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Angiotech Pharmaceuticals, Inc. announces financial results for the second quarter ended June 30, 2009
Date:8/6/2009

nancing fees and other non- recurring costs were $19.0 million. - GAAP net loss and net loss per share for the quarter were ($11.9) million and ($0.14), respectively. - Adjusted net loss and adjusted net loss per share for the quarter were ($1.8) million and ($0.02), respectively. - As of June 30, 2009, cash and short-term investments were $52.3 million and net debt was $522.7 million.

Second Quarter Highlights

Proprietary Medical Products. Certain of our product lines, which we refer to as our Proprietary Medical Products, are marketed and sold by our two direct sales groups. We believe certain of these product lines contain technology advantages that may provide for more substantial revenue growth potential as compared to our overall product portfolio. Our significant currently marketed Proprietary Medical Products include (i) our Quill(TM) SRS wound closure product line, which is marketed and sold by our Surgical Products Sales Group, and (ii) our HemoStream(TM) dialysis catheter, our Skater(TM) line of drainage catheters, our BioPince(TM) full core biopsy device, our EnSnare(TM) retrieval device and our V+Pad(TM) hemostatic pad which are marketed and sold by our Interventional Products Sales Group. Our Proprietary Medical Products continued to demonstrate higher revenue growth as compared to our overall product portfolio, consistent with recent prior quarters. Revenue growth for these products in the second quarter of 2009 was approximately 15% as compared to the second quarter of 2008 and 4% as compared to the first quarter of 2009. Excluding the impact of foreign currency changes between the respective periods, the revenue growth figures indicated above would have been 21% and 3%, respectively.

Base Medical Products. Certain of our product lines, which we refer to as our Base Medical Products, represent more mature finished goods product lines
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SOURCE Angiotech Pharmaceuticals, Inc.
Copyright©2009 PR Newswire.
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Related biology technology :

1. Angiotech announces additional diameters of sutures to further expand its Quill(TM) SRS PDO product line
2. Angiotech receives favourable patent decision from New Zealands Intellectual Property Office
3. Angiotech reaches agreement with Johnson & Johnson to settle outstanding patent litigation
4. Angiotech to participate in UBS Global Life Sciences Conference
5. Angiotech announces intent to file 510(k) for its innovative 5-FU Central Venous Catheter (CVC) based on positive results from pivotal trial
6. Angiotech Receives CE Mark Approval of Quill(TM) SRS MONODERM(TM), a New Rapidly Resorbing Suture Product Line
7. Angiotech announces preliminary third quarter financial results and updates fiscal 2007 outlook
8. Angiotech to participate in Bank of America 2007 Credit Conference
9. Angiotech to participate in RBC 2007 Healthcare Conference
10. Angiotech Submits 510(K) To FDA For Its Innovative 5-FU CVC
11. Athersys and Angiotech announce authorization of Phase I intramyocardial stem cell U.S. clinical trial in acute myocardial infarction
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