Human Genome Sciences Announces First Quarter 2009 Financial Results and Key De...( - First HGS product sales achieved wi...)

- First HGS product sales achieved with delivery of ABthrax(TM) to U.S. Strategic National Stockpile -

- $177 million in first quarter revenues; cash balance of $397 million as of March 31, up $24 million from year-end 2008 -

- Positive results for second Phase 3 trial of Albuferon(R) in chronic hepatitis C; global marketing applications planned in fall 2009 -

- Initiation of Syncria(R) Phase 3 program brings $9 million milestone payment from GSK -

ROCKVILLE, Md., April 29 /PRNewswire-FirstCall/ -- Human Genome Sciences, Inc. (Nasdaq: HGSI) today announced financial results for the quarter ended March 31, 2009, and provided highlights of recent key developments.

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"In the first quarter of 2009, we achieved our first product sales with ABthrax, and both Albuferon and LymphoStat-B(R) continued to make excellent progress toward commercialization," said H. Thomas Watkins, President and Chief Executive Officer. "We reported positive results from the second of two pivotal trials of Albuferon in chronic hepatitis C, and we plan global marketing applications in fall 2009. We are on track to have the results of our two Phase 3 trials of LymphoStat-B in July and November 2009. We also received a $9 million milestone payment from GSK with the initiation of Phase 3 clinical development of Syncria in type 2 diabetes. In addition, we made solid financial progress during the quarter, reducing our long-term debt and strengthening our cash position."

FINANCIAL RESULTS

HGS reported that revenues for the quarter ended March 31, 2009 increased to $177.3 million, c
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