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Human Genome Sciences Announces Second Quarter 2008 Financial Results and Key Developments
Date:7/30/2008

million, of which $532.9 million was unrestricted and available for operations, as of December 31, 2007.

"Our expectation for 2008 net cash burn remains in line with prior guidance of $135-155 million, and our cash position remains strong," said Tim Barabe, Senior Vice President and Chief Financial Officer, HGS. "This includes $100-120 million in ABthrax revenue that we expect to receive in late 2008."

HIGHLIGHTS OF RECENT PROGRESS

Albuferon(R): Treatment Phase of Both Phase 3 Trials Completed; Timeline on Track for Phase 3 Data and Filing of Marketing Applications

In July 2008, HGS completed the treatment phase of ACHIEVE 1, one of two Phase 3 trials of Albuferon (albinterferon alfa-2b) in combination with ribavirin in treatment-nave patients with chronic hepatitis C. The Company completed the treatment phase of ACHIEVE 2/3 in April 2008. ACHIEVE 1 is being conducted in patients with genotype 1 chronic hepatitis C; ACHIEVE 2/3 is being conducted in patients with genotypes 2 and 3 chronic hepatitis C. HGS remains on track to have ACHIEVE 2/3 data in December 2008 and ACHIEVE 1 data by spring 2009, with filing of global marketing applications by fall 2009. Albuferon is being developed by HGS and Novartis under an exclusive worldwide co-development and commercialization agreement entered into in June 2006.

LymphoStat-B(R): Enrollment of Patients into Screening Completed in Second Phase 3 Trial in Systemic Lupus Erythematosus; Timeline on Track for Phase 3 Data and Filing of Biologics License Application

HGS has completed the enrollment of patients into screening in BLISS-76, the second of two Phase 3 trials of LymphoStat-B (belimumab) in active systemic lupus erythematosus (SLE), and expects to complete randomization and initial dosing in the study in August 2008. The Company completed randomization and initial dosing in BLISS-52 in April 2008. The first Phase 3 data are expected by mid-2009, and all Phase 3 data to support r
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SOURCE Human Genome Sciences, Inc.
Copyright©2008 PR Newswire.
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