10-Q Filing

ROCK CREEK PHARMACEUTICALS, INC. CIK: 776008 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0000950123-11-074748`
Period End Date	20110630
Filing Date	20110809
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	cigx-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 65 Cash Flow Statement 46 Stockholders Equity 11

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.19M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	187.50M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	187.50M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.36M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.18M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.17M	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$62.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	127.12M	shares	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$52.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	135.06M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	127.12M	shares	Point-in-time
Receivable from sale of licensing rights	`ReceivableFromSaleOfLicensingRights`	$27.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	135.06M	shares	Point-in-time
Receivable from sale of licensing rights	`ReceivableFromSaleOfLicensingRights`	$31.00K	USD	Point-in-time
Inventories, net	`InventoryNet`	$3.42M	USD	Point-in-time
Inventories, net	`InventoryNet`	$3.56M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$350.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$79.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.92M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.04M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.17M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.47M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$602.00K	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$627.00K	USD	Point-in-time
Receivable from sale of licensing rights, less current maturities	`ReceivableFromSaleOfLicensingRightsCurrentAssets`	$63.00K	USD	Point-in-time
Receivable from sale of licensing rights, less current maturities	`ReceivableFromSaleOfLicensingRightsCurrentAssets`	$80.00K	USD	Point-in-time
MSA escrow funds	`EscrowDeposit`	$368.00K	USD	Point-in-time
MSA escrow funds	`EscrowDeposit`	$368.00K	USD	Point-in-time
Total assets	`Assets`	$20.29M	USD	Point-in-time
Total assets	`Assets`	$23.42M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$2.50M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$2.52M	USD	Point-in-time
Accounts payable, trade	`AccountsPayableTradeCurrent`	$1.58M	USD	Point-in-time
Accounts payable, trade	`AccountsPayableTradeCurrent`	$1.83M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$762.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$424.00K	USD	Point-in-time
Due to stockholders	`DueToOfficersOrStockholdersCurrent`	$50.00K	USD	Point-in-time
Due to stockholders	`DueToOfficersOrStockholdersCurrent`	$50.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.58M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$5.05M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$3.81M	USD	Point-in-time
Total liabilities	`Liabilities`	$9.63M	USD	Point-in-time
Total liabilities	`Liabilities`	$8.95M	USD	Point-in-time
Commitments and contingencies (note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock(A)	`CommonStockValue`	$14.00K	USD	Point-in-time
Common stock(A)	`CommonStockValue`	$13.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$181.34M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$196.23M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-170.69M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-181.77M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$10.66M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$14.47M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$20.29M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$23.42M	USD	Point-in-time

