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Showing posts with label Reports. Show all posts

Aware, Inc. Reports Second Quarter 2014 Financial Results

BEDFORD, Mass., July 22, 2014 /PRNewswire/ -- Aware, Inc. (NASDAQ: AWRE), a leading supplier of biometrics software and services, today reported financial results for its second quarter ended June 30, 2014.

Revenue for the second quarter of 2014 was $6.8 million, an increase of 53% compared to $4.4 million in the same quarter last year. Operating income before patent related income in the second quarter of 2014 was $1.4 million compared to $0.5 million in the second quarter of 2013. The increase in revenue and operating income was driven by higher sales of software licenses, software maintenance, services, and hardware.

Income from continuing operations in the second quarter of 2014 was $0.9 million compared to $0.5 million in the second quarter of 2013.  Net income in the second quarter of 2014 was $0.9 million, or $0.04 per diluted share, which compares to net income of $0.3 million, or $0.01 per diluted share, in the same period a year ago.  Net income in the year ago quarter included a $158,000 loss from discontinued operations.

For the six months ended June 30, 2014, revenue increased 42% to $13.4 million, compared to $9.4 million in the same period a year ago.  Operating income before patent related income for the first six months of 2014 and 2013 was unchanged at $2.7 million.

Net income for the six months ended June 30, 2014 was $1.7 million, or $0.08 per diluted share. These results compared to net income of $2.2 million, or $0.10 per diluted share, for the same period a year ago. Net income in the year ago six month period included $780,000 of income from a patent arrangement less a $273,000 loss from discontinued operations.

Rick Moberg, Aware's co-chief executive officer and chief financial officer, said, "The second quarter was an eventful quarter for us in three respects.  First, we were able to deliver solid operating earnings despite increased spending on new product development initiatives. Second, our engineering teams continued to make progress in the accuracy and scalability of our biometric matching technology which currently is offered through our NEXA product line.  And thirdly, we announced that we were going to pay a $1.75 special cash dividend in July 2014. We hope to carry the momentum we saw in the first six months of 2014 into the second half of the year."

About Aware
Aware is a leading provider of biometrics software products and development services to governments, system integrators, and solution providers globally. Our products include SDKs, software components, workstation applications, and a modular, centralized, service-oriented platform. They fulfill a broad range of functions critical to biometric authentication and search, including face, fingerprint, and iris autocapture, image quality assurance, data compliance, capture hardware peripheral abstraction, centralized data processing and workflow, subsystem connectivity, and biometric matching algorithms. The products are used to enable identity-centric security solutions with biometrics for applications including border management, credentialing and access control, intelligence and defense, and law enforcement. Aware is a publicly held company (Nasdaq: AWRE) based in Bedford, Massachusetts.

See Aware's website for more information about our biometrics software products.

Safe Harbor Warning
Portions of this release contain forward-looking statements regarding future events and are subject to risks and uncertainties, such as estimates or projections of future revenue and earnings, and the growth of the biometrics markets. Aware wishes to caution you that there are factors that could cause actual results to differ materially from the results indicated by such statements.

Risk factors related to our business include, but are not limited to: i) our operating results may fluctuate significantly and are difficult to predict; ii) we derive a significant portion of our revenue from government customers, and our business may be adversely affected by changes in the contracting or fiscal policies of those governmental entities; iii) we derive a significant portion of our revenue from third party channel partners; iv) we face intense competition from other biometrics solution providers; v) our business is subject to rapid technological change; vi) our software products may have errors, defects or bugs which could harm our business; vii) our business may be adversely affected by our use of open source software; viii) our intellectual property is subject to limited protection; ix) we may be sued by third parties for alleged infringement of their proprietary rights; x) we must attract and retain key personnel; xi) we rely on single sources of supply for certain components used in our hardware products; xii) our business may be affected by government regulations and adverse economic conditions; and xiii) we may make acquisitions that could adversely affect our results.

We refer you to the documents Aware files from time to time with the Securities and Exchange Commission, specifically the section titled Risk Factors in our annual report on Form 10-K for the fiscal year ended December 31, 2013 and other reports and filings made with the Securities and Exchange Commission.

Aware is a trademark or registered trademark of Aware, Inc.
Any other trademarks appearing herein are the property of their respective owners.

