CV Therapeutics Reports 2008 Second Quarter Financi... (427 $15315 $47472 $27304 ....)

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CV Therapeutics Reports 2008 Second Quarter Financial Results

Date:7/31/2008

427 $15,315 $47,472 $27,304

Royalties 3,956 - 3,956 -

License, collaboration

and other 22,237 10,093 23,003 13,354

Total revenues 51,620 25,408 74,431 40,658

Costs and expenses:

Cost of sales 4,351 2,392 7,734 3,949

Research and development 17,151 28,799 34,396 55,977

Selling, general and

administrative 35,342 46,504 67,792 88,952

Restructuring charges - 5,367 (7) 5,367

Total costs and expenses 56,844 83,062 109,915 154,245

Loss from operations (5,224) (57,654) (35,484) (113,587)

Other income (expense), net:

Interest and other income,

net 6,333 3,222 7,868 7,265

Interest expense (3,661) (3,166) (6,835) (6,332)

Total other income (expense),

net 2,672 56 1,033 933

Loss before income taxes (2,552) (57,598) (34,451) (112,654)

Income tax provision 1,742 - 1,742 -

Net loss $(4,294) $(57,598) $(36,193) $(112,654)

Basic and diluted net

loss per share $(0.07) $(0.97) $(0.60) $(1.91)

Shares used in computing

basic and diluted net

loss per share 60,856 59,223 60,706 59,089

Reconciliation of GAAP Items

to Non-GAAP Items:

Net loss, GAAP as reported $(4,294) $(57,598) $(36,193) $(112,654)

Adjustments:

Non-recurring stock-based

compensation charges - 13,186 - 13,186

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

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