EXTON, Pa., Oct. 30 /PRNewswire-FirstCall/ -- ViroPharma Incorporated (Nasdaq: VPHM) reported today its financial results for the third quarter and nine-months ended September 30, 2007.
Key events since June 30, 2007 include:
Clinical:
-- Patient enrollment began in a Phase 3 study of Camvia(TM) (maribavir)
in liver transplant patients;
-- Patient enrollment continued to the plan in Phase 3 study of Camvia in
stem cell transplant patients; study enrollment expanded to European
sites;
-- Dosing with HCV-796 was discontinued in an ongoing Phase 2 combination
study in hepatitis C patients following discovery of elevated liver
enzyme levels in a subset of patients; trial participants continue to
receive pegylated interferon and ribavirin in this study; and
-- New data presented at the 2007 Interscience Conference on Antimicrobial
Agents and Chemotherapy (ICAAC) meeting by Genzyme Corporation show
Vancocin(R) is superior in clinical success to metronidazole and
Genzyme's experimental compound in patients with severe CDAD (Louie et
al., 2007).
Operational:
-- Net sales of Vancocin(R) were $51 million;
-- Launched new sales and marketing initiatives for Vancocin; and
-- Research and development expenses increased by 40 percent over the
third quarter of 2006, primarily driven by investments in Camvia.
Financial:
-- Operating income was $27.9 million;
-- Working capital increased by $31 million to $573 million;
-- Cash, cash equivalents and short-term investments grew to $552 million;
and
-- 11th consecutive quarter of cash fl
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