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Unigene Reports Third Quarter 2011 Financial Results

uding any underlying assumptions, are forward-looking statements and are not statements of historical fact. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the SEC, we are under no obligation to publicly update or revise any forward-looking statements after the date of this release.

Investor Contact:
Unigene Laboratories, Inc.
Jenene Thomas
VP, Investor Relations and Business Administration

Media Contact:
Tiberend Strategic Advisors, Inc.
Jason Rando / Andrew Mielach
212-827-0020 /

Tables to followUNIGENE LABORATORIES, INC.CONDENSED BALANCE SHEETSSeptember 30, 2011December 31, 2010ASSETS

(Unaudited)Current assets:Cash and cash equivalents

$5,193,019$12,200,800Accounts receivable

1,570,7051,553,091Accounts receivable – Tarsa

463,204186,263Inventory, net

1,707,1621,417,934Prepaid expenses and other current assets

220,172699,950Due from former China joint venture partner

600,000--Total current assets

9,754,26216,058,038Noncurrent inventory

1,985,5412,881,980Property, plant and equipment, net

3,070,9863,190,117Patents and other intangibles, net

1,999,4322,670,044Investment in former China joint venture

--3,175,925Investment in Tarsa

----Deferred financing costs, net

119,834181,457Other assets

569,492313,382Total assets

$17,499,547$28,470,943LIABILITIES AND STOCKHOLDERS' DEFICITCurrent liabilities:Accounts payable

$ 1,235,206$974,998Accrued expenses

2,122,4762,834,345Current portion - deferred licensing fees

2,738,9292,290,916Current portion – deferred gain on sale/leaseback


SOURCE Unigene Laboratories, Inc.
Copyright©2010 PR Newswire.
All rights reserved

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