Exhibit 99.1
Investor Relations:
Christopher Taylor
781-398-2466
Media Relations:
Sarah Emond
781-398-2544
For Immediate Release
Oscient Pharmaceuticals Provides Preliminary Revenue Results for the First Quarter of 2007
— Total revenue increases 100% over Q1 2006 reflecting contribution of ANTARA® —
Waltham, Mass., April 11, 2007 –Oscient Pharmaceuticals Corporation (Nasdaq: OSCI) today announced preliminary revenue for the first quarter of 2007. The Company expects to record total revenues of approximately $23 million in the first quarter of 2007, compared to $11.0 million in total revenues in the first quarter of 2006, prior to the acquisition of ANTARA® (fenofibrate) capsules.
During the first quarter of 2007, the Company expects to record approximately $12 million in revenue from ANTARA and approximately $11 million in revenues from FACTIVE® (gemifloxacin mesylate) tablets. These results compare to $9.2 million in FACTIVE revenue in the first quarter of 2006 and reflect a greater emphasis by the Company’s sales force on FACTIVE during the winter respiratory tract infection season.
The Company expects its total cash, including restricted cash and cash equivalents, as of March 31, 2007, to be approximately $38 million, reflecting a cash position decrease during the first quarter of approximately $7 million.
During the first quarter of 2007, more than 119,000 prescriptions for ANTARA were filled, representing a 5.0% increase in dispensed prescriptions compared to the fourth quarter of 2006. During this same time period, the prescriptions for branded fenofibrates grew 2.2%. The four-week rolling average for ANTARA weekly scripts increased 12%, from 8,150 at the time Oscient acquired ANTARA in August 2006, to more than 9,100 at the end of the first quarter of 2007.
In the first quarter of 2007, approximately 99,000 revenue generating prescriptions for FACTIVE were dispensed. During the first quarter of 2006, 118,000 prescriptions were dispensed, of which approximately 86,500 were revenue generating.
The Company plans to announce financial results for the first quarter of 2007 and host a conference call with investors in early May.
About Oscient Pharmaceuticals
Oscient Pharmaceuticals Corporation is a commercial-stage biopharmaceutical company marketing two FDA-approved products with its national primary care sales force. ANTARA® (fenofibrate) capsules is indicated for the adjunct treatment of hypercholesterolemia (high blood cholesterol) and hypertriglyceridemia (high triglycerides) in combination with diet. FACTIVE® (gemifloxacin mesylate) tablets is an antibiotic approved for the treatment of acute bacterial exacerbations of chronic bronchitis and community-acquired pneumonia of mild to moderate severity. Oscient also has a novel, late-stage antibiotic candidate, Ramoplanin, under investigation for the treatment ofClostridium difficile-associated disease (CDAD).
For important information regarding the safety and use of ANTARA and FACTIVE, please see the full prescribing information available atwww.antararx.com andwww.factive.com.
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Q1 Preliminary Results
April 11, 2007
Page 2 of 2
Forward-Looking Statement
This news release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements with regard to (i) preliminary 2007 first quarter financial results, (ii) the Company’s cash balances as of March 31, 2007, and (iii) the relative contribution to revenue of the Company’s products. Forward-looking statements represent our management’s judgment regarding future events. Forward-looking statements typically are identified by use of terms such as “may,” “will,” “should,” “plan,” “expect,” “intend,” “anticipate,” “estimate,” and similar words, although some forward-looking statements are expressed differently. We do not plan to update these forward-looking statements. You should be aware that our actual results could differ materially from those contained in the forward-looking statements due to a number of risks affecting our business. These risks include, but are not limited to (a) our ability to successfully commercialize and market ANTARA or FACTIVE due to: the limitations on our resources and experience in the commercialization of products; lack of acceptance by physicians, patients and third party payors; unanticipated safety, product liability, efficacy, or other regulatory issues; delays in recruiting and training sales personnel; problems relating to manufacturing or supply; delays in the supply of products by the third party manufacturers and suppliers on which we rely; inadequate distribution of the products by wholesalers, pharmacies, hospitals and other customers; and competition from other products; (b) whether we will be able to expand the indications for which FACTIVE is approved; (c) the delay in or inability to obtain additional regulatory approvals of our products and product candidates due to negative, inconclusive or insufficient results in ongoing or future clinical trials, the FDA requiring additional information or data, delays in the progress of ongoing clinical trials, safety concerns arising with respect to our products or product candidates and disputes with the third parties from whom we license our products or product candidate; (d) delays by the FDA; (e) the Company’s inability to raise additional capital on favorable terms or at all and (f) claims against us by third parties, including claims relating to our intellectual property position. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ending December 31, 2006 and in other filings that we may make with the Securities and Exchange Commission from time to time.
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