SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT: FEBRUARY 13, 2001
(Date of earliest event reported)
INCYTE GENOMICS, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-27488 94-3136539
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
3160 PORTER DRIVE, PALO ALTO, CALIFORNIA 94304
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (650) 855-0555
Item 5. Other Events.
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Attached hereto as Exhibit 99.1 and incorporated by reference herein is
financial information for Incyte Genomics, Inc. for the quarter and year ended
December 31, 2000.
Item 7. Financial Statements and Exhibits.
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(a) Exhibits.
99.1 Incyte Genomics, Inc. Financial Results for the Quarter and Year Ended
December 31, 2000.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: February 13, 2001.
INCYTE GENOMICS, INC.
By /s/ John M. Vuko
-------------------
John M. Vuko
Executive Vice President and
Chief Financial Officer
INDEX TO EXHIBITS
Exhibit Number Description
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99.1 . . . . . Incyte Genomics, Inc. Financial Results for the Quarter and
Year Ended December 31, 2000.
EXHIBIT 99.1
INCYTE GENOMICS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
(UNAUDITED)
THREE MONTHS ENDED TWELVE MONTHS ENDED
DECEMBER 31, DECEMBER 31,
2000 1999 2000 1999
--------- --------- --------- ---------
Revenue $55,416 $46,024 $194,167 $156,962
Costs and expenses:
Research and development 53,935 42,593 192,556 146,833
Selling, general and administrative 18,532 10,370 64,201 37,235
--------- -------- --------- ---------
Total costs & expenses 72,467 52,963 256,757 184,068
Income (loss) from operations (17,051) (6,939) (62,590) (27,106)
Interest income and
other income, net 9,484 986 41,735 5,485
Interest and other expense (2,735) (68) (10,529) (316)
Equity in earnings of joint venture -- (1,184) (1,283) (5,631)
Provision (benefit) from taxes 205 (800) 205 (800)
--------- --------- --------- ---------
Loss before extraordinary item (10,507) (6,405) (32,872) (26,768)
Extraordinary gain-
debt extinguishment 3,137 -- 3,137 --
--------- --------- --------- ---------
Net Loss $(7,370) $ (6,405) $(29,735) $(26,768)
========= ========= ========= =========
Basic and diluted
net loss per share $ (0.11) $ (0.11) $ (0.47) $ (0.48)
========= ========= ========= =========
Shares used in computation of:
Basic and diluted net loss per share 64,369 57,040 63,211 56,276
========= ========= ========= =========
Share and per share data have been adjusted to reflect the
stock split that occurred in 2000.
CONDENSED CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS)
DECEMBER 31, DECEMBER 31,
2000 1999
ASSETS
Cash and cash equivalents . . . . . . . . . $ 110,155 $ 32,220
Marketable securities - available-for-sale. 472,025 $ 34,717
Accounts receivable, net. . . . . . . . . . 35,022 26,608
Prepaid expenses and other current assets . 30,693 15,956
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Total current assets . . . . . . . . . . 647,895 109,501
Property and eqiupment, net . . . . . . . . 98,948 67,293
Long-term investments . . . . . . . . . . . 40,003 19,275
Goodwill and other intangible assets, net . 82,944 14,564
Deposits and other assets . . . . . . . . . 17,030 11,301
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Total assets . . . . . . . . . . . . . . $ 886,820 $ 221,934
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LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable. . . . . . . . . . . . . . $ 17,497 $ 6,501
Accrued compensation. . . . . . . . . . . . 13,023 6,731
Accrued and other current liabilities . . . 23,036 11,767
Deferred revenue. . . . . . . . . . . . . . 22,756 26,459
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Total current liabilities. . . . . . . . 76,312 51,458
Non-current liabilities . . . . . . . . . . -- 194
Convertible subordinated notes. . . . . . . 187,814 --
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Total liabilities . . . . . . . . . . . . . 264,126 51,652
Total stockholders' equity. . . . . . . . . 622,694 170,282
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Total liabilities and stockholders' equity. $ 886,820 $ 221,934
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