10-K Filing

ROCK CREEK PHARMACEUTICALS, INC. CIK: 776008 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001144204-16-089559`
Period End Date	20151231
Filing Date	20160322
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	rcpi-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 48 Cash Flow Statement 74 Stockholders Equity 17

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$395.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.88M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$493.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	314.80M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$485.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	314.80M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$721.00K	USD	Point-in-time
Current assets of discontinued operations (Note 5)	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$6.00K	USD	Point-in-time
Current assets of discontinued operations (Note 5)	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$3.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	11.57M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.72M	shares	Point-in-time
Insurance proceeds receivable	`InsuranceProceedsReceivableCurrent`	$6.68M	USD	Point-in-time
Insurance proceeds receivable	`InsuranceProceedsReceivableCurrent`	$62.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	11.57M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.72M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.04M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.80M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$170.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$207.00K	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$55.00K	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$402.00K	USD	Point-in-time
MSA escrow funds	`EscrowDeposit`	$482.00K	USD	Point-in-time
MSA escrow funds	`EscrowDeposit`	$482.00K	USD	Point-in-time
Restricted cash (Note 1)	`RestrictedCashAndCashEquivalentsNoncurrent`	-	USD	Point-in-time
Restricted cash (Note 1)	`RestrictedCashAndCashEquivalentsNoncurrent`	$17.30M	USD	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNoncurrentNet`	$478.00K	USD	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNoncurrentNet`	-	USD	Point-in-time
Discontinued operations assets (Note 5)	`DisposalGroupIncludingDiscontinuedOperationOtherNoncurrentAssets`	$25.00K	USD	Point-in-time
Discontinued operations assets (Note 5)	`DisposalGroupIncludingDiscontinuedOperationOtherNoncurrentAssets`	$24.00K	USD	Point-in-time
Total assets	`Assets`	$8.92M	USD	Point-in-time
Total assets	`Assets`	$19.55M	USD	Point-in-time
Accounts payable, trade	`AccountsPayableTradeCurrent`	$5.47M	USD	Point-in-time
Accounts payable, trade	`AccountsPayableTradeCurrent`	$3.21M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.88M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$8.93M	USD	Point-in-time
Current portion of long term debt	`LongTermDebtCurrent`	$12.35M	USD	Point-in-time
Current portion of long term debt	`LongTermDebtCurrent`	-	USD	Point-in-time
Due to stockholders	`DueToOfficersOrStockholdersCurrent`	$50.00K	USD	Point-in-time
Due to stockholders	`DueToOfficersOrStockholdersCurrent`	$50.00K	USD	Point-in-time
Current liabilities of discontinued operations (Note 5)	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$533.00K	USD	Point-in-time
Current liabilities of discontinued operations (Note 5)	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$433.00K	USD	Point-in-time
Accrued settlement (Note 16)	`SettlementLiabilitiesCurrent`	-	USD	Point-in-time
Accrued settlement (Note 16)	`SettlementLiabilitiesCurrent`	$6.68M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$22.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.40M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$350.00K	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$8.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$19.75M	USD	Point-in-time
Total liabilities	`Liabilities`	$30.19M	USD	Point-in-time
Commitments and contingencies (Note 16)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 16)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock (A)	`CommonStockValue`	$1.00K	USD	Point-in-time
Common stock (A)	`CommonStockValue`	$1.00K	USD	Point-in-time
Preferred stock (B)	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock (B)	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$299.29M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$292.05M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-309.94M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-302.88M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-10.84M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-10.65M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$6.98M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$8.92M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$19.55M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	-	USD	Annual
Net sales	`SalesRevenueGoodsNet`	-	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	-	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	-	USD	Annual
Gross profit (loss)	`GrossProfit`	-	USD	Annual
Gross profit (loss)	`GrossProfit`	-	USD	Annual
Marketing	`SellingAndMarketingExpense`	-	USD	Annual
Marketing	`SellingAndMarketingExpense`	-	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$8.83M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$28.97M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$3.61M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$2.48M	USD	Annual
Total operating expenses	`OperatingExpenses`	$32.58M	USD	Annual
Total operating expenses	`OperatingExpenses`	$11.31M	USD	Annual
Operating loss from continuing operations	`OperatingIncomeLoss`	$-32.58M	USD	Annual
Operating loss from continuing operations	`OperatingIncomeLoss`	$-11.31M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$22.00K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.00K	USD	Annual
Interest expense	`InterestExpenseDebt`	$410.00K	USD	Annual
Interest expense	`InterestExpenseDebt`	$1.00K	USD	Annual
Derivative gain	`DerivativeGainOnDerivative`	$1.36M	USD	Annual
Derivative gain	`DerivativeGainOnDerivative`	-	USD	Annual
Other income (expense)	`OtherNonoperatingIncomeExpense`	$3.60M	USD	Annual
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-558.00K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-537.00K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$4.55M	USD	Annual
Loss from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-33.12M	USD	Annual
Loss from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.76M	USD	Annual
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-6.76M	USD	Annual
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-33.12M	USD	Annual
Loss on disposal	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$-3.62M	USD	Annual
Loss on disposal	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	-	USD	Annual
Loss on discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$-1.78M	USD	Annual
Loss on discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$-82.00K	USD	Annual
Total discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-82.00K	USD	Annual
Total discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-5.40M	USD	Annual
Net loss	`NetIncomeLoss`	$-6.84M	USD	Annual
Net loss	`NetIncomeLoss`	$-38.52M	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.70	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-4.49	USD	Annual
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare`	-	USD	Annual
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare`	$-0.73	USD	Annual
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-5.22	USD	Annual
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.70	USD	Annual
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.72M	shares	Annual
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.38M	shares	Annual

