Replies to post #27099 on Seelos Therapeutics Inc (SEELQ)

[OldtimeramI]

Eico.

The pro forma only goes beyond December 31, 2016 with respect to the Ferring Deal. Actually it doesn't. It shows you what the numbers would have looked like if the Ferring deal would have been finalized on December 31,2016.


Under Assets, look at the cash amount pro forma. It states $6,937,000. That is what the December 31, 2016 cash would have looked like if they closed the Ferring deal on December 31, 2016.


Look at the press release for the up to date cash amount.


Fourth Quarter and Full Year Financial Results




Total revenues for the quarter and year to date periods ended December 31, 2016 were $0.4 million and $5.8 million, respectively, as compared to $2.6 million and $4.8 million for the quarter and year to date periods ended December 31, 2015, respectively. The decrease during the fourth quarter comparison was primarily due to license fee revenue of $2.25 million recognized in the fourth quarter of 2015 associated with the Company’s former partner, Ferring. The increase during the full year comparison was primarily due to increased license fee revenue and royalty revenue in the current year. Net loss for the quarter ended December 31, 2016 was $0.3 million, or loss per share of $0.04, compared to a net loss of $2.3 million, or $0.05 per share for the fourth quarter of 2015. Net loss for the year ended December 31, 2016 was $7.4 million, or loss per share of $1.14, compared to a net loss of $19.0 million, or loss per share of $3.83 for the year ended December 31, 2015. The reduction in the net loss during the current year periods as compared to the prior year periods is a result of decreased research and development expenses as well as decreased general and administrative expenses. Also reducing the net loss for the quarter and year ended December 31, 2016 was a non-cash change in the fair value of the Company’s warrant liabilities in the amount of $2.4 million and $7.5 million, respectively.




As of March 8, 2017, the Company’s cash totaled $5.4 million, compared to $2.1 million as of December 31, 2016.

[OldtimeramI]

Finally a company document that actually has the $500 k cash burn per month that you were writing about over a month ago. Must have had access to I.R. as I never saw this publically until now.

https://www.sec.gov/Archives/edgar/data/1017491/000101749117000050/apricorporateupdateapril.htm


Except - one small detail.

As of March 8, 2017, the Company’s cash totaled $5.4 million, compared to $2.1 million as of December 31, 2016.

http://ir.apricusbio.com/phoenix.zhtml?c=118007&p=irol-newsArticle&ID=2253561


Item 2.02 Results of Operations and Financial Condition




On April 17, 2017, Apricus Biosciences, Inc. (the “Company”), reported that, as of March 31, 2017, the Company had approximately $3.8 million in cash and cash equivalents. This amount is preliminary, has not been audited and is subject to change upon completion of the Company’s review of its unaudited consolidated financial statements as of and for the three months ended March 31, 2017.


https://www.sec.gov/Archives/edgar/data/1017491/000101749117000052/a8-kapril172017.htm


Seems like $1.6 million burned through in 24 days. Would you say that it's fair to assume that I.R. mislead you with the $500 k per month cash burn statement back when you shared it?