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Cadence Pharmaceuticals Reports Third Quarter 2013 Financial Results
Date:11/5/2013

SAN DIEGO, Nov. 5, 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 nine months ended September 30, 2013.

Highlights for the third quarter of 2013 included:

  • Net product revenue for the third quarter of 2013 was $29.0 million, representing increases of $15.1 million, or 109%, from the third quarter of 2012, and $4.3 million, or 17%, from the second quarter of 2013.
  • Gross margin on sales of OFIRMEV was 66% for the third quarter of 2013, compared to 56%, for the third quarter of 2012.
  • The number of unique end-user customer accounts that ordered OFIRMEV during the third quarter of 2013 increased 33% as compared to the same period in 2012.
  • The average order size per end-user customer increased 22% during the third quarter of 2013 as compared to the third quarter of 2012.
  • The average number of orders per end-user customer increased approximately 8% during the third quarter of 2013, as compared to the third quarter of 2012.
  • "We maintained our strong performance during the third quarter, with OFIRMEV continuing to gain market share and posting year-over-year sales growth of more than 100% in each quarter of 2013," said Ted Schroeder, President and CEO of Cadence. "In addition, our disciplined approach to controlling expenses has enabled us to reduce our cash burn despite the legal expenses we continue to incur to defend the intellectual property covering OFIRMEV."Financial Results
    Cadence's net product revenue for the three months ended September 30, 2013 was $29.0 million, an increase of 109%, from the $13.9 million in net product revenue recognized for the three months ended September 30, 2
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    SOURCE Cadence Pharmaceuticals, Inc.
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