Cash Flow Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-6.84M	USD	Annual
Net loss	`NetIncomeLoss`	$-38.52M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$146.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$92.00K	USD	Annual
Intangible asset impairment loss	`ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill`	$289.00K	USD	Annual
Intangible asset impairment loss	`ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill`	-	USD	Annual
Derivative gain	`GainLossOnSaleOfDerivatives`	$1.36M	USD	Annual
Derivative gain	`GainLossOnSaleOfDerivatives`	-	USD	Annual
(Gain) loss on disposal of property and equipment	`GainLossOnDispositionOfAssets1`	$-56.00K	USD	Annual
(Gain) loss on disposal of property and equipment	`GainLossOnDispositionOfAssets1`	$281.00K	USD	Annual
Gain on release of unvested share base incentive obligation	`GainLossOnReleaseOfUnvestedOptions`	$1.12M	USD	Annual
Gain on release of unvested share base incentive obligation	`GainLossOnReleaseOfUnvestedOptions`	-	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$9.64M	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$960.00K	USD	Annual
Provision for bad debt	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$540.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$139.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-174.00K	USD	Annual
Accounts payable, trade	`IncreaseDecreaseInAccountsPayableTrade`	$324.00K	USD	Annual
Accounts payable, trade	`IncreaseDecreaseInAccountsPayableTrade`	$1.44M	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$5.00M	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$417.00K	USD	Annual
Net cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-21.88M	USD	Annual
Net cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-7.29M	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$218.00K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.00K	USD	Annual
Proceeds from note receivable	`ProceedsFromSaleOfNotesReceivable`	-	USD	Annual
Proceeds from note receivable	`ProceedsFromSaleOfNotesReceivable`	$43.00K	USD	Annual
Proceeds from sale of licensing rights	`ProceedsFromSaleOfLicensingRights`	$17.00K	USD	Annual
Proceeds from sale of licensing rights	`ProceedsFromSaleOfLicensingRights`	-	USD	Annual
Proceeds from the sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$281.00K	USD	Annual
Proceeds from the sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	Annual
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-158.00K	USD	Annual
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$273.00K	USD	Annual
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$521.00K	USD	Annual
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	Annual
Net proceeds from borrowing	`ProceedsFromRepaymentsOfDebt`	$350.00K	USD	Annual
Net proceeds from borrowing	`ProceedsFromRepaymentsOfDebt`	$2.71M	USD	Annual
Proceeds from exercise of warrants	`ProceedsFromStockOptionsExercised`	$389.00K	USD	Annual
Proceeds from exercise of warrants	`ProceedsFromStockOptionsExercised`	$4.17M	USD	Annual
Proceeds from sale of stock	`ProceedsFromStockAndWarrantExercise`	$9.97M	USD	Annual
Proceeds from sale of stock	`ProceedsFromStockAndWarrantExercise`	$4.64M	USD	Annual
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$7.22M	USD	Annual
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$14.49M	USD	Annual
Cash increase (decrease) from continuing operations	`NetCashProvidedByUsedInContinuingOperations`	$-7.54M	USD	Annual
Cash increase (decrease) from continuing operations	`NetCashProvidedByUsedInContinuingOperations`	$197.00K	USD	Annual
Net cash flows from discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	$-99.00K	USD	Annual
Net cash flows from discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	$4.06M	USD	Annual
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$98.00K	USD	Annual
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.49M	USD	Annual
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$395.00K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.88M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$493.00K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$395.00K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$3.88M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$493.00K	USD	Point-in-time
Cash paid during the year for Interest	`InterestPaid`	-	USD	Annual
Cash paid during the year for Interest	`InterestPaid`	$213.00K	USD	Annual
Reclassification of derivative liability	`EmbeddedDerivativeNoLongerBifurcatedAmountReclassifiedToStockholdersEquity`	-	USD	Annual
Reclassification of derivative liability	`EmbeddedDerivativeNoLongerBifurcatedAmountReclassifiedToStockholdersEquity`	$770.00K	USD	Annual
Relative fair value of warrants issued in connection with stock sale accounted for as derivative liabilities	`RelativeFairValueOfWarrantsIssued`	-	USD	Annual
Relative fair value of warrants issued in connection with stock sale accounted for as derivative liabilities	`RelativeFairValueOfWarrantsIssued`	$-2.13M	USD	Annual
During 2015, certain warrants were repriced in a private placement transaction, resulting in a deemed dividend	`StockIssued1`	$210.00K	USD	Annual
During 2015, certain warrants were repriced in a private placement transaction, resulting in a deemed dividend	`StockIssued1`	-	USD	Annual
Compensation related liabilities paid in stock	`CompensationRelatedLiabilitiesSettledByIssuanceOfStock`	-	USD	Annual
Compensation related liabilities paid in stock	`CompensationRelatedLiabilitiesSettledByIssuanceOfStock`	$2.49M	USD	Annual
During 2015, the agreed upon settlement for the Securities Class Action lawsuits were funded directly to an escrow account by insurers	`EscrowDepositDisbursementsRelatedToPropertyAcquisition1`	$5.90M	USD	Annual
During 2015, the agreed upon settlement for the Securities Class Action lawsuits were funded directly to an escrow account by insurers	`EscrowDepositDisbursementsRelatedToPropertyAcquisition1`	-	USD	Annual
During 2015, the obligation for the Securities Class Action lawsuits was funded directly to an escrow account by insurers	`EscrowDepositsRelatedToPropertySales`	-	USD	Annual
During 2015, the obligation for the Securities Class Action lawsuits was funded directly to an escrow account by insurers	`EscrowDepositsRelatedToPropertySales`	$5.90M	USD	Annual
During the year ended December 31, 2014, a settlement was agreed upon for the Securities Class Actions Lawsuits which was paid directly in insurance. (See Note 4)	`InsuranceProceedReceivableCurrent`	$-6.68M	USD	Annual
During the year ended December 31, 2014, a settlement was agreed upon for the Securities Class Actions Lawsuits which was paid directly in insurance. (See Note 4)	`InsuranceProceedReceivableCurrent`	-	USD	Annual
During the year ended December 31, 2014, an obligation to pay a settlement for the Securities Class Actions lawsuits was incurred. The obligation was paid directly by insurance. (See Note 4)	`ObligationToPaySettlementForSecurities`	-	USD	Annual
During the year ended December 31, 2014, an obligation to pay a settlement for the Securities Class Actions lawsuits was incurred. The obligation was paid directly by insurance. (See Note 4)	`ObligationToPaySettlementForSecurities`	$6.68M	USD	Annual

