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Adolor Corp (ADLR) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2009

Adolor Corp

CIK: 1076167 Ticker: ADLR

Exhibit 99.1

 

 

700 Pennsylvania Drive

 

Exton, Pennsylvania 19341

 

 

 

484.595.1500 p

 

484.595.1520 f

 

 

 

www.adolor.com

 

FOR IMMEDIATE RELEASE
 

Contact:

Adolor Corporation

Stephen W. Webster

Senior Vice President, Finance and CFO

(484) 595-1500

 

ADOLOR REPORTS YEAR-END 2009 FINANCIAL RESULTS

 

— ENTEREG® Net Sales of $14.6 Million in 2009 —

 

— Introduces 2010 ENTEREG Net Product Sales Guidance of $30 Million to $35 Million —

 

EXTON, PA, February 25, 2010

— Adolor Corporation (NasdaqGM: ADLR) today reported a net loss of $47.9 million, or $(1.03) per basic and diluted share, for the year ended December 31, 2009, compared to a net loss of $30.1 million, or $(0.65) per basic and diluted share, for the year ended December 31, 2008.  The prior year net loss was favorably impacted by a $20.0 million milestone payment received from GlaxoSmithKline (GSK) in the second quarter of 2008 upon the approval of ENTEREG® (alvimopan) by the U.S. Food and Drug Administration.

 

Net product sales of ENTEREG for the year ended December 31, 2009 were $14.6 million compared to $1.2 million for the year ended December 31, 2008, primarily as a result of a full year of sales in 2009 and growth in the number of ordering hospitals.

 

In addition to its progress with ENTEREG, Adolor has advanced its research and development programs.  Highlights include:

 

·                  Initiation with Pfizer Inc. of a Phase 2a proof-of-concept study for the two delta opioid receptor agonist compounds, ADL5859 and ADL5747, in patients suffering from osteoarthritis;

·                  Initiation in January 2010 of a Phase 2a proof-of-concept study of ADL5747 in patients suffering from post-herpetic neuralgia;

·                  Initiation of clinical testing of ADL7445 in a Phase 1, single ascending dose trial in healthy volunteers that will assess safety and tolerability of the compound; and

·                  The in-license from Eli Lilly of ADL5945 in September 2009 and the initiation of clinical study of the compound in February 2010.

 

“2009 was a year of progress for Adolor,” said Michael R. Dougherty, President and Chief Executive Officer.  “The highlight of the year was the rebuilding of our clinical development pipeline, with multiple compounds now in development in both our delta opioid receptor agonist and opioid bowel dysfunction (OBD) programs.  2009 also was our first full year of commercial sales of ENTEREG, and we saw growth in the number of

 


The following information was filed by Adolor Corp (ADLR) on Thursday, February 25, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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