InterMune Reports Fourth Quarter and Full Year 2008 Financial Results and Business ... ( BRISBANE Calif. Feb. 26 /- InterM...)

InterMune Reports Fourth Quarter and Full Year 2008 Financial Results and Business Highlights

Date:2/26/2009

BRISBANE, Calif., Feb. 26 /PRNewswire-FirstCall/ -- InterMune, Inc. (Nasdaq: ITMN) today announced results from operations for the fourth quarter and 12 months ended December 31, 2008. InterMune reported a net loss for the fourth quarter of 2008 of $32.3 million, or $0.83 per share, compared with a net loss of $25.9 million, or $0.67 per share, in the fourth quarter of 2007.

Dan Welch, Chairman, Chief Executive Officer and President of InterMune said, "Fourth quarter and recent events have highlighted our very significant progress on pirfenidone and ITMN-191 (R7227). We recently reported results of our Phase 3 CAPACITY program for pirfenidone in idiopathic pulmonary fibrosis (IPF) and are now preparing the New Drug Application (NDA) and Marketing Authorization Application (MAA) for the United States and European Union, respectively. We also reported very positive top-line results of our triple combination study of ITMN-191 with Pegasys(R) (pegylated interferon alfa-2a) and Copegus(R) (ribavirin) and launched the innovative all-oral treatment study, INFORM-1, in patients chronically infected with the hepatitis C virus (HCV)."

Results for Fourth Quarter 2008

InterMune reported total revenue in the fourth quarter of 2008 of $7.4 million, compared with total revenue of $9.6 million in the fourth quarter of 2007. Total revenue in the fourth quarter of 2008 primarily consisted of Actimmune(R) (interferon gamma-1b) revenue of $6.6 million, compared with $8.8 million in the fourth quarter of 2007, a decrease of 25%, reflecting lower off-label physician prescriptions of Actimmune for the treatment of IPF, which InterMune does not promote. Fourth quarter total revenue also included revenue from the collaboration with Roche for the development of protease inhibitors, including ITMN-191, which totaled
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InterMune Reports Fourth Quarter and Full Year 2008 Financial Results and Business ...( BRISBANE Calif. Feb. 26 /- InterM...)