Quarterly report pursuant to Section 13 or 15(d)

Acquisitions, Investments, and Licenses (Tables)

v2.4.0.8
Acquisitions, Investments, and Licenses (Tables)
6 Months Ended
Jun. 30, 2014
Business Acquisition [Line Items]  
Pro forma disclosure for acquisitions
The following table includes the pro forma results for the three and six months ended June 30, 2014 of the combined companies as though the acquisition of OPKO Biologics and OPKO Renal had been completed as of the beginning of the period presented.
 
For the three months ended June 30,
 
For the six months ended June 30,
(In thousands)
2014
2013
 
2014
2013
Revenues
23,545
23,821
 
45,818
55,197
Net loss
(26,077)
(14,238)
 
(71,163)
(51,809)
Net loss attributable to common shareholders
(25,480)
(13,279)
 
(70,026)
(50,303)
Basic and diluted loss per share
$(0.06)
$(0.03)
 
$(0.17)
$(0.13)
Maximum exposure of unconsolidated investments
The following table reflects our maximum exposure, accounting method, ownership interest and underlying equity in net assets of each of our unconsolidated investments as of June 30, 2014:
(Dollars in thousands, except per share prices)
Investee name
 
Year
invested
 
Accounting method
 
Ownership at
June 30, 2014
 
Investment
 
Underlying equity in net assets
 
Closing share price
at June 30, 2014
for investments
available for sale
Neovasc
 
2011
 
Equity method
 
6
%
 
3,798

 
1,454

 
 
 
Senesco
 
2014
 
Equity method
 
4
%
 
750

 
366

 
 
 
RXi
 
2013
 
Equity method
 
15
%
 
15,000

 
1,918

 
 
 
Pharmsynthez
 
2013
 
Equity method
 
17
%
 
11,300

 
6,405

 
 
 
Zebra
 
2013
 
VIE, equity method
 
19
%
 
2,000

 
840

 
 
 
Cocrystal
 
2009
 
Equity method
 
16
%
 
5,476

 
993

 
 
 
Neovasc options
 
2011
 
Investment available for sale
 
N/A

 
925

 
 
 

$
6.25

ChromaDex
 
2012
 
Investment available for sale
 
1
%
 
1,320

 
 
 
 
$
1.30

ARNO
 
2013
 
Investment available for sale
 
5
%
 
2,000

 
 
 
 
$
1.78

Cocrystal 10 yr warrants
 
2014
 
Investment available for sale
 
N/A

 
500

 
 
 
 
 
Senesco warrants
 
2014
 
Investment available for sale
 
N/A

 
228

 
 
 
 
 
Plus unrealized gains on investments, options and warrants, net
 
8,827

 
 
 
 
 
Less accumulated losses in investees
 
(18,696
)
 
 
 
 
 
Total carrying value of equity method investees and investments, available for sale
 
$
33,428

 
 
 
 
 
Cytochroma and PROLOR
 
Business Acquisition [Line Items]  
Estimated fair value of the net assets acquired and liabilities assumed in the acquisition of at the date of acquisition
The following table summarizes the purchase price allocation and the fair value of the net assets acquired and liabilities assumed in the acquisitions of OPKO Renal and OPKO Biologics at the dates of acquisition. The purchase price allocation for OPKO Biologics is subject to change while contingencies that existed on the acquisition date are resolved:
(In thousands)
OPKO Renal
 
OPKO Biologics
Current assets (1)
$
1,224

 
$
21,500

Intangible assets:
 
 
 
In-process research and development
191,530

 
590,200

Patents
210

 

Total intangible assets
191,740

 
590,200

Goodwill
2,411

 
139,784

Property, plant and equipment
306

 
1,057

Other assets

 
371

Accounts payable and accrued expenses
(1,069
)
 
(9,866
)
Deferred tax liability

 
(156,403
)
Total purchase price
$
194,612

 
$
586,643

(1)Current assets include cash of $0.4 million and $20.5 million related to the OPKO Renal and OPKO Biologics acquisitions, respectively.
SciVac
 
Business Acquisition [Line Items]  
Summary of consolidated assets and non-recourse liabilities related to SciVac
The following table represents the consolidated assets and non-recourse liabilities related to SciVac as of June 30, 2014 and December 31, 2013. These assets are owned by, and these liabilities are obligations of, SciVac, not us.
(In thousands)
June 30,
2014
 
December 31,
2013
Assets
 
 
 
Current assets:
 
 
 
Cash and cash equivalents
$
433

 
$
2

Accounts receivable, net
516

 
283

Inventories, net
1,700

 
1,696

Prepaid expenses and other current assets
529

 
218

Total current assets
3,178

 
2,199

Property, plant and equipment, net
1,412

 
1,374

Intangible assets, net
1,055

 
1,111

Goodwill
1,757

 
1,821

Other assets
263

 
261

Total assets
$
7,665

 
6,766

Liabilities
 
 
 
Current liabilities:
 
 
 
Accounts payable
$
1,007

 
$
1,136

Accrued expenses
8,298

 
6,498

Notes payable
3,903

 
1,537

Total current liabilities
13,208

 
9,171

Other long-term liabilities
261

 
1,240

Total liabilities
$
13,469

 
$
10,411