Navigation Links
Medarex Reviews Recent Highlights and Outlook for 2009
Date:1/13/2009

PRINCETON, N.J., Jan. 13 /PRNewswire-FirstCall/ -- Medarex, Inc. (Nasdaq: MEDX) today provided an overview of the company's strong science-base and strategy for maximizing the value of its product portfolio. Also provided were recent highlights of Medarex's record of achievements in 2008, as well as its expected outlook for product pipeline milestones in 2009, underscoring Medarex's dedication to creating multiple opportunities for long-term value through the development of commercially attractive product candidates for cancer, inflammation and infectious diseases. In addition, updated full-year 2008 financial guidance was presented by Medarex's Chairman and CEO, Howard H. Pien.

Financial Guidance Update

Medarex is committed to the consistent management of resources and increased efficiencies that steadily support its research and development efforts across the organization. For the full year of 2008, Medarex currently expects a cash burn rate per month of approximately $12.2 million, a decrease from previous guidance for a monthly 2008 cash burn rate of approximately $12.4 million. This guidance includes Medarex's continual investment in its pipeline and the net contributions to the ipilimumab program. Medarex expects its monthly cash burn rate per month for the full year of 2009 to remain largely consistent with full-year 2008 net cash burn.

Medarex plans to disclose its 2008 full-year financial results and financial guidance for 2009 the week of February 23, 2009. Factors that may cause variations in Medarex's projected earnings and financial performance and other risks and uncertainties are discussed in the section below entitled "Statement on Cautionary Factors" and in our filings with the U.S. Securities and Exchange Commission.

Webcast

The webcast of Medarex's presentation from the 27th Annual J.P. Morgan Healthcare Conference, scheduled for Tuesday, January 13 at 8:30 a.m. Pacific Time (11:30 a.m. Eastern Time), can be accessed through the Investor Relations section on Medarex's website at www.medarex.com. The webcast will be archived and available for replay for at least 14 days following the event.

About Medarex

Medarex is a biopharmaceutical company focused on the discovery, development and potential commercialization of fully human antibody-based therapeutics to treat life-threatening and debilitating diseases, including cancer, inflammation, autoimmune disorders and infectious diseases. Medarex applies its UltiMAb(R) technology and product development and clinical manufacturing experience to generate, support and potentially commercialize a broad range of fully human antibody product candidates for itself and its partners. Over forty of these therapeutic product candidates derived from Medarex technology are in human clinical testing or have had INDs submitted for such trials, with the most advanced product candidates currently in Phase 3 clinical trials, the subject of regulatory applications for marketing authorization or approved in Canada. Medarex is committed to building value by developing a diverse pipeline of antibody products to address the world's unmet healthcare needs. For more information about Medarex, visit its website at www.medarex.com.

Statement on Cautionary Factors

Except for the historical information presented herein, matters discussed herein may constitute forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, such as statements preceded by, followed by or including the words "believe"; "expect"; "may"; "anticipate"; "projected"; "estimated"; "preliminary"; "suggest"; or "potential"; or similar statements are forward-looking statements. Medarex disclaims, however, any intent or obligation to update these forward-looking statements. Risks and uncertainties include risks associated with the development of ipilimumab and other product candidates, uncertainties related to the outcome of clinical trials, slower than expected rates of patient recruitment, unforeseen safety issues resulting from the administration of antibody products in patients, uncertainties related to product manufacturing, risks associated with the enforceability of our patents, as well as risks detailed from time to time in Medarex's public disclosure filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2007 and its quarterly reports on Form 10-Q. There can be no assurance that such development efforts will succeed or that developed products will receive required regulatory clearance or that, even if such regulatory clearance were received, such products would ultimately achieve commercial success. Copies of Medarex's public disclosure filings are available from its investor relations department.

Medarex(R), the Medarex logo and UltiMAb(R) are registered trademarks of Medarex, Inc. All rights are reserved.


'/>"/>
SOURCE Medarex, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Ono and Medarex Announce Allowance of Investigational New Drug Application for Fully Human Anti-PD1 Antibody
2. Medarex to Present at the JPMorgan Small/Mid Cap Conference
3. PharmAthene and Medarex Announce Additional $0.8 Million U.S. Government Appropriation for Continued Development of Anthrax Therapeutic Valortim(TM)
4. Medarex to Receive Milestone Payment for Submission of Regulatory Applications Requesting Approval of Ustekinumab (CNTO 1275) for Treatment of Psoriasis
5. Medarex to Present at the Merrill Lynch Global Pharmaceutical, Biotechnology & Medical Device Conference
6. Medarex Announces 2007 Fourth Quarter and Year End Financial Results
7. Medarex and Bristol-Myers Squibb Joint Statement on Submission Status of Ipilimumab
8. Medarex Announces 2008 First Quarter Financial Results
9. Medarex Hosts June 2nd Webcast of Ipilimumab Data Presented at ASCO
10. Medarex to Receive Milestone Payment for Approval of STELARA(TM) (Ustekinumab) for the Treatment of Moderate to Severe Plaque Psoriasis
11. CCF Reviews Contents of SCHIP Reauthorization Bill Legislation Places SCHIP on Solid Path
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/9/2016)... ... December 09, 2016 , ... ... the Pennsylvania Cable Network (PCN) during the summer of 2016. The program was ... provided by the United States Department of Health and Human Services Administration. ...
(Date:12/8/2016)... (PRWEB) , ... December 08, 2016 , ... ... accreditation with distinction by the Undersea and Hyperbaric Medical Society (UHMS), the leading ... advanced care and patient safety. Only a few hospitals and facilities have earned ...
(Date:12/8/2016)... ... December 08, 2016 , ... Russ DiGilio , founder ... national #QuackGivesBack campaign which supported local breast cancer organizations during National Breast Cancer ... Gives Back initiative, and we’re very pleased with the participation in every ...
(Date:12/8/2016)... and JENNERSVILLE, Pa. (PRWEB) , ... December 08, ... ... that Penn Medicine Southern Chester County, a Property owned by an affiliate of ... million, 72,000 square foot Penn Medicine Southern Chester County ambulatory care center (ACC) ...
(Date:12/8/2016)... ... December 08, 2016 , ... CURE Media Group, the nation’s ... groups, has aligned with Upstage Lung Cancer in efforts to combat lung cancer, announced ... J. Hennessy, Jr said, “CURE Media Group is honored to team up with Upstage ...
Breaking Medicine News(10 mins):
(Date:12/8/2016)... Dignitana, a world leader in medical scalp-cooling ... creator of the award-winning, patented Boa® system, to produce ... DigniCap® scalp cooling system. DigniCap® was cleared by the ... is the first medical scalp cooling device to receive ... features a patented tight-fitting silicone cooling cap that is ...
(Date:12/8/2016)... 8, 2016 According to ... by Product (Actual Sugars, Sugar Alcohols, Artificial Sweeteners), ... Tonicity Agents), Formulation (Oral, Topical, Parenteral) - Global ... has witnessed healthy growth during the last decade, ... of 4.3% between 2016 and 2021 to reach ...
(Date:12/8/2016)... LOS ANGELES , Dec. 8, 2016 /PRNewswire/ ... and manufacturing of dissolution testing and diffusion testing ... has been acquired by Teledyne Instruments, Inc. ("Teledyne"). ... Hanson,s long-proven line of precision testing instruments, as ... while accelerating development of new products and services. ...
Breaking Medicine Technology: