Welcome!

Microsoft Cloud Authors: Lori MacVittie, Elizabeth White, Yeshim Deniz, Serafima Al, Janakiram MSV

News Feed Item

CollabRx Reports Q2 Fiscal Year 2013 Financial Results

CollabRx, Inc. (NASDAQ: CLRX) today announced financial results for the Second Quarter Fiscal Year 2013, which ended September 30, 2012.

Fiscal 2013 Second Quarter Financial Statement Highlights

  • The Company’s Net Loss per share in the Second Quarter of Fiscal Year 2013 was ($0.68), compared with ($0.28) in the Second Quarter of the prior fiscal year and ($0.40) Net Loss in the First Quarter of Fiscal Year 2013.
  • CollabRx recorded a Net Loss of ($1,284) in the Second Quarter of Fiscal Year 2013 compared with ($476) in the Second Quarter of the prior fiscal year.
  • Operating Expenses totaled $1,347 and included a full quarter of the expenses of the merged company. In addition to approximately $500 in transaction-related and employment retention costs, operating expenses included approximately $280 in non-cash stock compensation (ASC Topic 718) and depreciation / amortization expenses.
  • CollabRx ended the Second Quarter of Fiscal Year 2013 with approximately $6.2 million in cash.

Business Highlights

  • On July 12, 2012, the Company, under its former name, Tegal Corporation, announced the closing of a transaction to acquire CollabRx, Inc., a development-stage data analytics company that uses cloud-based expert systems to inform healthcare decision-making. The Company consolidated operations from Petaluma, CA and Palo Alto, CA into new headquarters in San Francisco, CA.
  • On September 27, 2012, the Company amended its charter to change its name to CollabRx, Inc. and began trading on the NASDAQ CM under the symbol CLRX.
  • During the quarter, CollabRx signed an exclusive license agreement to provide a version of its proprietary Therapy Finder™ tool to MedPage Today, Everyday Health, Inc.'s rapidly growing online site. Everyday Health reports that 96% of oncologists are served by MedPage Today, which had over 1.6 million unique visitors in June 2012, according to comScore. In addition to license fees, a portion of the revenue generated by sponsorships to Everyday Health’s “Oncology Next” service is to be shared with CollabRx.
  • CollabRx announced a multi-year partnership agreement with Life Technologies Corporation (NASDAQ: LIFE) for development and commercialization of CollabRx technology and content resources to be used in conjunction with Life Technologies’ global cancer diagnostics development and its laboratory developed test services business.

“We have emerged quickly and powerfully in the few short weeks since we formally launched as the publicly traded CollabRx, Inc.,” said Chairman and Co-CEO Thomas Mika. “The agreements that we signed with Everyday Health and Life Technologies marks the entry of the Company into its commercialization phase and validates the business model in two key sectors of the health care market. We have a strong pipeline of additional strategic deals that will build on our platform and lead to significant future revenues.”

“CollabRx is at the forefront of providing actionable information to physicians and patients in the cancer space, where targeted therapies are guided by genomic testing and other molecular biomarkers,” said James Karis, Co-CEO of CollabRx. “We have ensured that our interpretive data and analytics are available to a wide audience of physicians and patients. At the same time, we have established a platform for significant growth and profitability. CollabRx now intends to make the most of its early position as a leader and innovator in a market that is poised for explosive growth.”

About CollabRx

CollabRx, Inc. (NASDAQ: CLRX) is a recognized leader in cloud-based expert systems to inform health care decision-making. CollabRx uses information technology to aggregate and contextualize the world’s knowledge on genomics-based medicine with specific insights from the nation’s top cancer experts starting with the area of greatest need: advanced cancers in patients who have effectively exhausted the standard of care. More information may be obtained at http://www.collabrx.com.

CollabRx Safe Harbor Statement

This press release includes forward-looking statements about CollabRx’s anticipated results that involve risks and uncertainties. Some of the information contained in this press release, including, but not limited to, statements as to industry trends and CollabRx’s plans, objectives, expectations and strategy for its business, contains forward-looking statements that are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Any statements that are not statements of historical fact are forward-looking statements. When used, the words "believe," "plan," "intend," "anticipate," "target," "estimate," "expect" and the like, and/or future tense or conditional constructions ("will," "may," "could," "should," etc.), or similar expressions, identify certain of these forward-looking statements. Important factors which could cause actual results to differ materially from those in the forward-looking statements are detailed in filings made by CollabRx with the Securities and Exchange Commission. CollabRx undertakes no obligation to update or revise any such forward-looking statements to reflect subsequent events or circumstances.

