Cadence Pharmaceuticals Reports Second Quarter 2007 Financi...(rimarily due to a $7.8 million increasei...)

Date:8/19/2007

rimarily due to a $7.8 million increase in research and development expenses related to the company's ongoing Phase III clinical trials of Omigard and IV acetaminophen. In addition, the increased operating expenses were due to pre-commercialization manufacturing development activities for IV acetaminophen, increased personnel related costs due to the planned hiring of staff to support the company's clinical and regulatory efforts, and a $1.0 million increase in general and administrative expenses due to increases in labor related costs, costs related to operating as a public company, insurance costs and depreciation expense.

For the six months ended June 30, 2007, operating expenses were $26.0 million, compared to $35.9 million for the six months ended June 30, 2006. The decrease in operating expenses was primarily related to a one-time initial license fee of $25.3 million incurred by Cadence during the first quarter of 2006 in connection with the acquisition of rights to IV acetaminophen. This decrease was partially offset by a $12.6 million increase in costs during the first six months of 2007 related to the company's ongoing Phase III clinical trials of Omigard and IV acetaminophen, pre-commercialization manufacturing development activities for IV acetaminophen, personnel related costs due to the planned hiring of staff to support the company's clinical and regulatory efforts, and a $2.3 million increase in general and administrative expenses due to increases in stock-based compensation, labor related costs, costs related to operating as a public company, depreciation expense and insurance costs.

Recent Highlights and Developments

-- On July 26, 2007, Cadence announced that the FDA agreed with the

company's plan to increase enrollment in the ongoing Phase III clinical

trial of Omigard from 1,250 to 1,850 patients in order to maintain the

statistical power of the study in light of a re-analysis of data from

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SOURCE Cadence Pharmaceuticals, Inc. Copyright©2007 PR Newswire.

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