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Cadence Pharmaceuticals Reports Fourth Quarter and Full Year 2010 Financial Results

#174; and OFIRMEV™ are trademarks of Cadence Pharmaceuticals, Inc.Contact:

William R. LaRue

Kelli KampanisSVP & Chief Financial Officer

Media RelationsCadence Pharmaceuticals, Inc.

WCGPhone: 858-436-1400

Phone:  310-625-3248CADENCE PHARMACEUTICALS, INC.(a development stage company)CONDENSED STATEMENTS OF OPERATIONS(unaudited)(in thousands except per share amounts)Three Months EndedTwelve Months EndedDecember 31,December 31,2010200920102009Operating expenses:Research and development

9,464Sales and marketing

11,5976,93926,45511,729General and administrative


31-1,813413Total operating expenses

18,18615,06154,91744,497Loss from operations

(18,186)(15,061)(54,917)(44,497)Other expense, net

(607)(251)(1,726)(994)Net loss

(45,491)Basic and diluted net lossper share(1)

(0.93)Shares used to compute basic anddiluted net loss per share(1)

56,53150,43052,04248,754(1)  As a result of the issuance of 12,500 shares of common stock pursuant to a public offering in the fourth quarter of 2010 and the issuance of 12,040 shares pursuant to a private placement in the first quarter of 2009, there is a lack of comparability in the per share amounts between the three and twelve month periods presented. CADENCE PHARMACEUTICALS, INC.(a development stage company)CONDENSED BALANCE SHEETS(in thousands)December 31,December 31,2010 2009 (unaudited)AssetsCurrent assets:Cash, cash equivalents and short-term investments

82,006Restricted cash


485-Prepaid expenses and other current assets

1,268549Total current assets

136,04484,053Property and equipment, net

8,9868,300Intangible assets

15,000-Restricted cash

190190Other assets

SOURCE Cadence Pharmaceuticals, Inc.
Copyright©2010 PR Newswire.
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