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Amylin Pharmaceuticals Reports Third Quarter Financial Results
Date:11/4/2010

SAN DIEGO, Nov. 4, 2010 /PRNewswire-FirstCall/ -- Amylin Pharmaceuticals, Inc. (Nasdaq: AMLN) today reported financial results for the quarter ended September 30, 2010. The Company reported total revenue of $156.1 million for the third quarter, including net product sales of $154.0 million. GAAP net loss for the quarter ended September 30, 2010 was $50.7 million, or $0.35 per share compared to $26.7 million, or $0.19 per share for the same period in 2009. Net loss excluding restructuring charges of $6.0 million was $44.7 million for the quarter ended September 30, 2010. Non-GAAP operating loss was $16.1 million for the quarter ended September 30, 2010 compared to non-GAAP operating income of $0.6 million for the same period in 2009. For the nine months ended September 30, 2010 non-GAAP operating loss was $27.3 million, a 34% improvement over the $41.6 million non-GAAP operating loss for the same period in 2009. At September 30, 2010 the Company held cash, cash equivalents and short-term investments of $537.7 million.

"While disappointed about the complete response letter for BYDUREON, we are more committed than ever to working closely with the FDA to bring this important therapy to people with type 2 diabetes as quickly as possible," said Daniel M. Bradbury, president and chief executive officer at Amylin Pharmaceuticals. "Our year-to-date reduction in non-GAAP operating loss reflects the financial discipline we have implemented across our organization. We are operating from a strong cash position and will continue to drive revenue from BYETTA and SYMLIN and control our expenses in order to deliver strong financial performance for our shareholders."

Third Quarter HighlightsHighlights of Amylin's third quarter and recent activities include:

  • Announced the U.S. Food and Drug Administration (FDA) issued a complete response letter regarding the New Drug Applicat
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  • SOURCE Amylin Pharmaceuticals, Inc.
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