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Cadence Pharmaceuticals Reports Second Quarter 2012 Financial Results
Date:8/2/2012

SAN DIEGO, Aug. 2, 2012 /PRNewswire/ -- Cadence Pharmaceuticals, Inc. (NASDAQ: CADX), a biopharmaceutical company focused on acquiring, in-licensing, developing and commercializing proprietary products principally for use in the hospital setting, today reported financial results for the second quarter and six months ended June 30, 2012.

Net product revenue in the second quarter was $11.1 million, an increase of $3.1 million, or 38%, from the first quarter of 2012. This increase marks the company's sixth consecutive quarter of net product revenue growth since launching OFIRMEV® (acetaminophen) injection in January 2011.

A summary of the recent highlights and events for the company include the following:

  • Net product revenue of $11.1 million for the second quarter of 2012 and $19.1 million for the six months ended June 30, 2012
  • A 40% increase in the customer base for OFIRMEV in the first half of 2012 to nearly 3,200 unique customers at June 30, 2012
  • A New Drug Submission for OFIRMEV submitted to Health Canada in July 2012
  •  

    "OFIRMEV demand continues to accelerate, and exceeded our expectations in the second quarter of this year. I'm very pleased with how our sales team is executing on our strategy. Our customer base is growing rapidly, as physicians continue to embrace OFIRMEV as the foundation of a multi-modal approach to managing acute pain," said Ted Schroeder, President and CEO of Cadence. "Since launch, we believe that between 1.2 million and 1.5 million patients in the United States have been treated with OFIRMEV."

    Financial Results
    For the three months ended June 30, 2012, Cadence reported net product revenue of $11.1 million, an increase of $9.4 million from the $1.7 million of net product revenue reported for the three months ended June 30, 2011. For the six months ended June 30, 20
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    SOURCE Cadence Pharmaceuticals, Inc.
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