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

standing (000's) - basic and diluted 85,114 85,114 --------------------------------- --------------------------------------- a. One time payment from Baxter Healthcare Corporation in lieu of future royalty payments on licensed technology and non-recurring, non- operating license revenue. b. Non-recurring manufacturing variances, primarily related to excess labour costs incurred and to certain inventory write-downs resulting from cancellations of orders by a significant customer of our surgical needles business. Adjustments for the 2008 period relate to non-recurring supply / distribution agreement termination costs. c. Research and development adjustments: --------------------------------------------------------------------- Six months Six months ended ended Jun 30, 2009 Jun 30, 2008 ---------------------------- Stock-based compensation $ (215) $ (500) Termination and reorganization costs - (1,307) Non-recurring research and development expenses and intellectual property license agreement related to our termination agreements with Lipose Corp. and Spartan Medical Products LLC. (937) (1,125) --------------------------------------------------------------------- $ (1,152) $ (2,932) ---------------------------- d. Selling, general and administrative adjustments: ---------------------------------------------------------------------
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SOURCE Angiotech Pharmaceuticals, Inc.
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