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Human Genome Sciences Announces Fourth-Quarter and Full-Year 2008 Financial Results and Key Developments
Date:2/26/2009

- Positive results for first Albuferon(R) Phase 3 trial announced in December 2008; data from second trial expected March 2009 -

- Phase 3 trials of darapladib for cardiovascular disease and Syncria(R) for type 2 diabetes initiated by GlaxoSmithKline (GSK) -

- $106 million of convertible debt repurchased for $50 million in cash -

- 2009 revenue expected to grow to $250 million; at least $150 million from delivery of ABthrax(TM) to Strategic National Stockpile -

ROCKVILLE, Md., Feb. 26 /PRNewswire-FirstCall/ -- Human Genome Sciences, Inc. (Nasdaq: HGSI) today announced financial results for the quarter and full year ended December 31, 2008, and provided highlights of recent key developments.

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

"HGS continues to make substantial progress toward the commercialization of our late-stage products," said H. Thomas Watkins, President and Chief Executive Officer. "With initiation of the delivery of ABthrax to the Strategic National Stockpile in late January, we achieved the first product sales in our history -- and ABthrax will generate at least $150 million in revenue in early 2009. In December 2008, we reported our company's first Phase 3 results for Albuferon in chronic hepatitis C, and the data were positive. We will have results of the second Albuferon Phase 3 trial in March 2009, and the results of our two Phase 3 trials of LymphoStat-B in July and November 2009. GlaxoSmithKline has advanced both darapladib for cardiovascular disease and Syncria for type 2 diabetes to Phase 3 development, and we have substantial financial rights to both of these promising products. We continue to have a stro
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SOURCE Human Genome Sciences, Inc.
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