|By Business Wire||
|November 14, 2012 07:02 AM EST||
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.
- 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.”
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
(In thousands, except share data)
|Sept 30,||March 31,|
|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||-|
|Investment in convertible promissory note||329||312|
|LIABILITIES AND STOCKHOLDERS’ EQUITY|
|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||-|
|Preferred stock, $0.01 par value; 5,000,000 shares authorized; none issued and outstanding||-||-|
|Common stock, $0.01 par value; 50,000,000 shares authorized; 1,925,240 and 1,688,807 shares issued and outstanding at Sept. 30, 2012 and March 31, 2012, respectively||19||17|
|Additional paid-in capital||130,294||129,052|
|Accumulated other comprehensive loss||(142||)||(142||)|
|Total stockholders’ equity||7,361||8,080|
|Total liabilities and stockholders’ equity||$||9,012||$||8,662|
COLLABRX, INC. AND SUBSIDIARIES
(formerly TEGAL CORPORATION)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
and OTHER COMPREHENSIVE INCOME
(In thousands, except share data)
|Three Months Ended||Six Months Ended|
|September 30,||September 30,|
|Cost of revenue||20||--||20||--|
|Sales and marketing expenses||49||--||49||--|
|General and administrative expenses||970||568||1,682||1,441|
|Total operating expenses||1,347||568||2,059||1,441|
|Equity in (loss) of unconsolidated affiliate||--||(170||)||--||(320||)|
|Other income (expense), net||11||2||20||14|
|Loss before income tax expense (benefit)||(1,281||)||(717||)||(1,959||)||(1,709||)|
|Income tax expense (benefit)||--||--||--||--|
|Loss from continuing operations||(1,281||)||(717||)||(1,959||)||(1,709||)|
|(Loss) income from discontinued operations, net of taxes||(3||)||241||(4||)||239|
|Net loss and comprehensive loss||$||(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
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
Feb. 6, 2016 07:15 PM EST
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry's single source for the cloud. Fusion's advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including clou...
Feb. 6, 2016 03:30 PM EST Reads: 704
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
Feb. 6, 2016 03:15 PM EST Reads: 324
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
Feb. 6, 2016 02:30 PM EST Reads: 351
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
Feb. 6, 2016 01:30 PM EST Reads: 341
SYS-CON Events announced today that VAI, a leading ERP software provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. VAI (Vormittag Associates, Inc.) is a leading independent mid-market ERP software developer renowned for its flexible solutions and ability to automate critical business functions for the distribution, manufacturing, specialty retail and service sectors. An IBM Premier Business Part...
Feb. 6, 2016 01:00 PM EST Reads: 536
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...
Feb. 6, 2016 11:00 AM EST Reads: 117
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
Feb. 6, 2016 11:00 AM EST
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...
Feb. 6, 2016 09:00 AM EST
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 ad...
Feb. 6, 2016 05:00 AM EST Reads: 328
Most people haven’t heard the word, “gamification,” even though they probably, and perhaps unwittingly, participate in it every day. Gamification is “the process of adding games or game-like elements to something (as a task) so as to encourage participation.” Further, gamification is about bringing game mechanics – rules, constructs, processes, and methods – into the real world in an effort to engage people. In his session at @ThingsExpo, Robert Endo, owner and engagement manager of Intrepid D...
Feb. 5, 2016 09:00 PM EST Reads: 772
Eighty percent of a data scientist’s time is spent gathering and cleaning up data, and 80% of all data is unstructured and almost never analyzed. Cognitive computing, in combination with Big Data, is changing the equation by creating data reservoirs and using natural language processing to enable analysis of unstructured data sources. This is impacting every aspect of the analytics profession from how data is mined (and by whom) to how it is delivered. This is not some futuristic vision: it's ha...
Feb. 2, 2016 02:00 PM EST Reads: 402
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Feb. 2, 2016 04:30 AM EST Reads: 838
Learn how IoT, cloud, social networks and last but not least, humans, can be integrated into a seamless integration of cooperative organisms both cybernetic and biological. This has been enabled by recent advances in IoT device capabilities, messaging frameworks, presence and collaboration services, where devices can share information and make independent and human assisted decisions based upon social status from other entities. In his session at @ThingsExpo, Michael Heydt, founder of Seamless...
Feb. 1, 2016 05:00 AM EST Reads: 922
The IoT's basic concept of collecting data from as many sources possible to drive better decision making, create process innovation and realize additional revenue has been in use at large enterprises with deep pockets for decades. So what has changed? In his session at @ThingsExpo, Prasanna Sivaramakrishnan, Solutions Architect at Red Hat, discussed the impact commodity hardware, ubiquitous connectivity, and innovations in open source software are having on the connected universe of people, thi...
Jan. 31, 2016 09:00 PM EST Reads: 717
WebRTC: together these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at WebRTC Summit, Cary Bran, VP of Innovation and New Ventures at Plantronics and PLT Labs, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it may enable, complement or entirely transform.
Jan. 31, 2016 07:15 PM EST Reads: 1,135
There are so many tools and techniques for data analytics that even for a data scientist the choices, possible systems, and even the types of data can be daunting. In his session at @ThingsExpo, Chris Harrold, Global CTO for Big Data Solutions for EMC Corporation, showed how to perform a simple, but meaningful analysis of social sentiment data using freely available tools that take only minutes to download and install. Participants received the download information, scripts, and complete end-t...
Jan. 31, 2016 10:00 AM EST Reads: 1,197
For manufacturers, the Internet of Things (IoT) represents a jumping-off point for innovation, jobs, and revenue creation. But to adequately seize the opportunity, manufacturers must design devices that are interconnected, can continually sense their environment and process huge amounts of data. As a first step, manufacturers must embrace a new product development ecosystem in order to support these products.
Jan. 31, 2016 10:00 AM EST Reads: 798
Manufacturing connected IoT versions of traditional products requires more than multiple deep technology skills. It also requires a shift in mindset, to realize that connected, sensor-enabled “things” act more like services than what we usually think of as products. In his session at @ThingsExpo, David Friedman, CEO and co-founder of Ayla Networks, discussed how when sensors start generating detailed real-world data about products and how they’re being used, smart manufacturers can use the dat...
Jan. 30, 2016 07:45 PM EST Reads: 772
When it comes to IoT in the enterprise, namely the commercial building and hospitality markets, a benefit not getting the attention it deserves is energy efficiency, and IoT’s direct impact on a cleaner, greener environment when installed in smart buildings. Until now clean technology was offered piecemeal and led with point solutions that require significant systems integration to orchestrate and deploy. There didn't exist a 'top down' approach that can manage and monitor the way a Smart Buildi...
Jan. 30, 2016 03:45 PM EST Reads: 1,258