10-Q Filing

ROCK CREEK PHARMACEUTICALS, INC. CIK: 776008 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0001144204-12-044060`
Period End Date	20120630
Filing Date	20120809
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	cigx-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 69 Cash Flow Statement 51 Stockholders Equity 17

Balance Sheet 59 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	207.50M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.19M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	207.50M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.64M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.18M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.19M	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$43.00K	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$39.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	145.95M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	139.26M	shares	Point-in-time
Receivable from sale of licensing rights	`ReceivableFromSaleOfLicensingRights`	$30.00K	USD	Point-in-time
Receivable from sale of licensing rights	`ReceivableFromSaleOfLicensingRights`	$31.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	145.95M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	139.26M	shares	Point-in-time
Inventories, net	`InventoryNet`	$3.52M	USD	Point-in-time
Inventories, net	`InventoryNet`	$2.74M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$737.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$979.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$15.21M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.73M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.35M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.12M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$578.00K	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$561.00K	USD	Point-in-time
Receivable from sale of licensing rights, less current maturities	`ReceivableFromSaleOfLicensingRightsNoncurrent`	$50.00K	USD	Point-in-time
Receivable from sale of licensing rights, less current maturities	`ReceivableFromSaleOfLicensingRightsNoncurrent`	$34.00K	USD	Point-in-time
MSA escrow funds	`EscrowDeposit`	$368.00K	USD	Point-in-time
MSA escrow funds	`EscrowDeposit`	$481.00K	USD	Point-in-time
Total assets	`Assets`	$18.41M	USD	Point-in-time
Total assets	`Assets`	$17.08M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$2.52M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$2.52M	USD	Point-in-time
Accounts payable, trade	`AccountsPayableTradeCurrent`	$1.85M	USD	Point-in-time
Accounts payable, trade	`AccountsPayableTradeCurrent`	$2.33M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$545.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$738.00K	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`	$5.44M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.16M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$1.27M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$2.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.69M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.72M	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	`CommonStockValue`	$14.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$15.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$218.06M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$233.52M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-221.84M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-208.68M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$9.39M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$16.98M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.69M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$17.08M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$18.41M	USD	Point-in-time

Income Statement 69 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$2.76M	USD	2 Qtrs
Net sales	`SalesRevenueGoodsNet`	$1.59M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$262.00K	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$418.00K	USD	2 Qtrs
Product cost of goods sold	`CostOfGoodsSold`	$1.07M	USD	1 Quarter
Product cost of goods sold	`CostOfGoodsSold`	$972.00K	USD	2 Qtrs
Product cost of goods sold	`CostOfGoodsSold`	$1.99M	USD	2 Qtrs
Product cost of goods sold	`CostOfGoodsSold`	$533.00K	USD	1 Quarter
Federal excise taxes and USDA tobacco buyout program assessment	`ExciseTaxesOnProducts`	$5.00K	USD	2 Qtrs
Federal excise taxes and USDA tobacco buyout program assessment	`ExciseTaxesOnProducts`	$2.00K	USD	1 Quarter
Federal excise taxes and USDA tobacco buyout program assessment	`ExciseTaxesOnProducts`	$3.00K	USD	1 Quarter
Federal excise taxes and USDA tobacco buyout program assessment	`ExciseTaxesOnProducts`	$6.00K	USD	2 Qtrs
Gross profit (loss)	`GrossProfit`	$521.00K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-560.00K	USD	2 Qtrs
Gross profit (loss)	`GrossProfit`	$-274.00K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$768.00K	USD	2 Qtrs
Marketing and distribution	`SellingAndMarketingExpense`	$1.39M	USD	2 Qtrs
Marketing and distribution	`SellingAndMarketingExpense`	$1.46M	USD	1 Quarter
Marketing and distribution	`SellingAndMarketingExpense`	$570.00K	USD	1 Quarter
Marketing and distribution	`SellingAndMarketingExpense`	$2.66M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.62M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.76M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.88M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$9.09M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$478.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.26M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.10M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.13M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$8.48M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.66M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$13.86M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$10.40M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-10.96M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-7.96M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-4.94M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-13.09M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$29.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$11.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$11.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$4.00K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$143.00K	USD	2 Qtrs
Interest expense	`InterestExpenseDebt`	$91.00K	USD	2 Qtrs
Interest expense	`InterestExpenseDebt`	$42.00K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$69.00K	USD	1 Quarter
Miscellaneous income	`OtherNonoperatingIncomeExpense`	$-5.00K	USD	2 Qtrs
Miscellaneous income	`OtherNonoperatingIncomeExpense`	$-3.00K	USD	1 Quarter
Miscellaneous income	`OtherNonoperatingIncomeExpense`	-	USD	2 Qtrs
Miscellaneous income	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.00M	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-13.17M	USD	2 Qtrs
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-8.00M	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-11.08M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.00M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.00M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.08M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.17M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.17M	USD	2 Qtrs
Net loss basic and diluted per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.09	USD	2 Qtrs
Net loss basic and diluted per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Net loss basic and diluted per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	1 Quarter
Net loss basic and diluted per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	2 Qtrs
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	145.78M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	143.71M	shares	2 Qtrs
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	134.56M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	131.95M	shares	2 Qtrs

