Send us Feedback

Abraxis BioScience (ABII)
Analysis
SUMMARY
BULLS
BEARS
TOPICS
Data
DATA CENTRAL
STOCK CHART
Financials
SEC FILINGS
BALANCE
INCOME
CASH FLOW

ABII » Topics » (Uses) and Sources of Cash

This excerpt taken from the ABII 10-K filed Mar 6, 2009.

(Uses) and Sources of Cash

FACE="Times New Roman" SIZE="2">Operating Activities

Net cash used in operating activities was $315.5 million for the
year ended December 31, 2008 compared to cash used in operating activities of $2.9 million in 2007. The increase in cash used in operations of $312.6 million was primarily due to cash collateral set aside for the $268.0 million payment to
reacquire the exclusive rights to market Abraxane in the U.S. and estimated remaining payments under the Co-Promotion Agreement of $18 million. Cash outflow for prepaid expenses, accounts payable and accrued expenses accounted for additional
increases in cash used for operating activities. The uses of cash were partially offset by cash provided from decreases in accounts receivable, inventory and higher interest income earned on our cash balance in 2008.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">Net cash used in operating activities was $2.9 million for the year ended December 31, 2007 compared to cash provided by operating activities
of $170.9 million in 2006. The $173.8 million decrease in cash provided by

 


45






Table of Contents



operating activities in 2007 was primarily due to the receipt in 2006 of a $200 million upfront fee associated with the Co-Promotion Agreement. This payment
was recorded as deferred revenue and is being recognized over the period of the agreement. Additionally, the decrease in cash provided by operating activities was impacted by an increase in accounts receivable and other current assets offset by an
increase in accounts payable.

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki