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Amylin Pharmaceuticals Reports First Quarter Financial Results
Date:4/18/2011

drive efficiencies in our business.

Research and development expenses decreased to $41.9 million for the quarter ended March 31, 2011, compared to $45.3 million for the same period in 2010. The decrease reflects our reduced cost structure partially offset by increased development spending on our lipodystrophy development program.  

Collaborative profit sharing, which represents Lilly's share of the gross margin for BYETTA, was $59.9 million for the quarter ended March 31, 2011, compared to $67.9 million for the same period in 2010.

Non-GAAP operating loss was $3.2 million for the quarter ended March 31, 2011, compared to non-GAAP operating loss of $3.8 million for the same period in 2010. GAAP net loss was $37.3 million, or $0.26 per share for the quarter ended March 31, 2011, compared to $38.2 million, or $0.27 per share for the same period in 2010. Net loss excluding restructuring charges was $34.5 million, or $0.24 per share for the quarter ended March 31, 2011, compared to $38.2 million, or $0.27 per share for the same period in 2010.  

Conference Call Amylin will webcast its Quarterly Update Call today at 8:30 a.m. ET/5:30 a.m. PT. Daniel M. Bradbury, Amylin's president and chief executive officer, will lead the call. During the call, the Company plans to provide further details underlying its first quarter financial results. A slide presentation accompanying the conference call is available through the "Investors" section of Amylin's corporate website at www.amylin.com.

To access the webcast, please log on to the "Investors" section of Amylin's corporate website at www.amylin.com approximately fifteen minutes prior to the call to register, download and install any necessary audio software. For those without access to the Internet, the live call may be accessed by phone by calling (800) 857-5738 (U.S./Canada) or (415) 228-4970 (international
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SOURCE Amylin Pharmaceuticals, Inc.
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