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquity`	$-10.84M	USD	Point-in-time
Balances	`StockholdersEquity`	$-10.65M	USD	Point-in-time
Balances	`StockholdersEquity`	$6.98M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.36M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$6.56M	USD	Annual
Stock options and warrant exercise	`WarrantAndOptionExercise`	$389.00K	USD	Annual
Stock options and warrant exercise	`WarrantAndOptionExercise`	$4.17M	USD	Annual
Issuance of common stock, net	`StockIssuedDuringPeriodValueNewIssues`	$9.97M	USD	Annual
Issuance of common stock, net	`StockIssuedDuringPeriodValueNewIssues`	$2.52M	USD	Annual
Issuance of common stock, net (in shares)	`StockIssuedDuringPeriodSharesNewIssues`	285,051.00	shares	Annual
Deemed dividend	`StockIssuedDuringPeriodValueStockDividend`	-	USD	Annual
Reclassification of derivative liability	`AdjustmentsToAdditionalPaidInCapitalReclassificationOfDerivativeLiability`	$-1.36M	USD	Annual
Net Loss	`NetIncomeLoss`	$-6.84M	USD	Annual
Net Loss	`NetIncomeLoss`	$-38.52M	USD	Annual
Balances	`StockholdersEquity`	$-10.84M	USD	Point-in-time
Balances	`StockholdersEquity`	$-10.65M	USD	Point-in-time
Balances	`StockholdersEquity`	$6.98M	USD	Point-in-time

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