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Cadence Pharmaceuticals Reports Fourth Quarter and Full Year 2007 Financial Results and Provides Corporate and Clinical Program Overview
Date:3/12/2008

SAN DIEGO, March 12 /PRNewswire-FirstCall/ -- Cadence Pharmaceuticals, Inc. (Nasdaq: CADX), a biopharmaceutical company focused on in-licensing, developing and commercializing proprietary product candidates principally for use in the hospital setting, today reported financial results for the quarter and year ended December 31, 2007, and provided corporate and clinical program overviews for the year ended 2007 and for 2008 to date.

"During 2007, we continued to advance the Phase III clinical programs for our two product candidates, Acetavance(TM), an intravenous formulation of acetaminophen for the treatment of pain and fever, and Omigard(TM), a topical antimicrobial gel for the prevention of catheter-related infections", stated Ted Schroeder, President and CEO of Cadence Pharmaceuticals. "In addition, we achieved important corporate objectives of strengthening our management team and, in February 2008, raising gross proceeds of approximately $49.3 million in a registered direct equity offering. We believe we now have sufficient resources and capital to advance our two product candidates through to NDA submissions, currently anticipated in the first half of 2009."

Financial Results

For the fourth quarter ended December 31, 2007, Cadence reported a net loss of $14.2 million, or $0.50 per share, compared to a net loss of $9.0 million, or $0.53 per share, for the same period in 2006. For the year ended December 31, 2007, Cadence reported a net loss of $51.7 million, or $1.81 per share, as compared to a net loss of $52.2 million, or $10.07 per share, for the same period in 2006. The results for the year ended December 31, 2007, included approximately $4.3 million in stock-based compensation expense.

As of December 3
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SOURCE Cadence Pharmaceuticals, Inc.
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