LEXINGTON, Mass.--(BUSINESS WIRE)--Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) today announced that its financial results for 2007 will incorporate a $1.2 million charge to Q4 that was not included in the unaudited financial information released on January 23, 2008. This charge will be included in the financial statements to be filed in the company’s form 10-K. The $1.2 million charge reflects the cash on Illumigen’s balance sheet on December 26, 2007, the closing date for the acquisition of Illumigen by Cubist. Consistent with the terms of the acquisition agreement, the cash balance was added to the purchase price. The all cash payment for the acquisition, including the $1.2 million, is being made in 2008, but all costs related to the transaction were charged to Q4 2007, when the transaction closed. Including this charge, diluted earnings per share are $0.14 for Q4 2007 and $0.83 for fiscal year 2007.
