rprx

Repros Therapeutics Inc (NASDAQ:RPRX) announced financial results for the second quarter ended June 30, 2015.

Financial Results

Net loss for the three month period ended June 30, 2015, was ($7.8) million or ($0.32) per share as compared to a net loss of ($8.7) million or ($0.38) per share for the same period in 2014. The net loss for the six month period ended June 30, 2015, was ($16.3) million or ($0.67) per share as compared to a net loss of ($17.5) million or ($0.76) per share for the same period in 2014. The decreases were primarily due to decreased clinical development expenses related to the Company’s enclomiphene product candidate, partially offset by increases in clinical development expenses related to Proellex®, payroll and benefits expenses and legal expenses.

While preparing its financial statements for the year ended December 31, 2014, the Company identified a prior period error related to its accounting for patent costs. The Company concluded this error was not material individually or in the aggregate to any of the prior reporting periods, and therefore, no restatements of previously issued financial statements were necessary. As such, revisions for the three and six months periods ended June 30, 2014are reflected in the financial statements herein. The quarter ended June 30, 2015 was not affected.

For the three month period ended June 30, 2015, research and development (“R&D”) expenses decreased 14%, or approximately $1.0 million, to $6.5 million, as compared to $7.5 million for the same period in the prior year.  The decrease was primarily due to the completion of all Phase 3 clinical trials related to our enclomiphene product candidate, partially offset by increased expenses related to the clinical development of Proellex®, salaries and legal expenses.

For the six month period ended June 30, 2015, R&D expenses decreased 9%, or approximately $1.3 million, to $13.8 million, as compared to $15.1 million for the same period in the prior year. The decrease was primarily due to the completion of all Phase 3 clinical trials related to our enclomiphene product candidate, partially offset by the payment of $2.3 million to the FDA associated with the submission of our NDA for the product candidate, increased expenses related to the clinical development of Proellex®, salaries and legal expenses.

General and administrative expenses increased 7%, or approximately $86,000, to $1.34 million for the three month period ended June 30, 2015, as compared to $1.26 million for the same period in the prior year and increased 3%, or approximately $65,000, to $2.55 million for the six month period ended June 30, 2015, as compared to $2.48 million for the same period in the prior year. The increases were primarily due to increased salary expense.

Total revenues and other income decreased to $1,000 for the three month period ended June 30, 2015 as compared to $2,000 for the same period in the prior year. Total revenue and other income decreased to $2,000 for the six month period ended June 30, 2015 as compared to $5,000 for the same period in the prior year. The decreases were primarily due to decreased cash balances resulting in decreased interest income.

Liquidity and Capital Resources

The Company had cash and cash equivalents of approximately $32.2 million as of June 30, 2015 as compared to $46.6 million as of December 31, 2014. Net cash of approximately $14.6 million and $15.3 million was used in operating activities during the six month periods ended June 30, 2015 and 2014, respectively. The major use of cash for operating activities for the six month period ended June 30, 2015 was to fund our clinical development programs and associated administrative costs. No cash was used in investing activities during the six month period ended June 30, 2015. Cash provided by financing activities during the six month period ended June 30, 2015 was approximately $102,000 due to the receipt of that amount from a former 10% shareholder of the Company in accordance with Section 16(a) under the Securities Exchange Act of 1934, as amended.

As of June 30, 2015 we had 24,281,018 shares of common stock outstanding. (Original Source)

Shares of Repros Therapeutics closed last Friday at $7.82. RPRX has a 1-year high of $22.55 and a 1-year low of $5.92. The stock’s 50-day moving average is $7.44 and its 200-day moving average is $8.12.

On the ratings front, Repros has been the subject of a number of recent research reports. In a report issued on July 28, Laidlaw analyst Yale Jen reiterated a Buy rating on RPRX, with a price target of $28, which represents a potential upside of 258.1% from where the stock is currently trading. Separately, on May 29, Ladenburg Thalmann’s Matthew Kaplan reiterated a Buy rating on the stock and has a price target of $35.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Yale Jen and Matthew Kaplan have a total average return of 23.1% and 5.4% respectively. Jen has a success rate of 54.5% and is ranked #904 out of 3728 analysts, while Kaplan has a success rate of 55.6% and is ranked #1576.

Repros Therapeutics Inc is a development stage biopharmaceutical company. The Company is engaged in the development of new drugs to treat hormonal and reproductive system disorders.