AWARE, INC

CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share data)

(unaudited)

Operating income before patent related income

Income from patent arrangement

Operating income after patent related income

Income from continuing operations before income taxes

Income from continuing operations

Loss from discontinued operations, net of income taxes

   Basic net income per share from continuing operations

   Basic net loss share from discontinued operations

   Diluted net income per share from continuing operations

   Diluted net loss per share from discontinued operations

Weighted-average shares – basic

Weighted-average shares - diluted

AWARE, INC

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

(unaudited)

LIABILITIES AND STOCKHOLDERS' EQUITY

     Total current liabilities, excluding dividends payable

     Total liabilities and stockholders' equity

SOURCE Aware, Inc.

RELATED LINKS
http://www.aware.com

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WaferGen Bio-systems Reports Strong Revenue Growth for Q1 2014

FREMONT, Calif., May 8, 2014 /PRNewswire/ -- WaferGen Bio-systems, Inc. (OTCQB: WGBS) announced today its financial results for the first quarter ended March 31, 2014.

Key Highlights

Revenue for the first quarter of 2014 was $1.4 million, up 687% year over year Revenue for the first quarter of 2014 was 7.7% higher than the total revenue for fiscal year 2013 Net loss for the first quarter of 2014 was $2.5 million, compared to a net loss of $3.8 million in the first quarter of 2013 Cash balance at March 31, 2014 of $6.4 millionTotal revenue for the first quarter of 2014 was $1.4 million, up 687% from $179,000 in the first quarter of 2013.  Net loss for the first quarter of 2014 was $2.5 million, compared to a net loss of $3.8 million in the first quarter of 2013. The net loss reduction was primarily due to an increase in revenue of $1.2 million resulting in an increase in gross profit of $686,000 and a $1.6 million improvement in other income and expenses as a result of reduced interest expense and changes in derivative valuations, offset by a $1.0 million increase in operating expenses.

"We had a strong revenue performance in the first quarter across our product lines with a diverse customer base.  The rapid increase in adoption of our SmartChip platform was augmented by sales of the newly acquired Apollo business," said Ivan Trifunovich, President and CEO of WaferGen.  He added, "As previously disclosed, on January 6, 2014, we acquired substantially all of the assets of IntegenX's product line used in library preparation for NGS, including the Apollo 324TM instrument and PrepXTM reagents, which clearly put us in a strong competitive position.  In fact, the first quarter revenue was almost 8% higher than revenues for all of calendar year 2013, due to higher sales of the Smart Chip products and revenues from the newly acquired product lines.  Another important Q1 milestone was the launch of the SeqReadyTM version of the SmartChip TETM product, which drastically improves throughput and compresses the workflow in NGS sample preparation.  This new product contributed to sales into the clinical NGS market.  We are excited about our progress in the first quarter and we look forward to continuing the momentum as we further execute our growth strategy."

2014 Guidance

Based on our recent results and the successful integration of the IntegenX's product line used in library preparation for NGS, we are increasing the revenue guidance for full year 2014 to be in excess of $6M for 2014 from our prior guidance of in excess of $5 million.  Our net cash use is expected to be $750,000-$800,000 per month.

Investor Conference Call

As previously announced, management will host a conference call and live audio webcast to discuss its financial results for the quarter ended March 31, 2014, today at 5:00 pm ET, 2:00 PT.  Investors are invited to join the webcast and listen to the replay by clicking on the following link: http://public.viavid.com/index.php?id=109116.  In addition, interested parties may listen to the live broadcast by calling (877) 407-3982 for domestic participants and (201) 493-6780 for international participants.

About WaferGen

WaferGen Bio-systems, Inc. is an innovative life science company that offers innovative genomic solutions for clinical testing and research.  The SmartChip MyDesignTM Real-Time PCR System is a high-throughput genetic analysis platform for profiling and validating molecular biomarkers via microRNA and mRNA gene expression profiling, as well as single nucleotide polymorphism (SNP) genotyping.  The SmartChip TETM System is a novel product offering for target enrichment geared towards clinical Next-Gen sequencing (NGS).  The Company now also offers the Apollo 324TM product line used in library preparation for NGS.  These three complementary technologies offer a powerful set of tools enabling more accurate, faster and cheaper genetic analysis based on Next-Gen Sequencing and Real-Time PCR.

