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Cadence Pharmaceuticals Reports First Quarter 2013 Financial Results

Pharmaceuticals, Inc.

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Phone: 415-946-1076   CADENCE PHARMACEUTICALS, INC.CONDENSED STATEMENTS OF OPERATIONS(unaudited)(in thousands, except per share amounts)Three Months EndedMarch 31,20132012Revenue:Product revenue, net

8,004Total revenues

23,6128,004Costs and expenses:Cost of product sales

8,1674,246Amortization of patent license

336336Research and development

1,3631,511Selling, general and administrative


50-Total costs and expenses

31,55129,624Loss from operations

(7,939)(21,620)Other income (expense), net

6,576(1,053)Net loss

(22,673)Basic and diluted net loss per share

(0.27)Shares used to compute basic anddiluted net loss per share

85,67285,519 CADENCE PHARMACEUTICALS, INC.CONDENSED BALANCE SHEETS(in thousands)March 31,December 31,20132012(unaudited)AssetsCurrent assets:Cash, cash equivalents and short-term investments 

2,072Restricted cash 

640640Accounts receivable, net 


6,0836,498Prepaid expenses and other current assets 

2,0411,154Total current assets

81,91276,516Property and equipment, net

1,9051,967Intangible assets, net

11,75412,090Other assets

907,106Total assets

97,679Liabilities and Stockholders' Equity Current liabilities:Accounts payable 

5,796Accrued liabilities 

12,53212,969Deferred revenue 

-2,234Current debt, less discount 

2,552-Total current liabilities

20,89220,999Other liabilities

23351Long-term debt, less discount

26,38828,818Total stockholders' equity

48,14847,811Total liabilities and stockholders' equity


SOURCE Cadence Pharmaceuticals, Inc.
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