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Transcept Pharmaceuticals Reports Second Quarter 2009 Financial Results
Date:8/14/2009

i>Purdue has paid Transcept a $25 million upfront license fee;
  • Transcept will continue to develop Intermezzo(R) at its expense until FDA approval is received;
  • Purdue will pay Transcept up to $30 million if Purdue elects to continue with the collaboration after review of an FDA approval for Intermezzo(R), after which time Transcept will transfer the Intermezzo(R) NDA to Purdue and Purdue will assume financial responsibility for maintaining the NDA and any further product development for the U.S. market;
  • Purdue is then obligated to launch and commercialize Intermezzo(R) in the United States at its expense and pay Transcept tiered double-digit base royalties on net sales of Intermezzo(R) in the United States ranging up to the mid-twenty-percent level;
  • Purdue is potentially obligated to pay Transcept up to an additional $90 million upon meeting certain intellectual property milestones and upon the achievement of certain net sales targets for Intermezzo(R) in the United States;
  • Transcept retained an option to co-promote Intermezzo(R) to psychiatrists in the United States starting as early as the first anniversary of commercial launch of Intermezzo(R) and would receive an additional double-digit royalty from Purdue on sales generated by psychiatrists in the United States;
  • Transcept granted Purdue and an associated company the right to negotiate for the commercialization of Intermezzo(R) in Mexico and Canada; and
  • Transcept retained rights to commercialize Intermezzo(R) in the rest of the world.
  • Second Quarter 2009 Financial Results

    Research and development expenses for the quarter ended June 30, 2009 were approximately $2.25 million, compared to approximately $2.78 million for the same period in 2008. The $0.53 million decrease is primarily
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    SOURCE Transcept Pharmaceuticals, Inc.
    Copyright©2009 PR Newswire.
    All rights reserved

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    4. Transcept Pharmaceuticals Announces Expected FDA Extension of Regulatory Review Period for Intermezzo(R)
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