For additional information, please see http://www.wafergen.com

Forward Looking Statements

Certain statements made in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended that are intended to be covered by the "safe harbor" created by those sections.  Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "estimate," "anticipate" or other comparable terms.  Forward-looking statements in this press release may address the following subjects among others: statements regarding the sufficiency of our capital resources, expected operating losses, expected revenues, expected expenses, expected cash usage and our expectations concerning our competitive position and business strategy.  Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q.  We urge you to consider those risks and uncertainties in evaluating our forward-looking statements.  We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made.  Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Investor Contacts:

ICR, Inc.
Bob Yedid
bob.yedid@icrinc.com
646-277-1250

Proactive Capital
Jeff Ramson
jramson@proactivecrg.com 
646-863-6893

WaferGen Bio-systems, Inc.
Stephen Baker 
stephen.baker@wafergen.com
510-780-2399

WAFERGEN BIO-SYSTEMS, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Operations (Unaudited)

Gain (loss) on revaluation of derivative liabilities, net

Total other income and (expenses)

Net loss before provision for income taxes

Net loss attributable to common stockholders

Net loss per share - basic and diluted

Shares used to compute net loss per share - basic and diluted

WAFERGEN BIO-SYSTEMS, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

Prepaid expenses and other current assets

Liabilities and Stockholders' Equity (Deficit)

Accrued payroll and related costs

Long-term debt, net of discount

Stockholders' equity (deficit):

Preferred Stock: $0.001 par value; 10,000,000 shares authorized; 2,944.7080 shares of Series 1 Convertible Preferred Stock issued and outstanding at March 31, 2014 and December 31, 2013

Common Stock: $0.001 par value; 300,000,000 shares authorized; 9,120,884 and 9,112,559 shares issued and outstanding at March 31, 2014 and December 31, 2013

Total stockholders' equity (deficit)

Total liabilities and stockholders' equity (deficit)

SOURCE WaferGen Bio-systems, Inc.

RELATED LINKS
http://www.wafergen.com

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Biometrics Market Forecasts: Fingerprint Technologies, Facial and Iris Reading Algorithms Analyzed in New Research Reports

Market Research Reports and Industry Trends Analysis. (PRNewsFoto/ReportsnReports)jwplayer.key="2kY/GKwZ2uQZmDlQ9VYArfZt2b4+KhHX3+DM4zisgtE=";DALLAS, Dec. 4, 2013 /PRNewswire-iReach/ -- The 2013 biometrics industry study has 563 pages, 249 tables and figures. Worldwide markets for biometrics are poised to achieve significant growth. As people increasingly use electronics in their personal life, protection of individual information becomes a more compelling problem. Biometrics devices protect individual information.

(Photo: http://photos.prnewswire.com/prnh/20131204/MN27463)

The global biometrics market (http://www.reportsnreports.com/reports/270180-biometrics-market-shares-strategies-and-forecasts-worldwide-2013-to-2019.html) is anticipated to reach $16.7 billion by 2019. Market growth is a result of demand for protection of individual information and for the needs of organization to control access to documents and to areas.

Biometric identity units provide security protection. Units are comprised of integrated biometric capture devices. Biometrics is used to identify anyone in an accurate, repeatable manner. Physiological characteristics used for biometrics commonly include the face, fingerprints, and DNA. Behavioral characteristics include the user's digital signature, his or her voiceprint, and walk.

As law enforcement programs are redesigned to include information from social media and to initiate smarter cities initiatives, biometrics becomes a more compelling technology, both fingerprinting and facial recognition. Technologies. With the worldwide rise in the threat of terror, biometric systems become a more compelling tool in the hands of the authorities charged with keeping populations safe. Order a copy of this report at http://www.reportsnreports.com/purchase.aspx?name=270180.

A rise in government projects has been seen as terrorists become an increasing threat. This has been accompanied by increasing data security concerns. There is a need for advanced security devices. Security systems implementations drive the market for biometric systems. Biometric data protection is being used to replace photographs, passwords and PIN codes.

Growth of biometric technologies has been in response to global security threats. Terrorist attacks, airport security initiatives, and attempts to lower crime rates have brought an increasing investment in biometric security systems. Government projects include ePassports, eDriving licenses, border management, and national IDs. These initiatives have been implemented in developed countries.

India, Mexico and Russia are driving the extraordinary growth of biometric systems. China has a biometric national ID program that commenced in 2013. Computer storage of important documents has created an increasing need for biometric security systems. Request Sample for this Report at http://www.reportsnreports.com/contacts/requestsample.aspx?name=270180 .

