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BioMarin Announces Second Quarter 2011 Financial Results
Date:7/28/2011

$15

$14 to $18Selected Income Statement Guidance ($ in millions)Item

2011 Guidance

Previous 2011 GuidanceCost of Sales (% of Total Revenue)

Unchanged

18% to 20%Selling, General and Admin. Expense

Unchanged

$164 to $174Research and Development Expense

$200 to $205

$195 to $205Amortization and Contingent Consideration

$2

$15Interest Income

Unchanged

$3Income Tax Expense (Benefit)

$14

$15GAAP Net Income (Loss)

$(43) to $(33)

$(52) to $(42)Stock Compensation Expense

$45

$43Non-GAAP Adjusted EBITDA

$49 to $59

$51 to $61Anticipated Upcoming Milestones3Q 2011/4Q 2011: Top-line results for Phase II trial for PEG-PAL, including daily dosing and formulation studies
1Q 2012/2Q 2012: Initiation of Phase III trial for PEG-PAL
1Q 2012: Initiation of Phase I trial for BMN-111 for Achondroplasia
2H 2012: Top-line results for Phase III trial for GALNS for MPS IVA
2H 2012: Top-line results for PKU-016 Kuvan neurocognitive study
2H 2012: Top-line results for Phase I/II trial for BMN-701 for Pompe disease
4Q 2012/1Q 2013: Market authorization application filings for GALNS for MPS IVA
1Q 2013-3Q 2013: 510k clearance and commercial availability of the handheld blood Phe monitor for PKU

Research and Development ProgramsBioMarin continues to make significant investments in research and development to ensure persistent growth of the company.  The current pipeline includes programs in various stages of development that are focused on treating a range of serious unmet medical needs.Advanced Clinical Programs

  • GALNS for MPS IVA: BioMarin is enrolling patients in the randomized, double-blind, placebo-controlled Phase III study with primary endpoint of six-minute walk distance, 24 weeks in treatment duration and treatment doses of two mg/kg/week and two mg/kg/every other week.  The company exp
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