Navigation Links
CV Therapeutics Reports 2008 First Quarter Financial Results
Date:4/25/2008

expenses and lower general and administrative costs offset in part by higher personnel-related expenses.

The decrease in costs and expenses in the quarter ended March 31, 2008 compared to the same quarter in 2007 was primarily due to a reduction in personnel-related expenses related to the restructuring plan implemented in May 2007, lower research and development expenses resulting from lower clinical trial expenses related to the completion of the MERLIN TIMI-36 study of Ranexa and lower regadenoson research and development expenses, and lower Ranexa marketing and sales expenses. These decreases were partially offset by higher cost of sales due to higher net product sales of Ranexa.

At March 31, 2008, the Company had cash, cash equivalents, marketable securities and restricted cash of $151.0 million compared to $179.0 million at December 31, 2007. Our cash utilized for the quarter ended March 31, 2008 was $28.0 million. This compares to our cash utilized for the prior quarter of $20.5 million. The increase in cash utilization in the quarter end March 31, 2008 compared to the prior quarter was due primarily to the timing of certain compensation and payroll related tax payments.

In April 2008, we announced that TPG-Axon Capital agreed to pay CV Therapeutics up to $185.0 million in exchange for rights to 50 percent of our royalty on North American sales of Lexiscan(TM) (regadenoson) injection. We received $175.0 million on closing of the transaction in April 2008 and could receive a potential future milestone payment of $10.0 million. We also received a $12.0 million milestone payment from Astellas US LLC in connection with the FDA approval of Lexiscan(TM) in April 2008.

Company management will webcast a conference call on April 25, 2008 at 8:30 a.m. EDT, 5:30 a.m. PDT, on the Company's website. To access the live webcast, please log on to the Company's website at http://www.cvt.com and go to t
'/>"/>

SOURCE CV Therapeutics, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3 4 5

Related biology technology :