According to the study, "Biometric devices represent a major factor impacting law enforcement and border patrol markets. Governments and law enforcement agencies are leveraging biometric devices to strengthen all aspects of citizen protection. Healthcare organizations are implementing biometric systems to provide patient privacy."

Biometrics Company Description:

3M/Cogent Systems Apple / AuthenTec Aware BIO-key Cognitec Systems Communication Intelligence Corporation Cross Match / Francisco Partners CSC eKey EgisTec Fingerprint Cards AB Fujitsu Gemalto Google Green Bit IBM Facial Recognition IdentiPHI Interlink Electronics Iris ID Systems IriTech RDSK / Litronic Mereal Biometrics Merkatum Biometrics Security & ID Motorola Solutions NitGen & Company Precise Biometrics NEC Nuance Safran Morpho Science Applications International Corporation (SAIC) SecuGen Siemens AG SmartMetric Smiths Detection Steria STMicroelectronics Suprema Symantec Tyco Integrated Security UnionCommunity  /  Virdi Vision-Box Witswell Consulting and Services / Cyber-SIGNOther Related Reports on Biometrics Market:

Global Consumer Electronic Biometrics Market 2012-2016: Analysts forecast the Global Consumer Electronic Biometrics market to grow at a CAGR of 40.45 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing use of personal devices for financial transactions. The Global Consumer Electronic Biometrics market has also been witnessing increasing number of mergers and acquisitions. However, the availability of inexpensive non-biometric technologies could pose a challenge to the growth of this market.

The key vendors dominating this space include 3M Cogent Inc., AuthenTec Inc., Fujitsu Ltd., and NEC Corp. Order a copy of this report at http://www.reportsnreports.com/purchase.aspx?name=267931.

Global Palm Vein Biometrics Market 2012-2016: Analysts forecast the Global Palm Vein Biometrics market to grow at a CAGR of 46.6 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing need for advanced security systems. The Global Palm Vein Biometrics market has also been witnessing an increasing deployment of palm vein biometrics. However, the need for improved compatibility and standardization could pose a challenge to the growth of this market. 

The key vendors dominating this space include Fujitsu Ltd., iAccess Systems Inc., and M2SYS Technology.

The other vendors mentioned in this report are Bionics Co. Ltd. and Hitachi Information and Control Solutions Ltd. Order a copy of this report at http://www.reportsnreports.com/purchase.aspx?name=267916.

Global Biometric Readers Market 2012-2016: Global Biometric Readers market to grow at a CAGR of 17.1 percent over the period 2012-2016. One of the key factors contributing to this market growth is the need for high-level security in government departments. The Global Biometric Readers market has also seen an increase in the number of mergers and acquisitions. However, strong competition from inexpensive non-biometric technologies could pose a challenge to the growth of this market.

The key vendors dominating this market space are Fujistsu Ltd., 3M Cogent Inc., NEC Corp., and Safran Group. The other vendors mentioned in the report are RCG Holdings, Panasonic, Biometric Security Ltd, Cross Match Technologies Inc., Suprema Inc. Fingerprint Cards AB, AuthenTec, and Siemens Biometrics. Order a copy of this report at http://www.reportsnreports.com/purchase.aspx?name=222775.

About Us:

ReportsnReports.com is an online market research reports library of 350,000+ in-depth studies of over 5000 micro markets. Call +1 888 391 5441 with your research requirements or email the details on sales@reportsandreports.com This e-mail address is being protected from spambots. You need JavaScript enabled to view it and we would be happy to help you find the business intelligence that you need. Not limited to the biotechnology industry, ReportsnReports.com offers research studies on agriculture, energy and power, chemicals, IT & telecommunication, consumer goods, environment, medical devices, healthcare, food and beverages, retail, water, advanced materials and much more.

Media Contact: Priyank Tiwari, ReportsnReports, +1 888 391 5441, sales@reportsandreports.com

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE ReportsnReports

RELATED LINKS
http://www.reportsnreports.com

reade more... Résuméabuiyad

Biometrics Market Forecasts: Fingerprint Technologies, Facial and Iris Reading Algorithms Analyzed in New Research Reports

Market Research Reports and Industry Trends Analysis. (PRNewsFoto/ReportsnReports)jwplayer.key="2kY/GKwZ2uQZmDlQ9VYArfZt2b4+KhHX3+DM4zisgtE=";DALLAS, Dec. 4, 2013 /PRNewswire-iReach/ -- The 2013 biometrics industry study has 563 pages, 249 tables and figures. Worldwide markets for biometrics are poised to achieve significant growth. As people increasingly use electronics in their personal life, protection of individual information becomes a more compelling problem. Biometrics devices protect individual information.

