Navigation Links
Savient Pharmaceuticals Reports Second Quarter 2012 Financial Results
Date:8/8/2012

EAST BRUNSWICK, N.J., Aug. 8, 2012 /PRNewswire/ -- Savient Pharmaceuticals, Inc. (NASDAQ: SVNT) today reported financial results for the three and six months ended June 30, 2012, which reflects the Company's continuing commercialization of KRYSTEXXA® (pegloticase) in the U.S.

Savient ended the quarter with approximately $142.2 million in cash and short-term investments, a net increase of $11.2 million for the quarter.  The increase in cash and short-term investments was primarily driven by the Company entering into definitive financing and restructuring agreements with certain of its 2018 convertible note-holders during the quarter, which raised approximately $43.1 million in net cash proceeds.

Net sales for KRYSTEXXA were $4.0 million for the second quarter of 2012, a 30% increase over the first quarter of 2012.  For the second quarter of 2012, the Company had a net loss of $16.4 million, or $0.23 per share, on total revenues of $4.6 million, compared with a net loss of $30.2 million, or $0.43 per share, on total revenues of $2.0 million for the same period in 2011.  The net loss for the first six months of 2012 was $50.6 million, or $0.72 per share, on total revenues of $8.2 million, compared with a net loss of $43.8 million, or $0.63 per share, on total revenues of $3.3 million for the same period in 2011. The net loss for the three and six-month periods ended June 30, 2012 includes a $21.8 million, or $0.31 per share, gain on the extinguishment of debt.

"We are confident in our plan, which builds upon the foundation we have established and the long term opportunity for KRYSTEXXA," said Louis Ferrari, Chief Executive Officer and President.  "To achieve that goal, we have implemented our reorganization plan and have put cost control initiatives in place that we believe will support future growth opportunities.  We
'/>"/>

SOURCE Savient Pharmaceuticals, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9

Related biology technology :

