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InterMune Reports Third Quarter 2010 Financial Results
Date:10/28/2010

mann-La Roche Ltd. for $175 million in cash.  In connection with this transaction, the collaboration agreement that InterMune and Roche entered into in October 2006 has been terminated.  As a result of this transaction, InterMune will make no further investment in danoprevir and, including net proceeds from the transaction, the company currently expects to have a cash balance of approximately $290 million at the end of 2010.
  • InterMune and Roche are actively exploring ways to continue their collaboration in HCV by working together on the HCV research programs of InterMune.

  • Third Quarter and First Nine Months 2010 Financial Results (Unaudited)InterMune reported total revenue in the third quarter of 2010 of $5.7 million, compared with $27.3 million in the third quarter of 2009.  Third quarter 2009 revenue included a $20.0 million milestone payment from Roche associated with initiation of a Phase 2b clinical trial of danoprevir in patients chronically infected with HCV.  Total revenue for the first nine months of 2010 was $17.6 million, compared with $42.1 million in the first nine months of 2009.  Total revenue in both the three- and nine-month periods of 2010 reflect lower off-label physician prescriptions of Actimmune® (gamma interferon-1b) for the treatment of IPF, which InterMune does not promote.Research and development (R&D) expenses in the third quarter of 2010 were $15.6 million compared with $20.6 million in the third quarter of 2009, a decrease of 24 percent.  R&D expenses were $50.8 million for the nine months ended September 30, 2010, compared with $68.0 million in 2009, a decrease of 25 percent.  Lower R&D expenses in both periods reflect completion of the CAPACITY clinical trials in early 2009 and the timing of clinical studies of danoprevir in patients chronically infected with HCV.  

    General and administrative (G&A) expenses were $10.9 million in the
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    SOURCE InterMune, Inc.
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