Human Genome Sciences Announces Third Quarter 2008 Financial Results and Key De... (F http://www.hgsi.com/images/Q32008Resul...)

Human Genome Sciences Announces Third Quarter 2008 Financial Results and Key Developments

Date:11/6/2008

F="http://www.hgsi.com/images/Q32008Results/netcashburn.pdf" target="_new">http://www.hgsi.com/images/Q32008Results/netcashburn.pdf). As of September 30, 2008, cash and investments totaled $432.8 million, of which $360.3 million is unrestricted and available for operations. This compares with cash and investments totaling $603.8 million, of which $532.9 million was unrestricted and available for operations, as of December 31, 2007.

"Our cash position remains strong and is sufficient to take us through the availability of Phase 3 data and the filing of marketing applications for our lead products, while also fueling development of our product pipeline," said Tim Barabe, Senior Vice President and Chief Financial Officer, HGS. "We are updating our financial guidance to reflect the change in expected timing of ABthrax sales."

HIGHLIGHTS OF RECENT PROGRESS

Albuferon(R) on Track for First Phase 3 Data in December 2008

As of July 2008, treatment has been completed in both Phase 3 trials of Albuferon (albinterferon alfa-2b. HGS remains on track to have the first Phase 3 data for Albuferon - from the ACHIEVE 2/3 trial - in December 2008. ACHIEVE 2/3 is being conducted in patients with genotypes 2 and 3 chronic hepatitis C. Data from ACHIEVE 1, which is being conducted in patients with genotype 1 chronic hepatitis C, are expected by spring 2009. Assuming success in Phase 3, global marketing applications are planned 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) on Track for First Phase 3 Data in Mid-2009

As of August 2008, enrollment and initial dosing have been completed in both of the Phase 3 trials of LymphoStat-B (belimumab) in patients with active systemic lupus erythematosus (SLE). HGS expects to have the first Phase 3 data for LymphoStat-B by mid-2009, from the BLISS-52 trial, with results f
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Human Genome Sciences Announces Third Quarter 2008 Financial Results and Key De...(F http://www.hgsi.com/images/Q32008Resul...)