(Photo: http://photos.prnewswire.com/prnh/20131204/MN27463)

The global biometrics market (http://www.reportsnreports.com/reports/270180-biometrics-market-shares-strategies-and-forecasts-worldwide-2013-to-2019.html) is anticipated to reach $16.7 billion by 2019. Market growth is a result of demand for protection of individual information and for the needs of organization to control access to documents and to areas.

Biometric identity units provide security protection. Units are comprised of integrated biometric capture devices. Biometrics is used to identify anyone in an accurate, repeatable manner. Physiological characteristics used for biometrics commonly include the face, fingerprints, and DNA. Behavioral characteristics include the user's digital signature, his or her voiceprint, and walk.

As law enforcement programs are redesigned to include information from social media and to initiate smarter cities initiatives, biometrics becomes a more compelling technology, both fingerprinting and facial recognition. Technologies. With the worldwide rise in the threat of terror, biometric systems become a more compelling tool in the hands of the authorities charged with keeping populations safe. Order a copy of this report at http://www.reportsnreports.com/purchase.aspx?name=270180.

A rise in government projects has been seen as terrorists become an increasing threat. This has been accompanied by increasing data security concerns. There is a need for advanced security devices. Security systems implementations drive the market for biometric systems. Biometric data protection is being used to replace photographs, passwords and PIN codes.

Growth of biometric technologies has been in response to global security threats. Terrorist attacks, airport security initiatives, and attempts to lower crime rates have brought an increasing investment in biometric security systems. Government projects include ePassports, eDriving licenses, border management, and national IDs. These initiatives have been implemented in developed countries.

India, Mexico and Russia are driving the extraordinary growth of biometric systems. China has a biometric national ID program that commenced in 2013. Computer storage of important documents has created an increasing need for biometric security systems. Request Sample for this Report at http://www.reportsnreports.com/contacts/requestsample.aspx?name=270180 .

According to the study, "Biometric devices represent a major factor impacting law enforcement and border patrol markets. Governments and law enforcement agencies are leveraging biometric devices to strengthen all aspects of citizen protection. Healthcare organizations are implementing biometric systems to provide patient privacy."

Biometrics Company Description:

3M/Cogent Systems Apple / AuthenTec Aware BIO-key Cognitec Systems Communication Intelligence Corporation Cross Match / Francisco Partners CSC eKey EgisTec Fingerprint Cards AB Fujitsu Gemalto Google Green Bit IBM Facial Recognition IdentiPHI Interlink Electronics Iris ID Systems IriTech RDSK / Litronic Mereal Biometrics Merkatum Biometrics Security & ID Motorola Solutions NitGen & Company Precise Biometrics NEC Nuance Safran Morpho Science Applications International Corporation (SAIC) SecuGen Siemens AG SmartMetric Smiths Detection Steria STMicroelectronics Suprema Symantec Tyco Integrated Security UnionCommunity  /  Virdi Vision-Box Witswell Consulting and Services / Cyber-SIGNOther Related Reports on Biometrics Market:

Global Consumer Electronic Biometrics Market 2012-2016: Analysts forecast the Global Consumer Electronic Biometrics market to grow at a CAGR of 40.45 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing use of personal devices for financial transactions. The Global Consumer Electronic Biometrics market has also been witnessing increasing number of mergers and acquisitions. However, the availability of inexpensive non-biometric technologies could pose a challenge to the growth of this market.

The key vendors dominating this space include 3M Cogent Inc., AuthenTec Inc., Fujitsu Ltd., and NEC Corp. Order a copy of this report at http://www.reportsnreports.com/purchase.aspx?name=267931.

Global Palm Vein Biometrics Market 2012-2016: Analysts forecast the Global Palm Vein Biometrics market to grow at a CAGR of 46.6 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing need for advanced security systems. The Global Palm Vein Biometrics market has also been witnessing an increasing deployment of palm vein biometrics. However, the need for improved compatibility and standardization could pose a challenge to the growth of this market. 

The key vendors dominating this space include Fujitsu Ltd., iAccess Systems Inc., and M2SYS Technology.

