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Kindred Biosciences Announces Second Quarter 2014 Financial Results
Date:8/13/2014

et loss of $14.3 million, or $0.80 per basic and diluted share compared to a net loss for the six months ended June 30, 2013, of $620,000, or $0.21 per basic and diluted share.  The net loss for the three and six months ended June 30, 2014, includes charges related to stock-based compensation expense of $1.2 million and $2.3 million, respectively, as compared to charges of $59,000 and $98,000 for the comparable periods of 2013, respectively.

The Company had cash, cash equivalents and short-term investments of $112.4 million at June 30, 2014.  For the full year 2014 the Company, reiterating previous guidance, expects operating expenses to be in the range of $25 million to $35 million, excluding the impact of stock-based compensation expense and the impact of acquisitions.  The Company expects stock-based compensation expense for 2014 to be approximately $4.5 million. 

Research and development expense is anticipated to increase for the foreseeable future as the Company continues to increase headcount, commence pivotal studies and further develop its small molecule compounds and biologics development programs.  Due to the inherently unpredictable nature of its development, the Company cannot reasonably estimate or predict the nature, specific timing or estimated costs of the efforts that will be necessary to complete the development of its product candidates.

The Company expects general and administrative expense to increase in the following quarters as it executes plans to commercialize its product candidates, builds its corporate infrastructure and incurs costs associated with being a public company.

Webcast and Conference CallKindredBio will host a conference call today at 4:30 p.m. Eastern Time.
Interested parties may access the call by dialing toll-free (855) 433-0927 from the US, or (484) 756-4262 internationally, and using conference ID 82174423.  The call will also be w
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SOURCE Kindred Biosciences, Inc.
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