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Savient Pharmaceuticals Reports Third Quarter 2011 Financial Results
Date:11/3/2011

SVNT-ISAVIENT PHARMACEUTICALS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETSSeptember 30,
2011December 31,
2010(Unaudited)ASSETSCurrent Assets:Cash and cash equivalents$

154,773$

44,791Short-term investments47,93520,070Accounts receivable, net3,709909Inventories, net8,0043,140Prepaid expenses and other current assets5,2952,415Total current assets219,71671,325Deferred income taxes, net—4,200Property and equipment, net680809Deferred financing costs, net4,246—Other assets (including restricted cash)1,2801,284Total assets$

225,922$

77,618LIABILITIES AND STOCKHOLDERS' EQUITYCurrent Liabilities:Accounts payable$

6,947$

1,601Deferred revenues335428Deferred income taxes5,769—Accrued interest on convertible notes1,912—Other current liabilities14,86116,023Total current liabilities29,82418,052Convertible notes, net of discount of $56,155173,845—Other liabilities3,41210,299Commitments and contingenciesStockholders' Equity:Preferred stock—$.01 par value 4,000,000 shares authorized; no shares issued——Common stock—$.01 par value 150,000,000 shares authorized; 71,473,000 issued and outstanding at
September 30, 2011 and 70,259,000 shares issued and outstanding at December 31, 2010715703Additional paid-in-capital404,873364,139Accumulated deficit(386,747)(315,576)Accumulated other comprehensive income—1Total stockholders' equity18,84149,267Total liabilities and stockholders' equity$

225,922$

77,618SAVIENT PHARMACEUTICALS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In thousands, except per share data)Three Months Ended
September 30,Nine Months Ended
September 30,2011201020112010Revenues:Product sales, net$

2,581$

988$

5,855$

3,068Cost and expenses:Cost of goods sold4,5844216,008998Research
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SOURCE Savient Pharmaceuticals, Inc.
Copyright©2010 PR Newswire.
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