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Ambit Biosciences Announces Third Quarter 2013 Operating Results

sands) Three MonthsEnded September 30,Nine MonthsEnded September 30,2013201220132012Revenues





14,689Operating expenses:Research and development

4,4848,16920,15330,120General and administrative

3,0761,2307,0494,533Gain on sale of kinase profiling services business

(2,500)(480)(2,500)(1,600)Total operating expenses

5,0608,91924,70233,053Income (loss) from operations

2,618(4,637)1,115(18,364)Other expenses, net

(8,687)(2,028)(10,326)(3,604)Consolidated net loss





(21,968) Ambit Biosciences CorporationSelected Financial Information Condensed Consolidated Balance Sheets(in thousands) September 30,2013December 31,2012(unaudited)Cash and cash equivalents$


17,481Other assets1,0941,948Property and equipment, net816560Total assets$


19,989Accounts payable, accrued expenses and other liabilities



12,923Deferred revenue—20,671Warrant liabilities15,62310,540Redeemable non-controlling interest—3,323Convertible preferred stock—170,778Stockholders' equity (deficit)58,746(198,246)Total liabilities and stockholders' equity$


19,989 Ambit Contacts: Marcy Graham

Andrew McDonald, Ph.D.Executive Director, Investor Relations & Corp CommLifeSci Advisors, LLCAmbit Biosciences, Inc.

Founding Partner858-334-2125 

SOURCE Ambit Biosciences
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