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

al from the FDA to market and sell the Taxus Express2 Atom(TM) Paclitaxel-Eluting Coronary Stent System in the United States. We are entitled to receive royalties based on the commercial sale of these products by BSC.

Enrollment Completed for TAXUS PERSEUS Clinical Trial. On October 8, 2008, we announced that BSC had completed enrollment in the PERSEUS clinical trial, designed to evaluate the third-generation TAXUS Element paclitaxel-eluting coronary stent. The PERSEUS clinical program has enrolled nearly 1,500 patients at 100 U.S. and international centers since July 2007, and will compare the TAXUS Element Stent to the prior-generation TAXUS Express2 Stent marketed in the United States since 2004.

    Financial Information
    ----------------------

This press release contains the condensed financial statements derived from the audited consolidated financial statements for the year ended December 31, 2008 and 2007. Full audited consolidated financial statements and Management's Discussion and Analysis for the year ended December 31, 2008, will be filed on Form 10-K on or before March 16, 2009.

Amounts, unless specified otherwise, are expressed in U.S. dollars. Financial results are reported under U.S. Generally Accepted Accounting Principals ("GAAP") unless otherwise noted. All per share amounts are stated on a diluted basis unless otherwise noted.

    Use of Certain Non-GAAP Financial Measures
    -------------------------------------------

Certain financial results presented in this press release include non-GAAP measures that exclude certain items. Adjusted net loss from continuing operations, adjusted net loss per share from continuing operations and adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA") exclude certain non-cash and non-recurring items such as, goodwill and financing charges, write downs, acquisition related amortization cha
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SOURCE Angiotech Pharmaceuticals, Inc.
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