.
.
.
EXHIBIT 99.2
3F THERAPEUTICS, INC.
BALANCE SHEET
(in thousands, except per share and share data)
SEPTEMBER 30,
2006
-----------------
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 2,599
Short-term investments 13
Accounts receivable, net 97
Other receivables 7
Inventories 376
Prepaid expenses and other current assets 137
-----------------
Total current assets 3,229
Leasehold improvements, furniture and equipment, net 296
-----------------
TOTAL ASSETS $ 3,525
=================
LIABILITIES AND SHAREHOLDERS' DEFICIT
Current liabilities:
Accounts payable $ 1,419
Accrued compensation 469
Accrued expenses 389
Deferred revenue 3,632
-----------------
Total current liabilities 5,909
Warrants 196
Shareholders' deficit:
Convertible preferred stock, Series A, B,C, D and E, $0.001
par value; 18,923,265 shares authorized; 12,577,966 shares
issued and outstanding at September 30, 2006; aggregate
value in liquidation $39,271,025 at September 30, 2006 38,544
Common stock, $0.001 par value:
Authorized shares -- 35,000,000; Issued and outstanding
shares -- 5,294,500 at September 30, 2006 5
Additional paid-in capital 6,818
Accumulated deficit (47,947)
-----------------
Total shareholders' deficit (2,580)
-----------------
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT $ 3,525
=================
</Table>
3F THERAPEUTICS, INC.
STATEMENTS OF OPERATIONS
(unaudited)
(in thousands, except per share data)
THREE MONTHS NINE MONTHS
ENDED SEPTEMBER 30, ENDED SEPTEMBER 30,
2006 2006
------------------- -------------------
Net product sales $ 8 $ 86
License revenue 3,649 11,031
----------------- ------------------
Total revenue 3,657 11,117
Cost of product sales and license revenue 249 940
----------------- ------------------
Gross profit 3,408 10,177
Operating expenses:
Sales and marketing 296 544
Research and development 1,706 5,286
General and administrative 2,062 4,768
----------------- ------------------
Total operating expenses 4,064 10,598
----------------- ------------------
Operating loss (656) (421)
Net interest income 55 248
----------------- ------------------
Pretax loss (601) (173)
Income tax expense (15) (55)
----------------- ------------------
Net loss $ (616) $ (228)
================= ==================
</Table>