SAN DIEGO, Nov. 5, 2010 /PRNewswire-FirstCall/ -- Cadence Pharmaceuticals, Inc. (Nasdaq: CADX), a biopharmaceutical company focused on in-licensing, developing and commercializing proprietary product candidates principally for use in the hospital setting, today reported financial results for the three and nine months ended September 30, 2010.
On November 2, Cadence announced that the U.S. Food and Drug Administration (FDA) approved OFIRMEV™ (acetaminophen) injection for the management of mild to moderate pain, the management of moderate to severe pain with adjunctive opioid analgesics, and the reduction of fever.
"We believe that there is a clear need for OFIRMEV in the U.S., as the classes of IV analgesics available to treat acute pain – opioids and NSAIDS – are associated with significant side effects. OFIRMEV is an important new treatment option that provides patients with significant pain relief while reducing opioid consumption," said Ted Schroeder, President and CEO of Cadence. "The approval of OFIRMEV marks Cadence's transition into a commercial enterprise poised to support the successful launch of our first product early in the first quarter of 2011."
Financial ResultsFor the three months ended September 30, 2010, Cadence reported a net loss of $11.7 million, or $0.23 per share, compared to a net loss of $11.4 million, or $0.23 per share, for the comparable period in 2009. For the nine months ended September 30, 2010, Cadence reported a net loss of $37.9 million, or $0.75 per share, compared to a net loss of $30.2 million, or $0.63 per share, for the comparable period in 2009.
Operating expenses for the three months ended September 30, 2010 decreased $0.2 million to $11.1 million, from the $11.3 million reported for the same period in 2009. This decrease was primarily a result of lower research and development spending and ge
|SOURCE Cadence Pharmaceuticals, Inc.|
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