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InterMune Reports Fourth Quarter And Full Year 2012 Financial Results And Business Highlights
Date:2/21/2013

&D) expenses in the fourth quarter of 2012 were $32.0 million, compared with $21.0 million in the fourth quarter of 2011, an increase of 52 percent.  R&D expenses were $106.6 million for the full year 2012, compared with $75.0 million in 2011, an increase of 42 percent.  Higher R&D expenses in both the three- and 12-month periods of 2012, compared with the same periods in 2011, primarily reflect expenses related to conduct of the ASCEND trial, which was initiated in July 2011.  

Selling, general and administrative (SG&A) expenses were $29.6 million in the fourth quarter of 2012, compared with $26.8 million in the same quarter of 2011, an increase of 10 percent.  SG&A expenses were $105.3 million in the full year 2012, an increase of 18 percent from $89.5 million in 2011.  The increased spending for the 12 months of 2012, compared with 2011, is primarily attributable to the creation of InterMune's European infrastructure and investments in the launch and pre-launches of Esbriet in nine European countries and Canada.

Net loss for the fourth quarter of 2012 was $58.6 million, or $0.90 per share, compared with a net loss of $44.5 million, or $0.69 per share, in the same quarter of 2011.  Per share amounts in the fourth quarter included gains from the role of Actimmune® (interferon gamma-1b) in discontinued operations of $0.01 per share and $0.04 per share in 2012 and 2011, respectively. 

Net loss for the full year 2012 was $150.1 million, or $2.30 per share, compared with a net loss of $154.8 million, or $2.58 per share, in 2011.  Per share amounts for the full year included gains from the role of Actimmune in discontinued operations of $0.52 per share and $0.12 per share in 2012 and 2011, respectively.As a result of the June 19, 2012 divestiture of Actimmune, historical Actimmune revenue, cost of goods sold, operating costs, and tax impact are reported in discontinued ope
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SOURCE InterMune, Inc.
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