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Cadence Pharmaceuticals Reports Second Quarter 2013 Financial Results
Date:7/31/2013

SAN DIEGO, July 31, 2013 /PRNewswire/ -- Cadence Pharmaceuticals, Inc. (NASDAQ: CADX), a biopharmaceutical company focused on acquiring, in-licensing, developing and commercializing proprietary products principally for use in the hospital setting, today reported financial results for the three and six months ended June 30, 2013.

For the second quarter ended June 30, 2013, Cadence reported net product revenue of $24.7 million, an increase of $13.6 million, or 123% from the second quarter of 2012, and an increase of $1.1 million, or 5% from the first quarter of 2013. Excluding the one-time recognition of $2.6 million of previously deferred net product revenue during the first quarter of 2013, net product revenue for the second quarter of 2013 increased by $3.7 million, or 18%, compared to the first quarter of 2013.

Additional highlights for the second quarter and first half of 2013 included:

  • Net product revenue for the first half of 2013 was $48.3 million, which includes the one-time recognition in the first quarter of 2013 of $2.6 million of previously deferred net product revenue. This represents an increase of $29.2 million, or 153%, compared to the first half of 2012. Excluding the one-time recognition of previously deferred revenue, net product revenue for the first half of 2013 was $45.7 million, which represents an increase of $26.6 million, or 139%, compared to the first half of 2012.
  • As of June 30, 2013, over 4,350 unique end-user customer accounts had ordered OFIRMEV, an increase of 37% from the same time last year. The number of repeat customers increased by 49% during that same time.
  • The average order size per end-user customer increased 27% during the second quarter of 2013 as compared to the second quarter of 2012.
  • The average number of orders per end-user customer increased more than 10% during the second
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  • SOURCE Cadence Pharmaceuticals, Inc.
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