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Aratana Therapeutics Reports Third Quarter 2013 Financial Results
Date:11/13/2013

of each of the three programs continues; opt-in/opt-out decisions anticipated in 2014
  • B-cell Lymphoma Dog: Completed submission to the USDA for full license; full license anticipated in next twelve-to-eighteen months
  • T-cell Lymphoma Dog: Initial data has been submitted to USDA; anticipate conditional license in 2014; continue to enroll the full field trial in 2014; full license anticipated in 2015
  • Financing Update
    In October 2013, Aratana acquired Vet Therapeutics, Inc. for $30 million in upfront cash, 625,000 shares of stock ($10 million) and a promissory note for $3 million, and contingent consideration of up to $5 million in cash. Aratana also sold 1,234,375 shares in a private placement to institutional investors for an aggregate purchase price of $19.75 million, and increased the size of our term loan facility with Square 1 Bank from $5 million to $15 million.

    Financial Results
    Aratana had no revenue for the quarter and nine months ended September 30, 2013 and no revenue for the quarter and nine months ended September 30, 2012.

    Research and development expenses totaled $3.2 million for the three months ended September 30, 2013 and $7.8 million for the nine months ended September 30, 2013. This compares to $1.7 million for the three months ended September 30, 2012 and $5.3 million for the nine months ended September 30, 2012. The increase in research and development expenses for the three and nine month periods of 2013 compared to the comparable periods in 2012 is due primarily to the continuing development of our six programs, increases in staffing and the costs associated with its three option agreements.

    General and administrative expenses totaled $1.4 million for the three months ended September 30, 2013 and $3.9 million for the nine months ended September 30, 2013. This compares to $1.1 million for the
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    SOURCE Aratana Therapeutics, Inc.
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