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Amylin Pharmaceuticals Reports First Quarter Financial Results

GAAP operating loss $(45,550) $(70,137) Stock-based compensation 10,954 14,054 Other non-cash compensation 7,086 6,646 Depreciation and amortization 8,722 6,486 Amortization of deferred revenue (1,071) (1,071) ----------------------------- Non-GAAP operating loss $(19,859) $(44,022) =============================

A reconciliation of reported GAAP research and development expenses to non-GAAP research and development expenses, net of cost-sharing payments, is provided in the table that follows (in thousands, unaudited):

                                                Quarter ended March 31,
                                                 2009          2008
                                             -----------    -----------
    Research and development expenses          $60,019        $77,206
    Cost-sharing payments                      (13,271)       (17,445)
                                             -----------    -----------
    Non-GAAP research and development
     expenses                                  $46,748        $59,761
                                             ===========    ===========

                          AMYLIN PHARMACEUTICALS, INC.
                                 (in thousands)
                                                    March 31,   December 31,
                                                      2009          2008
       Cash, cash equivalents and short-term
SOURCE Amylin Pharmaceuticals, Inc.
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