Angiotech Pharmaceuticals, Inc. announces financial results for the fourth quarter ended Decembe...(rges acquired in-process research and de...)

Date:3/5/2009

rges, acquired in-process research and development relating to license agreements and acquisitions, stock-based compensation expense, foreign exchange gains or losses relating to translation of foreign denominated items and other non-recurring items. Adjusted net loss from continuing operations, adjusted net loss per share from continuing operations and Adjusted EBITDA also exclude litigation expenses related to defending intellectual property claims. Revenue, as adjusted, excludes non-recurring, non-operating revenue derived from license agreements and other license revenue, net of license fees due to licensors and excludes amounts accrued for costs incurred. Adjusted net loss from continuing operations, adjusted net loss per share from continuing operations, revenue, as adjusted, and Adjusted EBITDA do not have any standardized meaning prescribed by GAAP and therefore may not be comparable to similar measures presented by other issuers. Management uses these non-GAAP or adjusted operating measures to establish operational goals and believes that these measures may assist investors in evaluating the results of the business and analyzing the underlying trends in our business over time. Investors should consider these non-GAAP measures in addition to, not as a substitute for, or as superior to, financial reporting measures prepared in accordance with GAAP. We have provided a reconciliation of these measures to GAAP in the attached tables.

    Conference Call Information
    ----------------------------
    A conference call to discuss these financial results will be held today,
Thursday March 5, 2009 at 7:00 AM PT (10:00 AM ET).

    Dial-in information:
    North America (toll-free): (800) 291-9234
    International: (617) 614-3923
    Enter passcode: 52474180

    A replay archive of the conference call will be available until March 12,
2009 by calling (888) 286-8010 (in North America) or (617) 801-6888
(International) and entering 
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SOURCE  Angiotech Pharmaceuticals, Inc.
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