Exhibit 99.2
ORPHAN MEDICAL, INC.
CONDENSED BALANCE SHEETS
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SEPTEMBER 30,
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2001 2001
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(unaudited) (proforma)
Assets
Current assets:
Cash and cash equivalents $ 6,050,437 $ 19,076,174
Available-for-sale securities
Other current assets 3,337,472 3,337,472
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Total current assets 9,387,909 22,413,646
Property and equipment, net 409,048 409,048
Other assets
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Total assets $ 9,796,957 $ 22,822,694
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Liabilities and shareholders' equity Current liabilities:
Accounts payable $ 216,350 $ 216,350
Accrued expenses 3,330,161 3,330,161
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Total current liabilities 3,546,511 3,546,511
Commitments
Shareholders' equity:
Convertible preferred stock 121 121
Common stock 85,347 102,417
Additional paid-in capital 59,174,618 72,183,285
Accumulated deficit (53,009,640) (53,009,640)
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6,250,446 19,276,183
Unrealized gain (loss) on available-for-sale securities
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Total shareholders' equity 6,250,446 19,276,183
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Total liabilities and shareholders' equity $ 9,796,957 $ 22,822,694
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The proforma balance sheet at September 30, 2001 reflects the December 10, 2001
sales of approximately 1.7 million newly issued shares of common stock for net
proceeds of $13.0 million, as if the transactions had occurred as of that date.