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Human Genome Sciences Announces Third Quarter 2007 Financial Results and Key Developments
Date:11/1/2007

priority, and we have made excellent progress through a combination of increased revenues, clinical development cost-sharing and spending controls."

THIRD QUARTER 2007 FINANCIAL RESULTS

For the quarter ended September 30, 2007, HGS reported increased revenues of $11.1 million, compared with revenues of $6.7 million for the same period in 2006. This included $7.8 million in revenue recognized from the Albuferon agreement with Novartis, and $1.6 million in revenue recognized from the LymphoStat-B agreement with GlaxoSmithKline (GSK). The Company reported a net loss of $67.3 million ($0.50 per share) for the quarter ended September 30, 2007, compared with a net loss for the third quarter of 2006 of $60.8 million ($0.46 per share).

For the first nine months of 2007, HGS reported increased revenues of $29.3 million compared with revenues of $15.7 million for the same period of the previous year. Revenues for the first nine months included $19.2 million in revenue recognized from the Albuferon agreement with Novartis and $4.9 million in revenue recognized from the LymphoStat-B agreement with GSK. The Company reported a net loss of $169.6 million ($1.26 per share) for the nine months ended September 30, 2007, compared with a net loss of $184.2 million ($1.40 per share) for the same period of the previous year.

As of September 30, 2007, cash and investments totaled $688.8 million, of which $620.0 million is unrestricted and available for operations. This compares with cash and investments totaling $763.1 million, of which $701.9 million was unrestricted and available for operations, as of December 31, 2006.

HIGHLIGHTS OF RECENT PROGRESS

Albuferon: Enrollment of Phase 3 Trials Completed Two Months Ahead of Schedule

In a separate press release issued this morning, HGS announced that it has completed enrollment two months ahead of schedule in ACHIEVE 2/3, the second of two pivotal Phase 3 trials of Albuferon (albinterferon alfa-2b) in
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SOURCE Human Genome Sciences, Inc.
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