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Amylin Pharmaceuticals Reports Third Quarter Financial Results
Date:10/20/2009

SAN DIEGO, Calif., Oct. 20 /PRNewswire-FirstCall/ -- Amylin Pharmaceuticals, Inc. (Nasdaq: AMLN) today reported financial results for the quarter ended September 30, 2009. The Company reported total revenue of $211.2 million for the third quarter, including net product sales of $192.9 million. Non-GAAP operating income was $0.6 million for the quarter ended September 30, 2009 compared to non-GAAP operating loss of $32.7 million for the same period in 2008. Net loss for the quarter ended September 30, 2009 was $26.7 million, or $0.19 per share compared to $79.0 million, or $0.58 per share for the same period in 2008. Net loss for the quarter ended September 30, 2008 included a loss on impairment of investments of $14.9 million, or $0.11 per share. At September 30, 2009 the Company held cash, cash equivalents and short-term investments of $619.7 million.

"We continue to make substantial progress toward our goal of becoming operating cash flow positive on a sustainable basis by the end of 2010, and have generated positive cash flow in the third quarter," said Mark G. Foletta, senior vice president of finance and chief financial officer at Amylin Pharmaceuticals. "Over the next few quarters we will make incremental investments to successfully launch exenatide once weekly, which will lead to variability in our operating results, but we expect to achieve sustainable positive operating cash flow by the end of next year."

Quarter Ended September 30, 2009

Net product sales of $192.9 million for the quarter ended September 30, 2009 include $171.1 million for BYETTA® (exenatide) injection and $21.8 million for SYMLIN® (pramlintide acetate) injection. This compares to net product sales of $201.4 million consisting of $179.9 million for BYETTA and $21.5 million for SYMLIN for the same period in 2008. Revenues
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SOURCE Amylin Pharmaceuticals, Inc.
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