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March 13, 2014
07:33 EDTZLCSZalicus reports FY13 EPS ($1.68), one estimate ($1.65)
Reports FY13 revenue $14.73M, one estimate $14.17M. Expects research and development expense to decrease significantly for the year ending December 31, 2014 due to terminated development activities related to our discontinued product candidate Z160. Zalicus has initiated a Phase 1 clinical study to evaluate the pharmacokinetics and safety of multiple modified-release formulations of Z944. Following the recent sale of the Exalgo royalty stream, prepayment of debt obligations and the strong performance of the cHTS services business, Zalicus has the financial resources to advance a modified release formulation of Z944 toward Phase 2 clinical development in an appropriate pain indication by late 2014.
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