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Depomed Reports Second Quarter 2014 Financial Results
Date:8/6/2014

e and record the proceeds of $240.5 million as a liability. As royalties and milestones are recognized under this arrangement, the liability is reduced and an implied non-cash interest expense is recognized.

During the three and six months ended June 30, 2014, Depomed recognized $33.3 million and $76.1 million, respectively, of non-cash revenues, $4.9 million and $10.3 million, respectively, in non-cash interest expense and $8.3 million and  $20.1 million, respectively, in non-cash tax expense related to this arrangement.

Second Quarter 2014 Financial ResultsTotal revenues for the second quarter of 2014 increased to $67.7 million from $30.0 million for the second quarter of 2013. A summary of total revenues for the first quarter of 2014 as compared to the corresponding prior period is as follows:Three Months Ended Six Months Ended June 30,June 30,2014201320142013(Unaudited)(Unaudited)(Unaudited)(Unaudited)Product sales:Gralise

$

15,111$

8,554$

25,970$

14,643Zipsor6,8225,55212,1658,592CAMBIA (1)4,958-9,582-Lazanda (1)1,354-2,034-Total product sales 28,245<
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SOURCE Depomed, Inc.
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