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Human Genome Sciences Announces First Quarter 2009 Financial Results and Key Developments
Date:4/29/2009

rm debt by more than 20 percent by capitalizing on an opportunity to repurchase $106 million of our outstanding convertible notes at reasonable prices. Our cash position was strengthened and continues to be sufficient to take us through the availability of Phase 3 data, the filing of marketing applications and the launch of our late-stage products."

HIGHLIGHTS OF RECENT PROGRESS

First HGS Product Sales Achieved with Delivery of ABthrax(TM) to U.S. Strategic National Stockpile; $154 Million in Revenue Recognized in the First Quarter

In the first quarter of 2009, HGS achieved its first product sales by initiating the delivery of 20,000 doses of ABthrax (raxibacumab) to the U.S. Strategic National Stockpile for emergency use in the treatment of inhalation anthrax. The Company expects to complete delivery in the current quarter. HGS recognized $153.8 million in ABthrax revenue in the first quarter, including $127.8 million in product sales, and will recognize at least $8.0 million in additional revenue from delivery in the second quarter of 2009.

Also under the contract, HGS plans to file a Biologics License Application (BLA) with the FDA in the second quarter of 2009. The Company will receive an additional $10 million from the U.S. Government upon FDA licensure of ABthrax. ABthrax is being developed under a contract entered into in 2006 with the Biomedical Advanced Research and Development Authority (BARDA) of the Office of the Assistant Secretary for Preparedness and Response (ASPR), U.S. Department of Health and Human Services (HHS).

Positive Results Announced for Second of Two Phase 3 Trials of Albuferon(R) in Chronic Hepatitis C; Late-Breaker Results of Both Phase 3 Trials Presented at EASL

In March 2009, HGS reported that Albuferon (albinterferon alfa-2b) met its primary endpoint of non-inferiority to Pegasys (peginterferon a
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SOURCE Human Genome Sciences, Inc.
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