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Previous: PUTNAM CAPITAL MANAGER TRUST SEPARATE ACCOUNT TWO, 497, 1997-01-21 |
Next: PREMIER INSURED MUNICIPAL BOND FUND, 497, 1997-01-21 |
<PAGE> 1
===========================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
======================
FORM 10-Q/A
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
FOR THE QUARTERLY PERIOD ENDED MARCH 31, 1996
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
FOR THE TRANSITION PERIOD FROM TO
-------- ---------
COMMISSION FILE NUMBER 0-26034
ORAVAX, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 04-3085209
(State or other jurisdiction (I.R.S. Employer
of incorporation of organization) Identification Number)
38 SIDNEY STREET, CAMBRIDGE, MASSACHUSETTS 02139
(Address of principal executive offices) (Zip Code)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (617) 494-1339
FORMER NAME, FORMER ADDRESS AND FORMER FISCAL YEAR, IF CHANGED SINCE LAST
REPORT: NOT APPLICABLE
INDICATE BY CHECK MARK WHETHER THE REGISTRANT (1) HAS FILED ALL REPORTS
REQUIRED TO BE FILED BY SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934 DURING THE PRECEDING 12 MONTHS (OR FOR SUCH SHORTER PERIOD THAT THE
REGISTRANT WAS REQUIRED TO FILE SUCH REPORTS), AND (2) HAS BEEN SUBJECT TO SUCH
FILING REQUIREMENTS FOR THE PAST 90 DAYS.
YES X NO
--- ---
<TABLE>
NUMBER OF SHARES OUTSTANDING OF EACH OF THE ISSUERS CLASS OF COMMON STOCK, AS OF
LATEST PRACTICABLE DATE.
<CAPTION>
CLASS OUTSTANDING AS OF APRIL 15, 1996
----- ----------------------------------
<S> <C>
COMMON STOCK, $.001 PAR VALUE 7,643,306
</TABLE>
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<PAGE> 2
ORAVAX, INC.
<TABLE>
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
IN THOUSANDS
------------
<CAPTION>
THREE MONTHS ENDED MARCH 31,
1996 1995
------- -------
<S> <C> <C>
Cash flows from operating activities:
Net loss from operations $(5,275) $ (614)
Adjustments to reconcile net loss from operations to net
cash used in operating activities:
Depreciation and amortization 501 164
Equity in operations of joint venture 1,086 -
Interest paid in preferred stock - -
Non-cash compensation 18 261
Changes in operating assets and liabilities:
Prepaid expenses and other current assets (86) (54)
Other assets (342) (30)
Accounts payable and accrued expenses 1,160 576
Deferred revenue - related party (574) -
------- -------
Net cash provided by (used in) operating activities (3,512) 303
------- -------
Cash flows from investing activities:
Purchases of short-term investments (2,984) -
Sales and maturities of short-term investments 7,919
Expenditures for property and equipment (230) (47)
Proceeds from sale-leaseback of property and equipment 216 116
Investment in joint venture (674) -
------- -------
Net cash provided by investing activities 4,247 69
------- -------
Cash flows from financing activities:
Proceeds from stock issuances, net 97 9,236
Principal payments under capital lease obligations (372) (112)
Principal payments of installment debt (613) -
------- -------
Net cash provided by financing activities (888) 9,124
------- -------
Net increase (decrease) in cash and cash equivalents (153) 9,496
Cash and cash equivalents at beginning of period 11,882 3,706
------- -------
Cash and cash equivalents at end of period $11,729 $13,202
======= =======
</TABLE>
The accompanying notes are an integral part of the condensed consolidated
financial statements.
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