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Nupathe Inc. (PATH) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Nupathe Inc.

CIK: 1375200

Exhibit 99.1

 

NuPathe Announces Fourth Quarter and Full Year 2012 Financial Results and Operational Highlights

 

CONSHOHOCKEN, PA — March 26, 2013 — NuPathe Inc. (NASDAQ: PATH) today announced financial results for the quarter and full year ended December 31, 2012, as well as recent operational highlights.

 

“Our efforts in 2012 culminated in a major milestone for NuPathe with FDA’s approval of ZECUITY, the first and only prescription migraine patch, in January,” said Armando Anido, chief executive officer of NuPathe. “We remain focused on securing commercial partners and preparing for the launch of ZECUITY, which is expected in the fourth quarter of this year.”

 

Quarterly and Recent Highlights

 

·                  On January 17, 2013, the U.S. Food & Drug Administration (FDA) approved ZECUITY™ (sumatriptan iontophoretic transdermal system) for the acute treatment of migraine with or without aura in adults.  ZECUITY is a single-use, battery-powered patch that actively delivers sumatriptan, the most prescribed migraine medication, through the skin. As the first and only prescription migraine patch, we believe ZECUITY will be an attractive treatment option for millions of migraine patients, especially those who experience migraine-related nausea (MRN) with their attacks.

 

·                  In connection with the approval of ZECUITY, four of NuPathe’s patents were listed in the FDA’s Orange Book.  Based on these patents, NuPathe expects product exclusivity for ZECUITY through April 21, 2029.

 

·                  In November, NuPathe entered into an $8.5 million term loan with Hercules Technology Growth Capital.  Approximately $8.0 million of the loan proceeds were used to pay off the company’s previous term loan facility and the remainder is available for general working capital purposes.

 

·                  In October, NuPathe completed the sale of $28 million of securities resulting in approximately $26.3 million of net proceeds. The securities were sold as units, each consisting of a fractional share of newly designated Series A preferred stock and a warrant to purchase one share of the Company’s common stock. The purchase price per unit was $2.00.  All shares of the Series A Preferred Stock have converted into shares of common stock, and as of March 26, 2013, there were 29,071,164 common shares outstanding.

 

Fourth Quarter and Full Year 2012 Financial Results

 

NuPathe reported a net loss applicable to common shareholders of $19.1 million for the fourth quarter of 2012, compared with a net loss applicable to common shareholders of $5.6 million for the fourth quarter of 2011. For the full year 2012, NuPathe reported a net loss of $37.8 million, compared with a net loss of $23.2 million for the full year 2011.  Both the fourth quarter and full year 2012 periods include a $13.25 million non-cash charge for a

 


The following information was filed by Nupathe Inc. on Tuesday, March 26, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Balance Sheets
Balance Sheets (parenthetical)
Statements Of Cash Flows
Statements Of Operations
Statements Of Redeemable Convertible Preferred Stock And Stockholders' Equity (deficit)
Statements Of Redeemable Convertible Preferred Stock And Stockholders' Equity (deficit) (parenthetical)
401(k) Profit Sharing Plan
401(k) Profit Sharing Plan (details)
Accrued Expenses
Accrued Expenses (details)
Accrued Expenses (tables)
Background
Capital Structure And Equity Financings
Capital Structure And Equity Financings (details 2)
Capital Structure And Equity Financings (details 3)
Capital Structure And Equity Financings (details 4)
Capital Structure And Equity Financings (details 5)
Capital Structure And Equity Financings (details)
Capital Structure And Equity Financings (tables)
Commitments
Commitments (details)
Commitments (tables)
Debt
Debt (details 2)
Debt (details)
Debt (tables)
Development-stage Risks And Liquidity
Development-stage Risks And Liquidity (details)
Income Taxes
Income Taxes (details 2)
Income Taxes (details)
Income Taxes (tables)
Property And Equipment
Property And Equipment (details)
Property And Equipment (tables)
Quarterly Financial Information (unaudited)
Quarterly Financial Information (unaudited) (details)
Quarterly Financial Information (unaudited) (tables)
Stock-based Compensation
Stock-based Compensation (details 2)
Stock-based Compensation (details 3)
Stock-based Compensation (details 4)
Stock-based Compensation (details)
Stock-based Compensation (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details 2)
Summary Of Significant Accounting Policies (details 3)
Summary Of Significant Accounting Policies (details 4)
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
CIK: 1375200
Form Type: 10-K Annual Report
Accession Number: 0001047469-13-003503
Submitted to the SEC: Wed Mar 27 2013 5:15:20 PM EST
Accepted by the SEC: Wed Mar 27 2013
Period: Monday, December 31, 2012
Industry: Pharmaceutical Preparations

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