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Angiotech Pharmaceuticals, Inc. announces financial results for the fourth quarter ended December 31, 2009
Date:3/3/2010

addition to, and not as a substitute for, or as superior to, financial measures prepared in accordance with GAAP. A reconciliation of the Company's non-GAAP adjusted financial measures to the corresponding GAAP financial measures, and an explanation of the Company's use of these non-GAAP adjusted financial measures and of the excluded items, are included in the appendix to this press release. - Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, adjusted to exclude certain non-cash and non-recurring items) was $6.9 million. - Adjusted revenue was $63.5 million. - Adjusted costs of goods sold was $28.4 million. - Adjusted research and development expenses were $5.6 million. - Adjusted selling, general and administrative expenses were $21.2 million. - Adjusted net loss and adjusted net loss per share for the quarter were $4.7 million and $0.06, respectively.

Fourth Quarter Highlights

Proprietary Medical Products. Our Proprietary Medical Products are marketed and sold by our two direct sales groups. We believe certain of these product lines contain technological advantages that have the potential for more substantial revenue growth potential as compared to our overall product portfolio. Our most significant commercial Proprietary Medical Products are our Quill(TM) SRS wound closure product line, Skater(TM) line of drainage catheters, Option(TM) Inferior Vena Cava Filter, HemoStream(TM) chronic d
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SOURCE Angiotech Pharmaceuticals, Inc.
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