenix, Elimination
Inc. Inc. Entries Consolidated
ASSETS
Current assets:
Cash and cash equivalents $ 6,014 $ 4,617 $ 10,631
Short-term investments 67,481 10,704 78,185
Prepaid expenses and other current
assets 2,605 550 $ (212) 2,943
--------- --------- ---------
Total current assets 76,100 15,871 91,759
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Property and equipment, net 8,039 5,776 13,815
Deposits and other assets 30,026 437 (29,150) 1,313
========= ========= =========
$ 114,165 $ 22,084 $ 106,887
========= ========= =========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 1,642 $ 448 $ 2,090
Accrued compensation and benefits 662 230 892
Deferred revenue from related
parties 5,993 -- 5,993
Accrued construction costs 22 -- 22
Accrued legal expenses 179 958 1,137
Accrued acquisition and related
costs 1,648 -- 1,648
Other accrued liabilities 2,273 2,203 (212) 4,264
Current portion of property and
equipment financing 3,513 1,646 5,159
Contribution payable to related
party -- 3,750 3,750
Convertible note payable 15,000 -- 15,000
--------- --------- ---------
Total current liabilities 30,932 9,235 39,955
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Noncurrent portion of property and
equipment financing 7,103 3,979 11,082
Commitments and contingencies
Redeemable convertible preferred stock 19,817 31,191 (31,191) 19,817
Minority interest in the equity of
subsidiary -- -- 17,392 17,392
Stockholders' equity:
Common stock 28 351 (351) 28
Contributions from parent -- 15,000 (15,000) --
Additional paid-in capital 197,792 1,703 199,495
Deferred compensation of subsidiary -- (1,319) (1,319)
Accumulated deficit (141,507) (38,056) (179,563)
--------- --------- ---------
Total stockholders' equity 56,313 (8,870) 18,641
========= ========= ========= =========
$ 114,165 $ 22,084 $ -- $ 106,887
========= ========= ========= =========