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Human Genome Sciences Reports Substantial Progress Toward Commercialization and Announces 2009 Goals at JPMorgan Healthcare Conference
Date:1/12/2009

osis pathway, and three randomized chemotherapy combination trials are currently underway to evaluate its potential in the treatment of advanced multiple myeloma, non-small cell lung cancer, and hepatocellular cancer.

In May 2008, HGS initiated dosing in a Phase 1 clinical trial to evaluate the safety and tolerability of its lead IAP inhibitor, HGS1029, as monotherapy in patients with advanced solid tumors. Results of this study will also help identify the recommended dose for Phase 2 trials. The IAP inhibitors are a novel class of compounds that block the activity of IAP (inhibitor of apoptosis) proteins, thus allowing apoptosis to proceed and causing the cancer cells to die. When IAP proteins are over-expressed in cancer cells, they can help cancer cells resist apoptosis and resume growth and proliferation.

FINANCIAL GUIDANCE

During his presentation to the JPMorgan Healthcare Conference, Mr. Watkins will present the following guidance regarding the financial results expected by HGS for the full years 2008 and 2009:

  • HGS expects 2009 net cash burn of less than $25 million, compared with approximately $245 million in 2008.
  • Revenue is expected to increase to $250 million or higher in 2009, from $48 million in 2008.
    • This includes at least $150 million from sale of 20,000 doses of ABthrax.
  • HGS expects cash and investments at year-end 2009 to total approximately $340 million, compared with approximately $365 million at the end of 2008.

PRESENTATION TO BE WEBCAST

Mr. Watkins' presentation to the 27th Annual JPMorgan Healthcare Conference will be webcast and may be accessed at www.hgsi.com. The presentation is scheduled to begin on January 14, 2009 at 7:30 AM Pacific or 10:30 AM Eastern
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SOURCE Human Genome Sciences, Inc.
Copyright©2009 PR Newswire.
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