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Angiotech announces results for the fourth quarter ended December 31, 2007
Date:2/14/2008

ct sales under GAAP were $43.9 million.

- Royalty revenue was $27.2 million, and included $25.4 million of

royalty revenue derived from sales by Boston Scientific Corporation

(BSC) of paclitaxel-eluting coronary stent systems. The average

blended royalty rates indicated during the quarter were 7.5 percent

for U.S. sales, and 5.7 percent for sales recorded in other

countries.

- Adjusted EBITDA (earnings before interest, taxes, depreciation and

amortization, adjusted to exclude certain non-cash and non-recurring

items) was $6.8 million. Excluding research and development expenses,

the significant majority of which are discretionary and relate

primarily to our Pharmaceutical Technologies segment, adjusted EBITDA

would be $20.2 million.

- GAAP net loss and net loss per share from continuing operations were

$16.8 million and $0.20, respectively.

- Adjusted net loss from continuing operations and adjusted net loss

per share from continuing operations (GAAP net loss as adjusted to

exclude certain non-cash and non-recurring items) were $7.5 million

and $0.09, respectively.

- As of December 31, 2007, cash and long-term investments were

$115.8 million and net debt was $465.8 million.

Fourth Quarter Business Highlights

- 5-FU Central Venous Catheter ("CVC"). In December 2007 we submitted a

510(k) application to the U.S. Food and Drug Administration (FDA) to

market and sell our 5-FU CVC. We expect the clinical data from our

recently completed 960 patient clinical trial, which evaluated the

clinical performance of our 5-FU CVC as compared to a market leading

anti-infective CVC, to be presented by the clinical investigators at

the ISICEM 28th International Symposium on Intensive Care and

Emergency Medici
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SOURCE Angiotech Pharmaceuticals, Inc.
Copyright©2008 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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