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InterMune Reports Third Quarter 2012 Financial Results And Business Highlights
Date:11/7/2012

t of the ASCEND trial, which was initiated in July 2011.  

Selling, general and administrative (SG&A) expenses were $23.8 million in the third quarter of 2012, relatively unchanged from $23.7 million in the same quarter of 2011.  SG&A expenses were $75.7 million in the first nine months of 2012, an increase of 21 percent from $62.7 million in the comparable nine-month period of 2011.  The increased spending for the nine-month period in 2012, compared with the same period in 2011, is primarily attributable to the creation of InterMune's European infrastructure and investments in the launch and pre-launches of Esbriet in Germany and other European countries.

Net loss for the third quarter of 2012 was $45.4 million, or $0.70 per share, compared with a net loss of $38.2 million, or $0.63 per share, in the same quarter of 2011.  Net loss for the first nine months of 2012 was $91.5 million, or $1.41 per share, compared with a net loss of $110.2 million, or $1.88 per share, in the first nine months of 2011.  Per share amounts in the first nine months included gains from the role of Actimmune® (interferon gamma-1b) in discontinued operations of $0.82 per share and $0.14 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 and operating costs are reported in discontinued operations in this and future financial statements and therefore do not appear in the comparisons above regarding on-going operations.

As of September 30, 2012, InterMune had cash, cash equivalents and available-for-sale securities of approximately $351.4 million.

Guidance for 2012 Revenue and Expenses
Considering the proximity to year-end 2012, the company today provided greater precision regarding its forward-looking guidance for Esbriet revenue and operating expense guidance for 2012:

  • Esbriet revenue: currently anticipat
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  • SOURCE InterMune, Inc.
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