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InterMune Reports First Quarter 2009 Financial Results and Business Highlights
Date:4/30/2009

INFORM-1.

Financial; Further Strengthening the Balance Sheet

  • On February 19, 2009, InterMune completed a follow-on public offering of 4,025,000 shares of common stock, including the underwriters' over-allotment, at an offer price of $16.35 per share. Net proceeds to InterMune were approximately $63.4 million after deduction of underwriting fees and other related expenses.
  • On April 3, 2009, InterMune reported that it would retire approximately $32.3 million of its .25% Convertible Senior Notes due 2011 by exchanging Notes held by certain of its debt holders for shares of the company's common stock. A total of approximately 2.1 million shares of common stock have been issued in connection with the transaction.

2009 Key Project Guidance

The company provided the following guidance on its key development projects, pirfenidone and ITMN-191.

    PIRFENIDONE
        Milestones and Key Events                             Expected  Date

    -- Presentation of CAPACITY results at ATS                  May 19
    -- Submission of pirfenidone NDA to FDA                     Summer
    -- Submission of pirfenidone MAA to EMEA                    Year-End


    ITMN-191
        Milestones and Key Events                             Expected  Date

    -- Phase 2b initiation by Roche ($20 million
        payment to InterMune)                                   Summer 2009
    -- Presentation of additional cohorts of INFORM-1
        at AASLD                                                Q4, 2009 *
    -- Rapid Viral Response (RVR) data from Phase 2b
        (12-week regimen)                                       Q4'09 or Q1'10
    * Subject to acceptance of scientific abstract

Guidance for 2009 Revenue and Expenses

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SOURCE InterMune, Inc.
Copyright©2009 PR Newswire.
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