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Cadence Pharmaceuticals Reports Fourth Quarter and Full Year 2012 Financial Results
Date:3/7/2013

incurred during the fourth quarter of 2012 as compared to the same period in 2011. For the twelve months ended December 31, 2012, selling, general and administrative expenses increased by $5.3 million to $86.8 million, from $81.5 million for 2011. This increase was mostly attributable to additional legal costs incurred in 2012 related to the company's ongoing intellectual property litigation, increased commissions earned by Cadence's hospital sales specialists as a result of higher sales levels, and additional costs incurred in connection with product distribution and related services. These increases were partially offset by lower medical affairs and marketing costs.  

As of December 31, 2012, Cadence reported cash, cash equivalents and short-term investments of $62.1 million. This figure does not include the $14.6 million of cash received by the company in early January 2013 in connection with the waiver of its option to acquire Incline and the sale of its shares of Incline stock. Net accounts receivable at December 31, 2012, was $6.2 million.

GuidanceAs of March 7, 2013, Cadence expects that net product revenue from sales of OFIRMEV for the twelve months ending December 31, 2013, will range from $94.0 million to $100.0 million.

Conference Call and Webcast on March 7, 2013 at 5:30 a.m. Pacific Time (8:30 a.m. Eastern Time) Cadence management will host a conference call on March 7, 2013, at 5:30 a.m. Pacific Time (8:30 a.m. Eastern Time) and interested investors may participate in the conference call by dialing (877) 303-9145 (domestic) or (760) 536-5203 (international). To access the webcast, please visit the company's website at www.cadencepharm.com and go to the Investors page. A replay of the webcast will be available approximately two hours after the call and remain available on the company's website until the next quarterly financial results call. Cadence uses the Investors portion of
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SOURCE Cadence Pharmaceuticals, Inc.
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