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CV Therapeutics Reports 2007 Third Quarter Financial Results

s 1,407 - 6,774 -

Total costs and expenses 53,665 76,312 207,910 232,976

Loss from operations (33,902) (64,110) (147,489) (208,860)

Other income (expense), net:

Interest and other income, net 2,847 4,582 10,112 12,100

Interest expense (3,166) (3,166) (9,498) (9,501)

Total other income (expense), net (319) 1,416 614 2,599

Net loss $(34,221) $(62,694) $(146,875) $(206,261)

Basic and diluted net loss

per share $(0.58) $(1.23) $(2.48) $(4.36)

Shares used in computing basic

and diluted net loss per share 59,458 51,067 59,213 47,340

(1) Costs and expenses include non-recurring stock-based compensation expense related to the acceleration of stock options and the voluntary forfeiture of stock appreciation rights as follows:

Cost of sales $- $- $109 $-

Research and development - - 4,606 -

Selling, general and

administrative - - 8,471 -

Total non-recurring

stock-based compensation

charges $- $- $13,186 $-

Reconciliation of GAAP Items

to Non-GAAP Items (2):

Net loss, as reported $(34,221) $(62,694) $(146,875) $(206,261)


Non-recurring stock-based

compensation charges - - 13,186 -

Restructuring charges 1,407 - 6,774 -

Net loss, non-GAAP $(32,814) $(62,694) $(126,915) $(206,261)

Basic and diluted net loss

per share, as reported $(0.58) $(1.23) $(2.48) $(4.36)


SOURCE CV Therapeutics, Inc.
Copyright©2007 PR Newswire.
All rights reserved

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