1. Vicus Therapeutics to Present at the 234th American Chemical Society National Meeting in Boston, MA
2. DJO Incorporateds Pending Merger With ReAble Therapeutics Clears U.S. Antitrust Review
3. PeriCor Therapeutics Announces Closing of Licensing Agreement for Acadesine with Schering-Plough Corporation
4. Systems Medicine (SM), a Subsidiary of Cell Therapeutics, Inc. (CTI), Announces Execution of CRADA with NCI/NIH to Develop Potential Cancer Treatments Targeting the Insulin Growth Factor (IGF) Pathway
5. Amsterdam Molecular Therapeutics to Release H1 2007 Results on August 29, 2007
6. Nektar Therapeutics Appoints Tim Harkness as Chief Financial Officer
7. ExonHit Therapeutics: Allergan and ExonHits First Collaboration Compound to Begin Human Clinical Trials
8. Cell Therapeutics, Inc. Takes Corrective Actions in Response to Nasdaq Determination
9. Amsterdam Molecular Therapeutics Reports Half Year Results 2007
10. Nektar Therapeutics Appoints Lutz Lingnau as New Board Member
11. Anesiva Grants Specific-Use License of Its Needle-Free Drug Delivery Technology to Particle Therapeutics for Diabetes Drug
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/1/2015)... Hutchison China MediTech Limited ... (publ) ("AstraZeneca"), Hutchison MediPharma Limited,s ("HMP") collaboration partner, ... clinical trial of HMP,s c-Met inhibitor savolitinib (AZD6094) ... cell lung cancer ("NSCLC"). AZD9291 is ... receptor (EGFR). Preliminary data on the activity of ...
(Date:5/31/2015)... June 1, 2015 Sobi, ... diseases, has selected Veeva Commercial Cloud to support ... medical. A complete solution, Veeva Commercial Cloud ... compliant content to provide a comprehensive view of ...      (Logo: http://photos.prnewswire.com/prnh/20120425/527164) , ...
(Date:5/31/2015)... , May 31, 2015 Halozyme ... company developing novel oncology and drug-delivery therapies, today ... clinical study of its investigational new drug PEGPH20 ... pancreatic cancer. The encouraging interim data ... Clinical Oncology annual meeting in an oral presentation ...
(Date:5/30/2015)... May 30, 2015 The Cholangiocarcinoma ... research for bile duct cancer, announced today the ... Fellowship Program. , The Foundation has ... throughout the country to raise awareness about cholangiocarcinoma ... support research that opens new pathways for diagnosis ...
Breaking Biology Technology:Savolitinib (AZD6094) Preliminary Phase Ib Clinical Data in Lung Cancer Presented at the 2015 ASCO Annual Meeting 2Savolitinib (AZD6094) Preliminary Phase Ib Clinical Data in Lung Cancer Presented at the 2015 ASCO Annual Meeting 3Sobi Establishes Global Commercial Operations in the Cloud with Best-in-Class Veeva Commercial Cloud 2Sobi Establishes Global Commercial Operations in the Cloud with Best-in-Class Veeva Commercial Cloud 3Halozyme Phase 2 Clinical Study Of Investigational Drug PEGPH20 Shows Doubling Of Progression-free Survival And Improvement Trend In Overall Survival In High HA Metastatic Pancreatic Cancer Patients 2Halozyme Phase 2 Clinical Study Of Investigational Drug PEGPH20 Shows Doubling Of Progression-free Survival And Improvement Trend In Overall Survival In High HA Metastatic Pancreatic Cancer Patients 3Halozyme Phase 2 Clinical Study Of Investigational Drug PEGPH20 Shows Doubling Of Progression-free Survival And Improvement Trend In Overall Survival In High HA Metastatic Pancreatic Cancer Patients 4Halozyme Phase 2 Clinical Study Of Investigational Drug PEGPH20 Shows Doubling Of Progression-free Survival And Improvement Trend In Overall Survival In High HA Metastatic Pancreatic Cancer Patients 5The Cholangiocarcinoma Foundation Awards $260,000 in Research Grants 2The Cholangiocarcinoma Foundation Awards $260,000 in Research Grants 3
... Biotechnology, Inc. (OTC: CSBR) ("Champions") announced today the ... Inc. in which Champions will conduct low passage ... an inhibitor of mutant B-Raf, and CEP-37440, a ... determine the activity or response in potential clinical ...
... Laboratory, Inc. (HDL, Inc.) and BG Medicine, Inc. (Nasdaq: ... Inc. will offer galectin-3 testing services based on the BG ... Test was recently cleared by the FDA as an aid ... Elevated galectin-3 levels are associated with an inherently progressive form ...
... The Ontario Institute for Cancer Research (OICR) ... accelerate commercialization of a potentially revolutionary high-throughput screening ... The technology, Smart Well Plate™, developed at the ... utilizes digital microfluidics (DMF), a technique that allows ...
Cached Biology Technology:Champions Announces Technology Collaboration Utilizing Champions' Tumorgraft™ Technology Platform for Oncology Drug Development 2Champions Announces Technology Collaboration Utilizing Champions' Tumorgraft™ Technology Platform for Oncology Drug Development 3Health Diagnostic Laboratory, Inc. (HDL, Inc.) Announces Availability of Galectin-3 Testing Service in Partnership With BG Medicine 2Health Diagnostic Laboratory, Inc. (HDL, Inc.) Announces Availability of Galectin-3 Testing Service in Partnership With BG Medicine 3Health Diagnostic Laboratory, Inc. (HDL, Inc.) Announces Availability of Galectin-3 Testing Service in Partnership With BG Medicine 4Ontario Institute for Cancer Research Announces Investment in Microfluidics Technology for the Discovery of Anti-Cancer Drugs 2Ontario Institute for Cancer Research Announces Investment in Microfluidics Technology for the Discovery of Anti-Cancer Drugs 3
(Date:4/17/2015)... 17, 2015 Increasing ... technological advancement to drive biometric systems market in ...   According to a recently released ... &  Opportunities, 2020 ", biometric systems market in ... growth at CAGR of over 22% through 2020. ...
(Date:4/14/2015)... -- NXT-ID, Inc. (NASDAQ: NXTD ) ("NXT-ID" or ... growing mobile commerce market, announces that its Wocket® smart ... Design Awards under the category  ,Product Design – Technology,. ... are part of a global multi-disciplinary awards program. The ... marketplace, industry and judging panel. Winners will be announced ...
(Date:4/13/2015)... CHICAGO , April 13, 2015  higi, a ... with ways to more fully engage with their communities ... its industry-leading, privacy protected and secure API.  ... API enables the most accessible, affordable, and convenient vehicle ... The API will ...
Breaking Biology News(10 mins):Saudi Arabia Biometric Systems Market to Grow at 22% Through 2020, Says TechSci Research 2Saudi Arabia Biometric Systems Market to Grow at 22% Through 2020, Says TechSci Research 3NXT-ID's Wocket Smart Wallet Nominated for 2015 New York Design Awards in 'Product Design- Technology' 2NXT-ID's Wocket Smart Wallet Nominated for 2015 New York Design Awards in 'Product Design- Technology' 3higi Launches Seamless Access to HIPAA-Compliant Health Outcomes and Activity Data 2higi Launches Seamless Access to HIPAA-Compliant Health Outcomes and Activity Data 3
... expressions of different types are detected in a crowd ... faces are a priority for visual processing ?particularly for ... of the Massachusetts Institute of Technology and Jason Mattingley ... the June 6th issue of Current Biology. , ...
... demonstrated that learning about the appearance of their parents ... parental traits, rather than traits that more exactly match ... help drive the evolution of exaggerated traits and strong ... and other animals. The findings are reported by Carel ...
... of Michigan Kellogg Eye Center have gained new insight into ... itself to a specific role. They have observed a small ... to play a particular role, but has not yet begun ... vantage point for understanding how a healthy visual system develops. ...
Cached Biology News:Zebra finch males prefer females with exaggerated maternal traits 2Study provides first look at the 'birth' of a retina cell 2Study provides first look at the 'birth' of a retina cell 3
Tracker Datamatrix TRxD reads any 1D and 2D barcodes within 0.5 seconds....
Complete cell culture media with cytokines...
... BioChain's monkey normal multiple tissue ... specific cellular localization of genes or ... tissues. Tissues are mounted on positively ... Blots are available in the identical ...
8 different frozen tissues are mounted on positively charged glass slides...
Biology Products: