CV Therapeutics Significantly Reduces Operating Expenses and Medarex to Present at the Bank of America 2007 Health Care Conference.

0 Comments | M2 Presswire, May, 2007

M2 PRESSWIRE-25 May 2007-U.S. Equity News: CV Therapeutics Significantly Reduces Operating Expenses and Medarex to Present at the Bank of America 2007 Health Care Conference(C)1994-2007 M2 COMMUNICATIONS LTD RDATE:25052007 City of Industry, CA - Biotechnology industry alert provided by U.S.

Equity News. CV Therapeutics, Inc. (Nasdaq: CVTX) announced on May 24, 2007 that it is lowering its annual operating expense guidance by approximately $75 million. Prior operating expense guidance for the calendar year 2007 was $275-$285 million. The Company now estimates that operating expenses for the next four quarters (Q3 2007 to Q2 2008) will total $200-$210 million. These planned savings will be realized primarily through significant optimization of the Company's...