KemPharm, Inc. (NASDAQ:KMPH) Files An 8-K Results of Operations and Financial Condition

KemPharm, Inc. (NASDAQ:KMPH) Files An 8-K Results of Operations and Financial Condition

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Item 2.02 below.

Item 2.02 Results of Operations and
Financial Condition
.

On May 22, 2017, KemPharm filed its Quarterly Report on Form 10-Q
for the quarter ended March 31, 2017, or the Form 10-Q. KemPharm
is furnishing this amendment on Form 8-K/A to the Form 8-K to
correct an error which affected the amount of the non-cash fair
value adjustment to the derivative and warrant liability for the
three months ended March 31, 2017. This correction is reflected
in the press releasefurnished as Exhibit 99.1 tothis Amendment
No. 1 toForm 8-K, or the press release, and as disclosed in the
investor presentation furnished as Exhibit 99.2 to this Amendment
No. 1 to Form 8-K, or the investor presentation. The error did
not affect total cash and security-related amounts, which
includes cash, cash equivalents, restricted cash, marketable
securities, trade date receivablesand long-term investments, as
of March 31, 2017. In addition, operating loss was unchanged.

The error required a correction of certain amounts reflected in
the body of the press release, including the statement in the
first bullet under the heading Financial Highlights which should
read Net loss of $1.11 per basic anddiluted share for the quarter
ended March 31, 2017 and the first paragraph under the heading Q1
2017 Financial Results which should read as follows:

KemPharms reported net loss of $16.3 million, or $1.11 per basic
and diluted share for Q1 2017, compared to net loss of $2.9
million, or $0.20 per basic and diluted share, for the same
period in 2016. The increase in net loss for Q1 2017 was
primarily attributable to aperiod-over-period change of $17.5
million in fair value adjustmentcaused bynon-cash expense of $7.2
million for the three months ended March 31, 2017compared
tonon-cash income of $10.3 million for the three months ended
March 31, 2016 related to changes in thederivative and warrant
liabilityforeach period.Also contributing to the increase in net
loss is an increase in loss from operations of $0.4 million and
an increase in net interest expense and other items of $0.2
million. These increases in costs werepartially offset by the
non-recurrence in 2017 of a non-cash loss on extinguishment of
debt of $4.7 million recognizedduring the three months ended
March 31, 2016 related to the payment of a term note. Loss from
operations for Q1 2017 was $7.4 million, compared to $7.0 million
for the same period in 2016. The increase in loss from operations
for Q1 2017 compared to the same quarter in 2016 was primarily
due to an increase in research and development costs of $0.9
million with increased activity on the development programs for
KP415, KP201/IR and KP511, offset by a decrease of $0.5 million
in general and administrative expenses.

The error also required a correction of certain amountsdisclosed
in the tablesat the end ofthe press release, including Fair value
adjustment, the corrected total of which is $(7.216 million),
Total other (expense) income, the corrected total of which is
$(8.946 million), Loss before income taxes, the corrected total
of which is $(16.326 million), Net Loss, the corrected total of
which is $(16.322 million), and Net Loss per share, basic and
diluted the corrected total of which is $(1.11) per share, in the
Unaudited Condensed Statement of Operations and Derivative and
warrant liability, the corrected total of which is $11.834
million, Total liabilities, the corrected total of which is
$109.570 million, Accumulated deficit, the corrected total of
which is $(137.662 million), and Total stockholders deficit, the
corrected total of which is $(33.929 million), in the Condensed
Balance Sheets.

The error also required a correction of certain amounts reflected
in the investor presentation, including, on slide 4, the
statement Net loss of $0.84 per basic and diluted share for the
quarter ended 3/31/2017 should read Net loss of $1.11 per basic
and diluted share for the quarter ended 3/31/2017 and, on slide
12, the statement Q1 net loss of $12.2M, or $0.84 per basic and
diluted share, vs. Q1 2016 net loss of $2.9M, or $0.20 basic and
diluted shares should read Q1 net loss of $16.3M, or $1.11 per
basic and diluted share, vs. Q1 2016 net loss of $2.9M, or $0.20
basic and diluted shares. In addition, also on slide 12, the
statement Net loss for Q1 2017 increased primarily due to
non-cash fair value adjustments to our derivative and warrant
liabilities, which shifted from non-cash income of $10.3 million
in Q1 2016 to a non-cash loss of $3.1 million in Q1 2017 should
read Net loss for Q1 2017 increased primarily due to non-cash
fair value adjustments to our derivative and warrant liabilities,
which shifted from non-cash income of $10.3 million in Q1 2016 to
a non-cash loss of $7.2 million in Q1 2017.

A copy of the corrected press release and investor presentation
is furnished as Exhibits 99.1 and 99.2, respectively, to this
Amendment No. 1 on Form 8-K/A.

KemPharm previously conducted a conference call to review its
financial results on May 10, 2017, at 4:30 p.m. Eastern Time.

The information contained in the press release and investor
presentation furnished as Exhibits 99.1 and 99.2, respectively,
shall not be deemed filed for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended, or the Exchange Act,
and is not incorporated by reference into any of KemPharms
filings under the Securities Act of 1933, as amended, or the
Exchange Act, whether made before or after the date hereof,
except as shall be expressly set forth by specific reference in
any such filing.

Item 9.01 Financial Statements and
Exhibits.

(d)

Exhibits

ExhibitNo.

Description

99.1

Press Release, originally dated May 10, 2017, as updated
May 23, 2017.

99.2 Investor presentation, originally dated May 10, 2017, as
updated May 23, 2017.


About KemPharm, Inc. (NASDAQ:KMPH)

KemPharm, Inc. is a clinical-stage specialty pharmaceutical company. The Company is engaged in the discovery and development of prodrugs. The Company uses its Ligand Activated Therapy (LAT) platform technology to create prodrugs. The Company’s product candidate, KP201/APAP, consists of KP201, its prodrug of hydrocodone, which is combined with acetaminophen (APAP). The Company is developing KP201/APAP as an immediate release (IR), a product candidate for the short-term, or no longer than 14 days for the management of acute pain. The Company has designed KP201/APAP with abuse-deterrent properties to address the epidemic of opioid abuse in the United States. The Company also focuses on developing the pipeline of additional prodrug product candidates that targets pain and attention deficit hyperactivity disorder (ADHD). The Company’s products include KP201/IR (APAP-free), KP511/ER, KP415, KP606/IR and KP746.

KemPharm, Inc. (NASDAQ:KMPH) Recent Trading Information

KemPharm, Inc. (NASDAQ:KMPH) closed its last trading session 00.00 at 4.05 with 12,164 shares trading hands.

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