Ardea Biosciences, Inc. (RDEA) [Rocket]

In millions, except per share items	Dec-31-11	Dec-31-10	Dec-31-09	Dec-31-08	Dec-31-07	Dec-31-06	Dec-31-05	Dec-31-04
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
License fees	4.3	8.1	20.4
Reimbursable research and development costs	2.6	4.0	2.5
Other	0.4	15.4
Total revenues [+]	7.3	27.4	22.9	0.3	3.1	0.1	0.3	11.5
Licensing	4.3	8.1	20.4
Reimbursements	2.6	4.0	2.5
Revenue growth [+]	-73.4%	19.5%	7444.7%	-90.2%	4198.6%	-71.8%	-97.8%	49.1%
License fees	-46.8%	-60.4%
Reimbursable research and development costs	-34.2%	58.8%
Cost of goods sold	0.0	0.0	0.0	11.9	7.6	2.7	3.6	5.7
Gross profit	7.3	27.4	22.9	-11.6	-4.5	-2.6	-3.4	5.8
Gross margin	100.0%	100.0%	100.0%	-3821.4%	-144.5%	-3613.9%	-1322.7%	50.7%
Selling, general and administrative [+]	19.5	16.5	10.7	11.9	7.6	2.7	3.0	4.8
General and administrative	19.5	16.5	10.7	11.9	7.6	2.7	3.0	4.8
Research and development	74.4	52.1	42.2
Other operating expenses				32.9	15.5	-2.5	-3.1	17.4
EBITDA [+]	-85.9	-40.5	-29.3	-55.9	-27.3		-3.2
EBITDA growth	111.9%	38.5%	-47.7%	104.7%	895.1%	-14.9%
EBITDA margin	-1176.2%	-147.9%	-127.7%	-18401.3%	-882.9%	-3813.9%	-1265.1%
Depreciation and amortization	0.7	0.6	0.7	0.5	0.2		0.0
EBIT [+]	-86.7	-41.1	-30.0	-56.5	-27.6	-2.7	-3.2	-16.3
EBIT growth	110.6%	37.4%	-47.0%	104.8%	904.2%	-15.1%	-80.2%	20.9%
EBIT margin	-1186.3%	-150.1%	-130.6%	-18577.3%	-890.9%	-3813.9%	-1268.6%	-141.8%
Non-recurring items							0.6	0.9
Interest income, net [+]	0.1	-0.5	-0.9	1.3	2.1	2.4	1.5	0.7
Interest expense	0.3	0.9	1.3	0.2
Interest income	0.4	0.4	0.4	1.5	2.1	2.4	1.5	0.7
Other income (expense), net	0.0	0.0	0.0	0.2	0.4	0.0	-0.8	-0.2
Pre-tax income	-86.6	-41.6	-30.9	-55.0	-25.1	-0.4	-3.2	-16.7
Income taxes	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Tax rate	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Net income	-86.6	-41.6	-30.9	-55.1	-25.3	-0.6	-3.4	-17.0
Net margin	-1185.2%	-151.8%	-134.6%	-18110.2%	-817.8%	-843.1%	-1337.6%	-147.2%

Basic EPS [+]	($3.26)	($1.91)	($1.70)	($3.79)	($2.55)	($0.07)	($0.37)	($2.24)
Growth	71.0%	12.2%	-55.1%	48.6%	3814.6%	-82.6%	-83.4%	-44.1%
Diluted EPS [+]	($3.26)	($1.91)	($1.70)	($3.79)	($2.55)	($0.07)	($0.37)	($2.24)
Growth	71.0%	12.2%	-55.1%	48.6%	3814.6%	-82.6%	-83.4%	-44.1%

Shares outstanding (basic) [+]	26.5	21.8	18.2	14.5	9.9	9.3	9.1	7.6
Growth	21.6%	20.2%	24.8%	46.4%	6.5%	2.1%	20.8%	103.2%
Shares outstanding (diluted) [+]	26.5	21.8	18.2	14.5	9.9	9.3	9.1	7.6
Growth	21.6%	20.2%	24.8%	46.4%	6.5%	2.1%	20.8%	103.2%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.