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Angiotech Pharmaceuticals, Inc. announces financial results for the fourth quarter ended December 31, 2008
Date:3/5/2009

--------------- ------------------------------------------------------------------------- Weighted average shares outstanding (000's) - basic and diluted 85,015 85,015 ------------------------------------------------------------------------- ------------------------------------------------------------------------- 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. Severances and reorganization costs. In 2007, change in estimate of accounting for excess and obsolete inventory resulting from the alignment during the second quarter of 2007 of inventory policies across our various manufacturing operations. d. Research and development adjustments: --------------------------------------------------------------------- Year-ended Year-ended Dec 31, 2008 Dec 31, 2007 ------------- ------------- Stock-based compensation (795) (1,665) License fees due to licensors related to non-recurring license revenue - (419) Termination and reorganization costs (3,302) (849) Non-recurring supply / distribution agreement termination costs (500) (899) Non-recurring research and development expenses and intellectual property license agreement. (938) (750)
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SOURCE Angiotech Pharmaceuticals, Inc.
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5. Angiotech Announces Extension of the Expiration Date of its Tender Offer for Senior Floating Rate Notes Due 2013 and 7.75% Senior Subordinated Notes Due 2014
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