NEWTOWN, Pa.--(BUSINESS WIRE)--CollaGenex Pharmaceuticals, Inc. (NASDAQ: CGPI) today reported financial results for the quarter ended September 30, 2006. Total net revenues for the third quarter of 2006 were $5.6 million, including $2.2 million in net sales of Oracea(TM), compared to $4.5 million in total net revenues, with no Oracea sales, in the third quarter of 2005. Oracea, the first systemic treatment approved by the FDA for the treatment of rosacea, was launched to the U.S. dermatology community in July 2006. In accordance with the Company’s revenue recognition policy relating to the launch of a new product, CollaGenex recognized third quarter Oracea net sales based on the number of dispensed prescriptions, as reported by an independent prescription tracking service, rather than on shipments to wholesalers.