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.00M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.00M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.08M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.17M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.17M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$185.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$248.00K	USD	2 Qtrs
(Recovery) provision for bad debt	`ProvisionForDoubtfulAccounts`	$-2.00K	USD	2 Qtrs
(Recovery) provision for bad debt	`ProvisionForDoubtfulAccounts`	$-32.00K	USD	2 Qtrs
Provision for inventory obsolescence	`InventoryWriteDown`	$-42.00K	USD	2 Qtrs
Provision for inventory obsolescence	`InventoryWriteDown`	$-14.00K	USD	2 Qtrs
Loss on asset disposal	`GainLossOnSaleOfPropertyPlantEquipment`	$-5.00K	USD	2 Qtrs
Loss on asset disposal	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.59M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.74M	USD	2 Qtrs
Current assets	`IncreaseDecreaseInOperatingAssets`	$-190.00K	USD	2 Qtrs
Current assets	`IncreaseDecreaseInOperatingAssets`	$1.01M	USD	2 Qtrs
Current liabilities	`IncreaseDecreaseInOperatingLiabilities`	$321.00K	USD	2 Qtrs
Current liabilities	`IncreaseDecreaseInOperatingLiabilities`	$581.00K	USD	2 Qtrs
Net cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-11.04M	USD	2 Qtrs
Net cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.46M	USD	2 Qtrs
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$17.00K	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`	$12.00K	USD	2 Qtrs
Proceeds from sale of licensing rights	`ProceedsFromSaleOfLicensingRights`	$15.00K	USD	2 Qtrs
Proceeds from sale of licensing rights	`ProceedsFromSaleOfLicensingRights`	$13.00K	USD	2 Qtrs
Net cash flows from (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-452.00K	USD	2 Qtrs
Net cash flows from (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.00K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.66M	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$10.00M	USD	2 Qtrs
Proceeds from stock option and warrant exercise	`ProceedsFromStockAndWarrantExercise`	$11.22M	USD	2 Qtrs
Proceeds from stock option 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`	$1.26M	USD	2 Qtrs
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$11.62M	USD	2 Qtrs
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$11.90M	USD	2 Qtrs
MSA escrow deposits	`DepositsToMsaEscrow`	-	USD	2 Qtrs
MSA escrow deposits	`DepositsToMsaEscrow`	$113.00K	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.99M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$448.00K	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`	$10.64M	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`	$10.19M	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`	$10.64M	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`	$10.19M	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$45.00K	USD	2 Qtrs
Cash paid during the period for interest	`InterestPaid`	$71.00K	USD	2 Qtrs

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquity`	$9.39M	USD	Point-in-time
Balances	`StockholdersEquity`	$16.98M	USD	Point-in-time
Balances	`StockholdersEquity`	$11.69M	USD	Point-in-time
Stock issuance	`StockIssuedDuringPeriodValueNewIssues`	$1.66M	USD	1 Quarter
Stock issuance	`StockIssuedDuringPeriodValueNewIssues`	-	USD	1 Quarter
Warrant and option exercise	`WarrantAndOptionExercise`	$419.00K	USD	1 Quarter
Warrant and option exercise	`WarrantAndOptionExercise`	$10.80M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$298.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.29M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.00M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.00M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.08M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.17M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.17M	USD	2 Qtrs
Balances	`StockholdersEquity`	$9.39M	USD	Point-in-time
Balances	`StockholdersEquity`	$16.98M	USD	Point-in-time
Balances	`StockholdersEquity`	$11.69M	USD	Point-in-time

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