9
BioTech Navigator, March 1998
Selected Balance Sheet Data Year Ends Dec 31
Income Statement Year Ends Dec 31
Quarterly Income Statement
Microcide Pharmaceuticals Inc.
Valuation
To overcome the problem of an-
tibacterial resistance, Microcide is
using its technology to find drugs that
can genetically attack the bacterial
pathogens. The company continues to
build its proprietary compound li-
brary, a collection of highly diverse
natural product extracts and synthetic
molecules. This library, now contains
over 175,000 such samples. Unlike
combinatorial libraries that generate
many subtle variations of a single
"backbone" structure, Micorcide's
library houses many diverse
"backbone," which can be screened
using high-flux, robotized assays.
Once a "backbone" is identified as
having biological activity, combinato-
rial chemistries can be applied to
make many variants from which to
choose a lead compound for further
evaluation.
So far, the company's antibiotic
drug discovery capabilities has at-
tracted a series of collaborations with
major pharmaceutical companies that
has so far contribute more than $50
million in precommerical funding.
So far, Microcide has attracted Ortho/
Johnson & Johnson, Daiichi and
Pfizer.
Currently, the shares of Micocide
are trading around in the low range of
its 52-weeks period. BTN, believes
that the company is very promising
with its research and development
activities because this is the third
largest pharmaceutical market, with
systemic antibiotics totaling $22.5
billion in worldwide sales, including
$6.4 billion in the United States, for
year 1996 and there are significant
unmet clinical needs, caused by grow-
ing bacterial resistance problems, that
require new antibacterial therapies.
Q1 3-97
Q2 6-97
Q3 9-97
Q4 12-97
Revenue
EPS
4,107
-.04
2,994
-.17
4,078
-.17
3,715
-.09
Q1 3-98 (E)
Q2 6-98 (E)
Q3 9-98 (E)
Q4 12-98 (E)
Revenue
EPS
3,750
-.12
3,750
-.12
3,750
-.12
3,750
-.12
1997
1996
1995
Assets
Cash & Equivalent Assets
Inventory
Total Current Assets
Net property, Plant and Equipment
Total Assets
40,387
0
40,387
11,395
51,782
47,508
0
47,842
8,825
56,826
8,517
0
8,655
4,606
13,493
Liabilities & Shareholders' Equity
Current Liabilities
Long Term Debt
Shareholders' Equity
Total Liabilities & Shareholders' Equity
4,386
500
46,896
51,782
5,300
811
50,574
56,826
2,267
1,920
6,151
13,493
1997
1996
1995
Revenue
Product Sales
Royalties
Contract Revenue & Fees
Total Revenue
0
0
14,894
14,894
0
0
11,273
11,273
0
0
4,985
4,985
Expenses
Cost of Goods Sold
Research & Development
Selling, Gen. & Admin.
Total Expenses
0
17,877
4,091
21,968
0
10,717
2,889
13,606
0
6,400
2,080
8,480
Income (loss) before Taxes
Net Loss
Earnings per Share
Shares outstanding (mil)
(7,074)
(7,074)
(.43)
10,817
(670)
(670)
(.07)
9,676
(3,516)
(3,516)
(.44)
8,052
