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CV Therapeutics Reports 2007 Third Quarter Financial Results
Date:11/6/2007

PALO ALTO, Calif., Nov. 6 /PRNewswire-FirstCall/ -- CV Therapeutics, Inc. (Nasdaq: CVTX) today reported financial results for the third quarter ended September 30, 2007.

For the quarter ended September 30, 2007, the Company reported a net loss of $34.2 million, or $0.58 per share. This compares to a net loss of $62.7 million, or $1.23 per share, for the same quarter in 2006 and $57.6 million, or $0.97 per share, for the prior quarter ended June 30, 2007.

For the quarter ended September 30, 2007, the Company recorded total revenues of $19.8 million which consisted of $18.4 million of net product sales of Ranexa(R) (ranolazine extended-release tablets) and $1.3 million of collaborative research revenue. The $18.4 million of net product sales of Ranexa in the quarter ended September 30, 2007 represents an increase of 20 percent compared to the $15.3 million of net product sales recorded in the prior quarter ended June 30, 2007 and an increase of 124 percent compared to the $8.2 million of net product sales in the same quarter of the prior year. Net product sales recognized in the quarter ended September 30, 2007 includes $1.1 million resulting from a reduction in our estimate of future product returns due to limited actual returns from customers since launch and other factors which impact our estimate of future returns. The third quarter 2007 collaborative research revenue includes revenue primarily related to the reimbursement of certain regadenoson development costs from our collaborative partner.

Total revenues for the nine months ended September 30, 2007 of $60.4 million consisted of $45.7 million of net product sales of Ranexa and $14.7 million of collaborative research revenue which includes a $7.
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SOURCE CV Therapeutics, Inc.
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