Income Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$418.00K	USD	2 Qtrs
Net sales	`SalesRevenueGoodsNet`	$262.00K	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$484.00K	USD	2 Qtrs
Net sales	`SalesRevenueGoodsNet`	$335.00K	USD	1 Quarter
Product cost of goods sold	`CostOfGoodsSold`	$1.21M	USD	2 Qtrs
Product cost of goods sold	`CostOfGoodsSold`	$533.00K	USD	1 Quarter
Product cost of goods sold	`CostOfGoodsSold`	$745.00K	USD	1 Quarter
Product cost of goods sold	`CostOfGoodsSold`	$972.00K	USD	2 Qtrs
Federal excise taxes and USDA tobacco buyout program assessment	`FederalExciseTaxesAndUsdaTobaccoBuyoutProgramAssessment`	$4.00K	USD	1 Quarter
Federal excise taxes and USDA tobacco buyout program assessment	`FederalExciseTaxesAndUsdaTobaccoBuyoutProgramAssessment`	$3.00K	USD	1 Quarter
Federal excise taxes and USDA tobacco buyout program assessment	`FederalExciseTaxesAndUsdaTobaccoBuyoutProgramAssessment`	$6.00K	USD	2 Qtrs
Federal excise taxes and USDA tobacco buyout program assessment	`FederalExciseTaxesAndUsdaTobaccoBuyoutProgramAssessment`	$6.00K	USD	2 Qtrs
Gross loss	`GrossProfit`	$-560.00K	USD	2 Qtrs
Gross loss	`GrossProfit`	$-414.00K	USD	1 Quarter
Gross loss	`GrossProfit`	$-274.00K	USD	1 Quarter
Gross loss	`GrossProfit`	$-736.00K	USD	2 Qtrs
Marketing and distribution	`SellingAndMarketingExpense`	$570.00K	USD	1 Quarter
Marketing and distribution	`SellingAndMarketingExpense`	$1.39M	USD	2 Qtrs
Marketing and distribution	`SellingAndMarketingExpense`	$1.28M	USD	2 Qtrs
Marketing and distribution	`SellingAndMarketingExpense`	$862.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.62M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$14.10M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$7.88M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$11.27M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$478.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$885.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.13M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.16M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$13.02M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.66M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$10.40M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$17.54M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-4.94M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-13.43M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-10.96M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-18.28M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$11.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$26.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$29.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$51.00K	USD	2 Qtrs
Interest expense	`InterestExpenseDebt`	$143.00K	USD	2 Qtrs
Interest expense	`InterestExpenseDebt`	$69.00K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$204.00K	USD	2 Qtrs
Interest expense	`InterestExpenseDebt`	$99.00K	USD	1 Quarter
Miscellaneous income	`OtherNonoperatingExpense`	$-3.00K	USD	1 Quarter
Miscellaneous income	`OtherNonoperatingExpense`	$-4.00K	USD	2 Qtrs
Miscellaneous income	`OtherNonoperatingExpense`	$3.00K	USD	1 Quarter
Miscellaneous income	`OtherNonoperatingExpense`	$5.00K	USD	2 Qtrs
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-5.00M	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-11.08M	USD	2 Qtrs
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-18.43M	USD	2 Qtrs
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-13.50M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-18.43M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-11.08M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.00M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.50M	USD	1 Quarter
Net loss basic and diluted per common share	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	2 Qtrs
Net loss basic and diluted per common share	`EarningsPerShareBasicAndDiluted`	$-0.16	USD	2 Qtrs
Net loss basic and diluted per common share	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Net loss basic and diluted per common share	`EarningsPerShareBasicAndDiluted`	$-0.11	USD	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageSharesOutstandingBasicAndDiluted`	131.95B	shares	2 Qtrs
Weighted average shares outstanding, basic and diluted	`WeightedAverageSharesOutstandingBasicAndDiluted`	119.50B	shares	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageSharesOutstandingBasicAndDiluted`	114.85B	shares	2 Qtrs
Weighted average shares outstanding, basic and diluted	`WeightedAverageSharesOutstandingBasicAndDiluted`	134.56B	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-18.43M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-11.08M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.00M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$135.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$185.00K	USD	2 Qtrs
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$-32.00K	USD	2 Qtrs
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$6.00K	USD	2 Qtrs
Provision for inventory obsolescence	`InventoryWriteDown`	$-42.00K	USD	2 Qtrs
Provision for inventory obsolescence	`InventoryWriteDown`	$59.00K	USD	2 Qtrs
Loss (gain) on asset disposal	`GainLossOnDispositionOfAssets`	$-5.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$8.49M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.74M	USD	2 Qtrs
Current assets	`IncreaseDecreaseInOperatingAssets`	$1.08M	USD	2 Qtrs
Current assets	`IncreaseDecreaseInOperatingAssets`	$-190.00K	USD	2 Qtrs
Current liabilities	`IncreaseDecreaseInOperatingLiabilities`	$581.00K	USD	2 Qtrs
Current liabilities	`IncreaseDecreaseInOperatingLiabilities`	$-427.00K	USD	2 Qtrs
Net cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.46M	USD	2 Qtrs
Net cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-11.24M	USD	2 Qtrs
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$54.00K	USD	2 Qtrs
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$8.00K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$457.00K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$929.00K	USD	2 Qtrs
Proceeds from sale of licensing rights	`ProceedsFromSaleOfLicensingRights`	$14.00K	USD	2 Qtrs
Proceeds from sale of licensing rights	`ProceedsFromSaleOfLicensingRights`	$13.00K	USD	2 Qtrs
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-452.00K	USD	2 Qtrs
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-969.00K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$13.83M	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$10.00M	USD	2 Qtrs
Proceeds from stock and warrant exercise	`ProceedsFromStockAndWarrantExercise`	$-3.16M	USD	2 Qtrs
Payments on long-term debt and capital lease obligation	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$1.26M	USD	2 Qtrs
Payments on long-term debt and capital lease obligation	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$809.00K	USD	2 Qtrs
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$11.90M	USD	2 Qtrs
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$13.02M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$810.00K	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.99M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.19M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.36M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.18M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.17M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.19M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.36M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.18M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.17M	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$194.00K	USD	2 Qtrs
Cash paid during the period for interest	`InterestPaid`	$71.00K	USD	2 Qtrs

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$10.66M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$14.47M	USD	Point-in-time
Stock issuance	`StockIssuedDuringPeriodValueNewIssues`	$10.00M	USD	2 Qtrs
Warrant and option exercise	`WarrantAndOptionExercise`	$3.16M	USD	2 Qtrs
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.74M	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-18.43M	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-11.08M	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-5.00M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-13.50M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$10.66M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$14.47M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.