Angiotech Pharmaceuticals, Inc. announces financial results for the fourth quarter ended Decembe...(and diluted net loss per common shar...)

Date:3/5/2009

and diluted net loss per common share from continuing operations $ (0.29) $ (0.20) ------------------------------------------------------------------------- ------------------------------------------------------------------------- Weighted average shares outstanding (000's) - basic and diluted 85,030 85,030 ------------------------------------------------------------------------- a. Amounts accrued for costs incurred, and potential future costs, related to our offer to accept returns of Contour Threads brand product as part of consolidation and discontinuation of the Contour Threads brand name, coincident with the launch of our Quill SRS brand name. b. Non-recurring, non-operating license revenue. c. Change in estimate of accounting for excess and obsolete inventory resulting from the alignment during the fourth quarter of 2007 of inventory policies across our various manufacturing operations. d. Research and development adjustments: --------------------------------------------------------------------- Three months Three months ended ended Dec 31, 2008 Dec. 31, 2007 ------------- -------------- Stock-based compensation $ (125) $ (150) Termination and reorganization costs (338) - Non-recurring research and development expenses and intellectual property license agreement (313) - ---------------------------------------------------------------------
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