1. Auxilium Pharmaceuticals, Inc. to Present at the Canaccord Genuity 32nd Annual Growth Conference
2. UCF nanoparticle discovery opens door for pharmaceuticals
3. Cadence Pharmaceuticals Reports Second Quarter 2012 Financial Results
4. Inspiration Biopharmaceuticals Expands Industry Expertise with Five New Executive Hires
5. Optimer Pharmaceuticals Reports Second Quarter 2012 Financial Results
6. MAP Pharmaceuticals, Inc. Announces Proposed Public Offering of Common Stock
7. Global Biopharmaceuticals Market 2011-2015
8. Patient Advocate Foundation and Jazz Pharmaceuticals Announce Partnership for Narcolepsy CareLine
9. Convergence Pharmaceuticals Announces Successful Completion of Phase I for CNV2197944 and Plans Phase II Studies in Neuropathic Pain
10. Oramed Pharmaceuticals Granted 2nd Patent in New Zealand; 3rd Patent for Core Technology on Oral Delivery of Proteins
11. Keryx Biopharmaceuticals to Present at The 7th Annual JMP Securities Healthcare Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/22/2014)... Dec. 22, 2014  Alternative Energy & Environmental ... has signed a letter of intent to acquire ... and patented a nanotechnology-based development platform used to ... enable rapid on-site collection and testing to identify ... issues in an immediate, non-invasive and cost-effective manner. ...
(Date:12/22/2014)... ITRA Global, one of the largest organizations ... estate, has further expanded its global reach with the ... Western Australia, reports Mylinda Vick, CCIM, Chairman of the ... / ACORPP (Australian Corporate Property and Projects) , is ... services to a wide range of clients in the ...
(Date:12/19/2014)... BioPlus Specialty Pharmacy (BioPlus), one of ... Nick Maroulis, Pharm.D. to the newly created position of ... this position, Dr. Maroulis will continue to manage the ... our multi-site pharmacies as the company expands. Dr. Maroulis ... time he has served in many different capacities in ...
(Date:12/19/2014)... -- Decision Resources Group finds that the Latin American ... compound annual growth rate through 2023. This is primarily ... increasing adoption of dental implants. Growing aesthetic consciousness in ... demand for dental biomaterials because they can improve the ... Other key findings from Decision Resources Group,s coverage ...
Breaking Biology Technology:ALNE Announces Intention To Acquire BioTechPharma 2ITRA Global Continues International Expansion in Perth and Brisbane, Australia 2BioPlus Specialty Pharmacy Promotes Dr. Nick Maroulis to Vice President of Specialty Pharmacy Services 2Latin American Dental Biomaterial Market Will Expand at a 12 Percent Annual Growth Rate Through 2023 2Latin American Dental Biomaterial Market Will Expand at a 12 Percent Annual Growth Rate Through 2023 3
... , PRINCETON, N.J. and SAN DIEGO, July ... company committed to research and product discovery for the ... pharmacokinetic data and results from two Phase I pharmacokinetic ... the treatment of HIV. These data suggest that ...
... , , ROCKVILLE, Md., July 21 ... appointment of John J. Trizzino as Senior Vice President, International ... Trizzino will report directly to Dr. Rahul Singhvi, Novavax,s President ... managing the company,s international alliances with pharmaceutical companies and all ...
... NEW YORK, July 21 ... AOB ), ("the Company" or "AOBO"), a pharmaceutical,company ... and,commercialization of a broad range of prescription and ... that AOBO was honorably elected as one of,the ...
Cached Biology Technology:Tobira Therapeutics Inc. Announces Phase I Data Demonstrating Pharmacokinetic Properties of TAK-652 for the Treatment of HIV 2Novavax Announces Appointment of John J. Trizzino as Senior Vice President, International and Government Alliances 2American Oriental Bioengineering Honorably Elected a Top 20 Most Competitive Public Pharmaceutical Company in China 2
(Date:12/17/2014)... 2014 Valencell, a leader in performance biometric ... to industry leaders such as Intel, Jabra, Atlas, and ... wearable products. These products will be showcased at CES ... Vegas . "Our partners choose ... robust – with the clinical data to back it ...
(Date:12/11/2014)... Research and Markets , ... http://www.researchandmarkets.com/research/9ql3kr/biometrics_market ) has announced the addition of the ... to their offering. One major ... of multimodal biometric systems. Multimodal biometric systems utilize ... verification and identification purposes. This helps to reduce ...
(Date:12/10/2014)...  Wake Forest Baptist Medical Center today announced plans for ... Medicine. Funding for this $50 million capital project is ... publicly launched next summer. The medical ... series R.J. Reynolds Tobacco Company complex, adjacent to 525@vine ... with plans to be ready to welcome medical students ...
Breaking Biology News(10 mins):Valencell PerformTek Biometrics Power the Most Accurate Wearables at CES 2015 2Biometrics Market in India 2015-2019: Key Vendors are 3M Cogent, NEC, Safran and Suprema 2Wake Forest Baptist to Build New Medical Education Facility In Wake Forest Innovation Quarter 2Wake Forest Baptist to Build New Medical Education Facility In Wake Forest Innovation Quarter 3Wake Forest Baptist to Build New Medical Education Facility In Wake Forest Innovation Quarter 4
... the light of growing concerns about the separation of ... power of big supermarkets, new research funded by Economic ... the motivations and practices of consumers and producers involved ... as organic vegetable boxes, community gardens and farm animal ...
... that folic acid supplements can dramatically lower blood ... drinking water. Arsenic is a toxic element ... water. Arsenic-contaminated drinking water is currently a ... countries, including several developing countries and also parts ...
... environment may be interacting with the genes in your ... a new field of science called toxicogenomics. A ... Sciences (NAS) recognizes the importance of toxicogenomics in predicting ... toxicogenomics into regulatory decision making. The NAS report ...
Cached Biology News:Alternative food networks connect ethical producers and consumers and can lead to healthier eating 2Folic acid lowers blood arsenic levels in Bangladesh 2Folic acid lowers blood arsenic levels in Bangladesh 3NAS report offers new tools to assess health risks from chemicals 2
Request Info...
FluoSpheres® biotin-labeled microspheres, 1.0 µm, yellow-green fluorescent (505/515) *1% solids*...
The epitope is specific for TASK and is not present in any other known proteins tested so far.,SPECIES REACTIVITIES: The epitope is also highly conserved between mouse and rat (17/18 residues iden...
Rat Antibody to Kinase Suppressor Of Ras Recognises the kinase suppressor of Ras (KSR). Immunogen: Recombinant human KSR protein Specificity: human kinase supressor of Ras...
Biology Products: