Financial Outlook for 2008
Cadence currently anticipates that total operating expenses for full
year 2008 will be between $54 million and $59 million including an
estimated $4 to $6 million in non-cash stock-based compensation expenses.
Cadence expects that cash, cash equivalents and investments held for sale
at December 31, 2008, will be between $41 million and $46 million.
Acetavance(TM) Clinical Program
-- In January 2008, Cadence announced topline results from two Phase III
clinical trials of Acetavance, Study 301 and Study 302. While Study
301, which evaluated Acetavance in the treatment of pain following
abdominal gynecologic surgery, successfully achieved several secondary
endpoints, including pain relief, global patient satisfaction and time
to administration of rescue medication, the study did not meet its
primary endpoint of demonstrating a statistically significant reduction
in patients' pain intensity levels over 48 hours compared to placebo.
Study 302, a Phase III clinical trial of Acetavance in fever,
successfully met its primary endpoint, demonstrating a statistically
significant reduction of fever over six hours compared to placebo. In
both studies, Acetavance demonstrated a favorable safety profile, which
was similar to placebo.
-- In January 2008, Cadence also initiated communications with the FDA to
obtain additional guidance regarding its clinical development program
for Acetavance. Cadence expects to receive such guidance from the FDA
in the second quarter of 2008. Based upon the outcome of these
|SOURCE Cadence Pharmaceuticals, Inc.|
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