SuperGen Reports 2007 Fourth Quarter and Annual Financi... ( Company Achieves 2007 Ne...)

SuperGen Reports 2007 Fourth Quarter and Annual Financial Results

Date:3/3/2008

Company Achieves 2007 Net Income of $13.1 Million

DUBLIN, Calif., March 3 /PRNewswire-FirstCall/ -- SuperGen Inc., (Nasdaq: SUPG), a pharmaceutical company dedicated to the discovery, rapid development and commercialization of therapies for solid tumors and hematological malignancies, today reported financial results for the fourth quarter and year ended December 31, 2007.

The Company reported net income for the 2007 fourth quarter of $5.1 million, or $0.09 per fully diluted share, compared with a net loss of $6.3 million, or $0.11 per fully diluted share, for the same prior year period. The Company reported net income for the year ended December 31, 2007 of $13.1 million, or $0.23 per fully diluted share, compared with a net loss of $16.5 million, or $0.31 per fully diluted share, for the same prior year period.

Highlights for 2007 include:

-- Dacogen royalty revenue was $22.3 million compared to $3.4 million for

2006.

-- A major contributor to net income during 2007 was the gain on

disposition of non-core assets including the sale of worldwide rights

for Nipent(R) (pentostatin for injection) and Surface Safe(R),

resulting in a reported gain on sale of products of $33.7 million.

-- The Company closed the year with unrestricted cash, cash equivalents,

and marketable securities totaling approximately $91 million.

"SuperGen has again achieved several significant milestones during 2007 including the start of Phase 1 and Phase 1b clinical trials of MP470, a novel, oral, multi-targeted tyrosine kinase inhibitor (TKI)," said Dr. James Manuso, President and Chief Executive Officer. "We entered 2008 with a strong financial position. Our lice
'/>"/>

0

GOOD

Page: 1 2 3 4 5 6 7 8 9 10 11 12
Related biology technology :

1. SuperGen to Announce 2007 Fourth Quarter and Fiscal Year-End Financial Results March 3, 2008
2. SuperGen to Present at Thomas Weisel Partners Healthcare Conference September 5th
3. Dr. Audrey F. Jakubowski of SuperGen Retires as Chief Regulatory and Quality Officer
4. Stereotaxis Reports Fourth Quarter and Full Year 2007 Financial Results
5. Genetic Engineering & Biotechnology News reports on advances in miRNA
6. Rosetta Genomics Reports Fourth-Quarter and Full-Year 2007 Financial Results
7. Warner Chilcott Reports Operating Results for the Quarter and Year ended December 31, 2007
8. Cepheid Reports Fourth Quarter and Full Year 2007 Results
9. Strategic Diagnostics Reports Fourth Quarter and Full-Year Financial Results
10. US Oncology Reports Fourth Quarter and Fiscal Year 2007 Results
11. Barr Reports GAAP Earnings of $1.18 Per Share for 2007 and $0.30 Per Share for the Fourth Quarter; Adjusted Earnings Were $3.16 Per Share for 2007 and $0.79 Per Share for the Fourth Quarter

Post Your Comments:

SuperGen Reports 2007 Fourth Quarter and Annual Financi...( Company Achieves 2007 Ne...)