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Repligen Reports Fourth Quarter and Fiscal Year 2009 Financial Results
Date:6/11/2009

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"During the past year we have maintained a strong cash position and continued to advance our product development programs despite the global financial turmoil," stated Walter C. Herlihy, President and Chief Executive Officer of Repligen Corporation. "Over the next twelve months, we will continue to execute on our strategy to build a sustainable business through investment in the acquisition and development of innovative products that deliver significant value to patients, customers and our shareholders."

Total revenue for the fourth quarter of fiscal year 2009 was $4,594,000 compared to $3,301,000 for the same period in fiscal year 2008, an increase of 39%. Operating expenses for the fourth quarter of fiscal year 2009 were $7,809,000, compared to $7,165,000 for the same period in fiscal year 2008. Net loss for the fourth quarter 2009 was $2,693,000 or $0.09 per diluted share compared to a net loss of $3,198,000 or $0.10 per diluted share in the same period in fiscal year 2008.

Corporate Update

RG1068 for Imaging of the Pancreas

We are currently enrolling patients in a Phase 3 clinical trial of RG1068, synthetic human secretin, designed to assess the ability of RG1068 in combination with magnetic resonance imaging (MRI) to improve the detection of pancreatic duct abnormalities compared to MRI alone. Detailed visual assessment of the pancreatic ducts is important in the diagnosis and treatment of diseases such as acute and chronic pancreatitis. This study is being conducted at approximately 30 clinical sites within the U.S. and Canada and will enroll approximately 250 patients. We have made steady progress on enrollment and plan to complete this trial by the end of the year. The FDA has granted this program Fast Track Designation, a process designed to facilitate the development and expedite the review of drugs that treat serious diseases and fill an unmet med
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