Cadence Pharmaceuticals Reports First Quarter 2009 Financi... (arter of 2008 there is a lack of ...)

Cadence Pharmaceuticals Reports First Quarter 2009 Financial Results

Date:5/7/2009

arter of 2008, there is a lack of comparability in the per share amounts between the 2009 and 2008 periods presented.


                          CADENCE PHARMACEUTICALS, INC.
                          (a development stage company)
                             CONDENSED BALANCE SHEETS

                                                     March 31,   December 31,
                                                       2009          2008
                                                   (unaudited)
                      Assets
    Current assets:
      Cash and cash equivalents
                                                  $118,549,004   $47,627,246
      Restricted cash                                1,847,848     2,195,696
      Prepaid expenses and other current assets        312,801       219,674
        Total current assets                       120,709,653    50,042,616

    Property and equipment, net                      4,376,590     4,477,020
    Restricted cash                                    537,586       537,586
    Other assets                                        57,673        90,792
        Total assets                              $125,681,502   $55,148,014

            Liabilities and Stockholders' Equity
    Current liabilities:
      Accounts payable                              $3,542,647    $4,877,854
      Accrued liabilities                            5,814,540     9,063,310
      Current portion of long-term debt              7,045,605     7,694,173
      Current current liabilities                       22,048        22,048
        Total current liabilities                   16,424,840    21,657,385

    Deferred rent                                      876,724       952,274
    Long-term debt, less current portion and
     discount                                        4,653,728     6,098,113
    Total stockholders' equity                     103,726,210    26,44
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SOURCE  Cadence Pharmaceuticals, Inc.
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Cadence Pharmaceuticals Reports First Quarter 2009 Financi...(arter of 2008 there is a lack of ...)