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MiddleBrook Pharmaceuticals Reports Third Quarter 2008 Financial Results

sets 968 -

Changes in:

Accounts receivable 111 (1,029)

Inventories 269 988

Prepaid expenses and other current assets 472 483

Deposits other than on property and

equipment, and other assets (250) 250

Accounts payable 931 706

Accrued expenses (657) (1,975)

Deferred product revenue - (189)

Net cash used in operating activities (15,043) (28,662)

Cash flows from investing activities:

Repurchase of Keflex assets from Deerfield (12,190) -

Purchases of marketable securities (11,240) (5,868)

Sale and maturities of marketable securities 2,380 5,530

Purchases of property and equipment (39) (246)

Deposits on property and equipment - (1,150)

Proceeds from sale of fixed assets 472 -

Net cash used in investing activities (20,617) (1,734)

Cash flows from financing activities:

Proceeds from private placement of common

stock, net of issue costs 115,943 22,412

Payments on lines of credit - (2,000)

Proceeds from exercise of common stock

options 758 115

Proceeds from exercise of common stock

warrants 164 -

Payment to settle warrant liability (8,814) -

Net cash provided by financing


SOURCE MiddleBrook Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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