Investor Relations
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Investor Relations Contact Info:
Cubist Investor Relations Contact |
Building Long-term Shareholder Value
- Optimizing CUBICIN® (daptomycin for injection)
- Expanding product portfolio
- Exercising strong financial discipline
Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) is a biopharmaceutical company focused on the research, development and commercialization of products that address unmet medical needs in the acute care environment. CUBICIN® (daptomycin for injection), our first in class I.V. antibiotic, has experienced the most successful I.V. antibiotic launch, in dollar terms, in U.S. history. A comparison with historical sales trends demonstrates the significant continued growth potential for CUBICIN. Cubist anticipates that CUBICIN sales will continue growing to >$1 billion annually in the U.S.
What's next for Cubist?
Cubist is moving forward confidently and successfully as an acute care-focused therapeutics company. We made marked progress in 2009 as we continue to leverage the capabilities and infrastructure we have built. The steps we have taken have all been made with a focus on growing long term shareholder value. As reported on January 21, 2010, we grew both revenues and operating income in FY 2009, while bringing in additional assets and progressing exciting and important pipeline programs.
- 2009 total net revenues of $562M were up 30% vs. 2008. 2009 operating income of $138M grew 52% over 2008. FY2009 fully diluted net income was $1.36 per share. As of December 31, 2009, Cubist had $496 million in cash, cash equivalents and investments.
- Cubist acquired Calixa Therapeutics Inc. in December 2009. The acquisition gives Cubist Calixa's rights to develop and commercialize the lead compound, CXA-201, and other products that incorporate the novel anti-pseudomonal cephalosporin, CXA-101, in all territories of the world except select Asia-Pacific and Middle East territories. CXA-201 is being developed as a first-line intravenous therapy for the treatment of certain serious Gram-negative bacterial infections in the hospital, including those caused by multi-drug resistant (MDR) Pseudomonas aeruginosa.
- In 2008, we in-licensed a Phase 2 stage compound, ecallantide, which is being developed as a therapy to reduce bleeding in on-pump cardiac surgery. In December 2009, Cubist announced the early closing of enrollment of both CONSERV™ Phase 2 trials based on an observation of a statistical difference in mortality between the arms of the CONSERV-2 trial. Cubist expects to complete analysis of all the data from both CONSERV-1 and CONSERV-2 in the first half of 2010 and subsequently determine the next steps for this program.
- Two Cubist-discovered drug candidates are also progressing through clinical trials. We expect to initiate a Phase 2 trial in first half of 2010 for our oral antibiotic in development for the treatment of Clostridium difficile-associated diarrhea. Our I.V. antibiotic in development for infections caused by multi-drug-resistant Gram-negative bacteria such as Pseudomonas, Klebsiella, Acinetobacter and E. coli has completed Phase 1 trials. These well-differentiated drug candidates, if successfully developed and commercialized, would address areas of high unmet medical need.
- Cubist is working on several pre-clinical programs, addressing areas of significant medical need. These include an anti-infective program, in collaboration with Alnylam Pharmaceuticals, Inc., for the treatment of respiratory syncytial virus (RSV) in children, therapies to treat various serious bacterial infections, and agents to treat acute pain.