The other vendors mentioned in this report are Bionics Co. Ltd. and Hitachi Information and Control Solutions Ltd. Order a copy of this report at http://www.reportsnreports.com/purchase.aspx?name=267916.

Global Biometric Readers Market 2012-2016: Global Biometric Readers market to grow at a CAGR of 17.1 percent over the period 2012-2016. One of the key factors contributing to this market growth is the need for high-level security in government departments. The Global Biometric Readers market has also seen an increase in the number of mergers and acquisitions. However, strong competition from inexpensive non-biometric technologies could pose a challenge to the growth of this market.

The key vendors dominating this market space are Fujistsu Ltd., 3M Cogent Inc., NEC Corp., and Safran Group. The other vendors mentioned in the report are RCG Holdings, Panasonic, Biometric Security Ltd, Cross Match Technologies Inc., Suprema Inc. Fingerprint Cards AB, AuthenTec, and Siemens Biometrics. Order a copy of this report at http://www.reportsnreports.com/purchase.aspx?name=222775.

About Us:

ReportsnReports.com is an online market research reports library of 350,000+ in-depth studies of over 5000 micro markets. Call +1 888 391 5441 with your research requirements or email the details on sales@reportsandreports.com This e-mail address is being protected from spambots. You need JavaScript enabled to view it and we would be happy to help you find the business intelligence that you need. Not limited to the biotechnology industry, ReportsnReports.com offers research studies on agriculture, energy and power, chemicals, IT & telecommunication, consumer goods, environment, medical devices, healthcare, food and beverages, retail, water, advanced materials and much more.

Media Contact: Priyank Tiwari, ReportsnReports, +1 888 391 5441, sales@reportsandreports.com

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE ReportsnReports

RELATED LINKS
http://www.reportsnreports.com

reade more... Résuméabuiyad

Cadence Pharmaceuticals Reports Positive Outcome In OFIRMEV® Patent Litigation

SAN DIEGO, Nov. 14, 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, announced today that the U.S. District Court for the District of Delaware has ruled in favor of Cadence in the company's patent infringement lawsuit against Exela Pharma Sciences, LLC. 

"We are very pleased with the Court's decision, as it confirms our belief in the strength and validity of the patents covering OFIRMEV," said Ted Schroeder, president and chief executive officer of Cadence. "Our focus remains on continuing to drive OFIRMEV's strong performance. We continue to gain market share and posted year-over-year sales growth of more than 100% in each quarter of 2013. We remain confident in our franchise, and look forward to updating investors further on our progress."

In August 2011, Cadence and SCR Pharmatop, the patent owner, filed suit against Exela for infringement of two patents covering OFIRMEV® (Acetaminophen) Injection, U.S. 6,028,222, which expires on August 5, 2017 (or February 5, 2018, if pediatric exclusivity is granted), and U.S. 6,992,218, which expires on June 6, 2021 (or December 6, 2021, if pediatric exclusivity is granted).  The Court rejected Exela's claims that these patents are invalid and found that Exela's ANDA for a generic version of the product infringes both of these patents. 

About OFIRMEV® (Acetaminophen) Injection
OFIRMEV (acetaminophen) injection (1000 mg / 100 mL, 10 mg / mL; for intravenous use only), Cadence Pharmaceuticals' proprietary intravenous formulation of acetaminophen, is indicated for the management of mild to moderate pain, the management of moderate to severe pain with adjunctive opioid analgesics, and the reduction of fever. The FDA approval of OFIRMEV was based on data from clinical trials in approximately 1,020 adult and 355 pediatric patients. These trials included two studies evaluating the safety and effectiveness of OFIRMEV in the treatment of pain, and one study evaluating OFIRMEV in the treatment of fever. The effectiveness of OFIRMEV for the treatment of acute pain and fever has not been studied in pediatric patients less than 2 years of age.

Important Safety Information
RISK OF MEDICATION ERRORS AND HEPATOTOXICITY
Take care when prescribing, preparing, and administering OFIRMEV injection to avoid dosing errors which could result in accidental overdose and death.

OFIRMEV contains acetaminophen.  Acetaminophen has been associated with cases of acute liver failure, at times resulting in liver transplant and death.  Most of the cases of liver injury are associated with the use of acetaminophen at doses that exceed the recommended maximum daily limits, and often involve more than one acetaminophen-containing product.

