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Cornerstone Therapeutics Reports Second Quarter and First Half 2009 Financial Results
Date:8/11/2009

product portfolio. In addition, we signed a definitive asset purchase agreement with Oscient Pharmaceuticals to acquire the commercial rights to the antibiotic Factive(R). We continued to advance the development of our product candidates and submitted a regulatory filing with the FDA for an extended-release antitussive product (CRTX 067) that, if approved, would compete directly in the large prescription antitussive market. As a result of our efforts since our October 2008 merger, we were added to the Russell 3000(R)( )Index in June, which will increase our visibility among investors."

As of June 30, 2009, the Company had $15.5 million in cash and cash equivalents, an increase of $6.2 million compared to December 31, 2008.

2009 Outlook

Cornerstone continues to expect net revenues in excess of $95 million for the full-year 2009. In addition, the Company continues to anticipate achieving income from operations in excess of $17 million. As a reminder, during the first quarter, Cornerstone enjoyed limited competition within the market for its HyoMAX products, but the Company now faces market competition across a number of HyoMAX product lines. Also, to reiterate, Cornerstone's guidance assumes an increase of approximately $4.5 million in clinical development spend over 2008 and does not include any impact from the Chiesi transaction or the Curosurf product. The Company expects to provide an updated outlook that includes the Chiesi transaction and the Curosurf product with its third quarter earnings announcement.

Conference Call Information

Cornerstone Therapeutics will host a conference call today at 8:30 AM ET to discuss its financial results for the three and six months ended June 30, 2009 and to provide an update on its strategy, operations and product development pipeline. To participate in the live conference call, please dial 866-510-0710 (U.S. cal
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SOURCE Cornerstone Therapeutics Inc.
Copyright©2009 PR Newswire.
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