 

COLLABRX, INC. AND SUBSIDIARIES

(formerly TEGAL CORPORATION)

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In thousands, except share data)

 
      Sept 30,     March 31,
2012 2012
ASSETS
Current assets:
Cash and cash equivalents $ 6,217 $ 7,820
Prepaid expenses and other current assets 113 56
Other assets of discontinued operations   11     418  
Total current assets 6,341 8,294
Property and equipment, net 109 56
Intangible assets, net 1,630 -
Goodwill 603 -
Investment in convertible promissory note   329     312  
Total assets $ 9,012   $ 8,662  
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 3 $ 1
Promissory note 500 -
Common stock warrant liability 16 19
Accrued expenses and other current liabilities 313 316
Liabilities of discontinued operations   155     246  
Total current liabilities 987 582
Deferred tax liability   664     -  
Total liabilities   1,651     582  
 
Stockholders’ equity:
Preferred stock, $0.01 par value; 5,000,000 shares authorized; none issued and outstanding - -
Common stock, $0.01 par value; 50,000,000 shares authorized; 1,925,240 and 1,688,807 shares issued and outstanding at Sept. 30, 2012 and March 31, 2012, respectively 19 17
Additional paid-in capital 130,294 129,052
Accumulated other comprehensive loss (142 ) (142 )
Accumulated deficit   (122,810 )   (120,847 )
Total stockholders’ equity   7,361     8,080  
Total liabilities and stockholders’ equity $ 9,012   $ 8,662  
 
 

COLLABRX, INC. AND SUBSIDIARIES

(formerly TEGAL CORPORATION)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

and OTHER COMPREHENSIVE INCOME

(Unaudited)

(In thousands, except share data)

 
      Three Months Ended     Six Months Ended
September 30, September 30,
2012     2011 2012     2011
 
Revenue $ 75 $ 19 $ 100 $ 38
Cost of revenue   20     --     20     --  
Gross profit   55     19     80     38  
Operating expenses:
Engineering 328 -- 328 --
Sales and marketing expenses 49 -- 49 --
General and administrative expenses   970     568     1,682     1,441  
Total operating expenses   1,347     568     2,059     1,441  
Operating loss (1,292 ) (549 ) (1,979 ) (1,403 )
Equity in (loss) of unconsolidated affiliate -- (170 ) -- (320 )
Other income (expense), net   11     2     20     14  
Loss before income tax expense (benefit) (1,281 ) (717 ) (1,959 ) (1,709 )
Income tax expense (benefit)   --     --     --     --  
Loss from continuing operations (1,281 ) (717 ) (1,959 ) (1,709 )
(Loss) income from discontinued operations, net of taxes   (3 )   241     (4 )   239  
Net loss and comprehensive loss $ (1,284 ) $ (476 ) $ (1,963 ) $ (1,470 )
 
Net loss per share:
Basic and diluted $ (0.68 ) $ (0.28 ) $ (1.13 ) $ (0.87 )
 
Weighted-average shares used in per share computation:
Basic and diluted 1,884 1,689 1,738 1,689
 

The weighted average number of shares and the net (loss) income per share reflect a 1-for-5 reverse split effected by the Company on June 15, 2011

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
"We view the cloud not as a specific technology but as a way of doing business and that way of doing business is transforming the way software, infrastructure and services are being delivered to business," explained Matthew Rosen, CEO and Director at Fusion, in this SYS-CON.tv interview at 18th Cloud Expo (http://www.CloudComputingExpo.com), held June 7-9 at the Javits Center in New York City, NY.
The Founder of NostaLab and a member of the Google Health Advisory Board, John is a unique combination of strategic thinker, marketer and entrepreneur. His career was built on the "science of advertising" combining strategy, creativity and marketing for industry-leading results. Combined with his ability to communicate complicated scientific concepts in a way that consumers and scientists alike can appreciate, John is a sought-after speaker for conferences on the forefront of healthcare science,...
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, introduced two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a multip...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
In his session at Cloud Expo, Alan Winters, U.S. Head of Business Development at MobiDev, presented a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to maximize project result...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
IoT is rapidly becoming mainstream as more and more investments are made into the platforms and technology. As this movement continues to expand and gain momentum it creates a massive wall of noise that can be difficult to sift through. Unfortunately, this inevitably makes IoT less approachable for people to get started with and can hamper efforts to integrate this key technology into your own portfolio. There are so many connected products already in place today with many hundreds more on the h...
DXWorldEXPO LLC announced today that ICC-USA, a computer systems integrator and server manufacturing company focused on developing products and product appliances, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City. ICC is a computer systems integrator and server manufacturing company focused on developing products and product appliances to meet a wide range of ...
JETRO showcased Japan Digital Transformation Pavilion at SYS-CON's 21st International Cloud Expo® at the Santa Clara Convention Center in Santa Clara, CA. The Japan External Trade Organization (JETRO) is a non-profit organization that provides business support services to companies expanding to Japan. With the support of JETRO's dedicated staff, clients can incorporate their business; receive visa, immigration, and HR support; find dedicated office space; identify local government subsidies; get...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Archi...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abilit...
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
Digital Transformation is much more than a buzzword. The radical shift to digital mechanisms for almost every process is evident across all industries and verticals. This is often especially true in financial services, where the legacy environment is many times unable to keep up with the rapidly shifting demands of the consumer. The constant pressure to provide complete, omnichannel delivery of customer-facing solutions to meet both regulatory and customer demands is putting enormous pressure on...
The best way to leverage your CloudEXPO | DXWorldEXPO presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering CloudEXPO | DXWorldEXPO will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at CloudEXPO. Product announcements during our show provide your company with the most reach through our targeted audienc...
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world.
DXWorldEXPO LLC announced today that the upcoming DXWorldEXPO | CloudEXPO New York event will feature 10 companies from Poland to participate at the "Poland Digital Transformation Pavilion" on November 12-13, 2018.