Human Genome Sciences Announces Second-Quarter 2009 Financial Results and Key De... ( ...)

Human Genome Sciences Announces Second-Quarter 2009 Financial Results and Key Developments

Date:7/22/2009

ROCKVILLE, Md., July 22 /PRNewswire-FirstCall/ -- Human Genome Sciences, Inc. (Nasdaq: HGSI) today announced financial results for the quarter ended June 30, 2009, and provided highlights of recent key developments.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080416/HGSLOGO )

"Both BENLYSTA(TM) and ZALBIN(TM) (formerly Albuferon(R)) continued to make excellent progress toward commercialization in the second quarter of 2009," said H. Thomas Watkins, President and Chief Executive Officer. "Results of the first of two pivotal Phase 3 trials of BENLYSTA demonstrated that BENLYSTA has the potential to become the first new approved drug in decades for people living with systemic lupus. We and GlaxoSmithKline are on track to have data from our second Phase 3 trial of BENLYSTA in November 2009. We and Novartis have completed our pre-submission meetings with the FDA and European regulatory agencies, and are on track for submission of global marketing applications for ZALBIN in fall 2009. We also received our second order from the U.S. Government for raxibacumab, and expect $151 million from this award over the next three years as deliveries are completed."

FINANCIAL RESULTS

HGS reported that revenues for the quarter ended June 30, 2009, increased to $26.7 million, compared with revenues of $11.6 million for the same period in 2008. Revenues included $8.9 million recognized upon completion of delivery of raxibacumab (ABthrax(TM)) to the U.S. Strategic National Stockpile, $8.9 million recognized from the ZALBIN agreement with Novartis, $7.2 million recognize
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