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Savient Pharmaceuticals Reports Fourth Quarter and Year-End 2012 Financial Results
Date:3/19/2013

ries, net4,32510,924Prepaid expenses and other current assets4,3674,186Total current assets109,314189,635Property and equipment, net2,050833Deferred financing costs, net4,9694,068Restricted cash and other assets2,8732,580Total assets$

119,206$

197,116LIABILITIES AND STOCKHOLDERS' DEFICITCurrent Liabilities:Accounts payable$

3,435$

7,046Deferred revenues580414Warrant liability2,935—Accrued interest3,1504,643Other current liabilities21,51617,962Total current liabilities31,61630,065Convertible notes, net of discount of $25,354 at December 31, 2012 and

 $54,542 at December 31, 201197,087175,458Senior secured notes, net of discount of $45,114 at December 31, 2012125,827—Other liabilities2,9733Stockholders' Deficit:Preferred stock—$.01 par value 4,000,000 shares authorized; no shares issued——Common stock—$.01 par value 150,000,000 shares authorized; 73,083,000

 issued and outstanding shares at December 31, 2012 and 71,502,000 issued

 and outstanding shares at December 31, 2011731715Additional paid-in-capital397,191408,463Accumulated deficit(535,915)(417,603)Accumulated other comprehensive (loss) income(304)15Total stockholders' deficit(138,297)(8,410)Total liabilities and stockholders' deficit$

119,206$

197,116 

 SAVIENT PHARMACEUTICALS, INC.CONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except per share data) Three-Months Ended
December 31,Twelve-Months EndedDecember 31,2012201120122011Revenues:Product sales, net$

4,947$

3,710$

18,023$

9,565Cost and expenses:Cost of goods sold9,7133,30522,3829,313Research and development5,4917,47526,23824,790Selling, general and administrative16,49528,13788,50190,89831,69938,917137,121125,001Operating loss(26,752)(35,207)(119,098)(115,436)Investment income, net3943164150Interest expense on debt(6,930)(4,515)(23,892)(16,357)Gain on extinguishment of
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SOURCE Savient Pharmaceuticals, Inc.
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