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Transcept Pharmaceuticals Reports Third Quarter 2009 Financial Results
Date:11/12/2009

652 and 385,214, respectively, for the nine months ended September 30, 2009 and 2008.

Cash, cash equivalents and marketable securities totaled $93.0 million at September 30, 2009.

Financial Guidance

Transcept believes it has substantial cash resources to cover a range of potential additional expenses that may be required to address the issues raised by the recent FDA Complete Response Letter on the Intermezzo® NDA.

General and administrative expense declined from approximately $5.02 million in the quarter ended June 30, 2009 to approximately $3.84 million in the quarter ended September 30, 2009. We anticipate that general and administrative expense will be closer to the lower end of this range during the fourth quarter of 2009 and the first half of 2010.

Research and development expense was approximately $2.25 million in the quarter ended June 30, 2009 and approximately $2.14 million in the quarter ended September 30, 2009. During the fourth quarter of 2009 and the first half of 2010, we anticipate:

  • Baseline research and development expense will remain substantially in line with these prior quarters;
  • Additional research and development expense of approximately $1.05 million will be incurred in connection with manufacturing activities undertaken in anticipation of the previously planned launch of Intermezzo® in 2010; and
  • Additional research and development expense will be incurred as Transcept determines and undertakes activities to support the planned resubmission of the Intermezzo® NDA.

Transcept is working with the FDA to schedule a meeting in early 2010, and plans to provide an update to investors as appropriate.

Conference Call and Webcast Information

Transcept will host a conference call and webcast on Thursday, November 12, 2009, at 5:00 p.m. Eastern time to discuss thir
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SOURCE Transcept Pharmaceuticals, Inc.
Copyright©2009 PR Newswire.
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