Cadence 4Q Loss Narrows Slightly On Lower Costs
SAN DIEGO (AP) ¿ Cadence Pharmaceuticals Inc. said Thursday its fourth-quarter loss narrowed slightly on lower research and development expenses.
The company lost $14 million, or 37 cents per share, compared with a loss of $14.2 million, or 50 cents per share, during the same period a year prior. Shares outstanding jumped to 38.2 million in the recent quarter from 28.7 million in the year-ago period. There was no revenue recorded in either quarter.
Analysts polled by Thomson Reuters expected a loss of 36 cents per share.
Operating costs fell to $13.5 million from $14.6 million.The company also said it cut development of Omigard, which was aimed at treating catheter-related infections. It expects operating expenses to fall in 2009 without that program. Shares of Cadence Pharmaceuticals gained 20 cents, or 3.3 percent, to close at $6.20.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV