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

with regadenoson and Ranexa.

For the nine months ended September 30, 2007, total costs and expenses were $207.9 million compared to total costs and expenses of $233.0 million for the same period in the prior year. The decrease for the nine months ended September 30, 2007 compared to the same period in the prior year was primarily due to lower research and development expenses resulting from lower clinical trial expenses related to the completion of the MERLIN TIMI-36 study of Ranexa and lower regadenoson research and development expense, lower sales and marketing expenses due to the end of the ACEON(R) co-promotion arrangement and lower Ranexa sales and marketing expenses. These decreases were partially offset by costs associated with the restructuring plan implemented in May 2007, which included severance benefits, stock-based compensation expense related to accelerated vesting of employee stock options and forfeiture of certain stock appreciation rights and costs related to excess leased office space and higher cost of sales due to higher net product sales of Ranexa.

At September 30, 2007, the Company had cash, cash equivalents, marketable securities and restricted cash of $199.5 million compared to $223.7 million at June 30, 2007. Our total cash utilized for the quarter ended September 30, 2007 was $24.2 million. This compares to our cash utilized for the prior quarter of $43.4 million which included $3.3 million in restructuring expenses paid in the quarter, offset by the benefit of the non-recurring collaboration milestone payment of $7.0 million from Astellas Pharma US, Inc. In the second quarter, excluding the impact of these non-recurring items, cash utilized was $47.1 million.

Company management will webcast a conference call on November 6, 2007 at 4:30 p.m. EST, 1:30 p.m. PST, on the Company's website. To access the live webcast, please log on to the Company's website at http://www.cvt.com a
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SOURCE CV Therapeutics, Inc.
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