OFIRMEV is contraindicated in patients with severe hepatic impairment, severe active liver disease or with known hypersensitivity to acetaminophen or to any of the excipients in the formulation.  Acetaminophen should be used with caution in patients with the following conditions: hepatic impairment or active hepatic disease, alcoholism, chronic malnutrition, severe hypovolemia, or severe renal impairment. Rarely, acetaminophen may cause serious skin reactions such as acute generalized exanthematous pustulosis (AGEP), Stevens-Johnson Syndrome (SJS), and toxic epidermal necrolysis (TEN), which can be fatal.  Discontinue OFIRMEV immediately if symptoms associated with allergy or hypersensitivity occur, or at the first appearance of skin rash. Do not use in patients with acetaminophen allergy.

The most common adverse reactions in patients treated with OFIRMEV were nausea, vomiting, headache, and insomnia in adult patients and nausea, vomiting, constipation, pruritus, agitation, and atelectasis in pediatric patients. The antipyretic effects of OFIRMEV may mask fever in patients treated with postsurgical pain. OFIRMEV is approved for use in patients ? 2 years of age. Do not exceed the recommended maximum daily dose of OFIRMEV. OFIRMEV should be administered only as a 15-minute infusion.

For more information, please see the full OFIRMEV Prescribing Information, including the complete boxed warning, which is available at www.OFIRMEV.com or www.cadencepharm.com.

About Cadence Pharmaceuticals, Inc.
Cadence Pharmaceuticals is a biopharmaceutical company focused on acquiring, in-licensing, developing and commercializing proprietary products principally for use in the hospital setting. The current version of Cadence Pharmaceuticals' corporate overview may be viewed on the Investors page of www.cadencepharm.com under "Events & Presentations" by selecting "Corporate Overview."

Forward-Looking Statements
Statements included in this press release and Cadence's conference call that are not a description of historical facts are forward-looking statements. Words such as "plans," "believes," "expects," "anticipates," and "will," and similar expressions, are intended to identify forward-looking statements, and are based on Cadence's current beliefs and expectations. Such statements include, without limitation, statements regarding: Cadence's belief that OFIRMEV is continuing to gain market share; the company's ongoing intellectual property litigation and related expenses; and the company's guidance regarding anticipated net product revenue from sales of OFIRMEV for the twelve months ending December 31, 2013. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Cadence's actual future results may differ materially from Cadence's current expectations due to the risks and uncertainties inherent in its business. These risks include, but are not limited to: Cadence's dependence on the successful commercialization of OFIRMEV, which is the company's only product; Cadence's ability to achieve broad market acceptance and generate revenues from sales of OFIRMEV; Cadence's dependence on its contract manufacturers and its ability to ensure an adequate and continued supply of OFIRMEV to meet market demand; Cadence's ability to successfully enforce its marketing exclusivities and intellectual property rights, and to defend the patents covering OFIRMEV, including in current intellectual property litigation with the parties that have submitted new drug applications ("NDAs") or abbreviated new drug applications ("ANDAs") for generic versions of OFIRMEV; the potential that Cadence may be required to continue intellectual property litigation for substantial lengths of time or file additional lawsuits to defend its patent rights from challenges by companies that have submitted NDAs or ANDAs for generic versions of OFIRMEV, and the substantial costs associated with such lawsuits; the potential introduction of generic competition to OFIRMEV in the event Cadence is unsuccessful in current or future intellectual property litigation, and the impact it may have on the sales and pricing of the product; Cadence's dependence on its licensors for the maintenance and enforcement of its intellectual property rights; the potential product liability exposure associated with pharmaceutical products such as OFIRMEV and other products Cadence may in-license or acquire; Cadence's ability to fully comply with numerous federal, state and local laws and regulatory requirements that apply to its commercial activities; public concern regarding the safety of drug products such as OFIRMEV, and the potential implementation by regulatory agencies of new requirements to include unfavorable information in the labeling for OFIRMEV; the risk that Cadence may not be able to raise sufficient capital when needed, or at all; and other risks detailed under "Risk Factors" and elsewhere in Cadence's periodic reports and other filings made with the Securities and Exchange Commission from time to time. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995, and Cadence undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.

Cadence® and OFIRMEV® are trademarks of Cadence Pharmaceuticals, Inc.        

Contact:  William R. LaRue 
SVP & Chief Financial Officer 
Cadence Pharmaceuticals, Inc.  
Phone: 858-436-1400

SOURCE Cadence Pharmaceuticals, Inc.

RELATED LINKS
http://www.cadencepharm.com

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