EmailStory Stocks®
Archive
Last Update: 09-Jan-12 10:09 ET
Human Genome Trades Higher After Co Updates BENLYSTA Commericalization Details, Guides FY11/12
Human Genome (HGSI $7.88 +0.16) is trading higher this morning after updating BENLYSTA commericalization details; announces downsizing; guides FY11/12 R&D/ SG&A.
Estimated BENLYSTA gross sales totaled $29.1 million in Q4. After gross-to-net adjustments of $3.4 million, estimated net sales of BENLYSTA in the fourth quarter totaled $25.7 million. During the fourth quarter, estimated BENLYSTA average weekly gross sales for the first four weeks were $2.3 million, followed by average weekly gross sales of $2.1 million and $2.5 million for the second and third four-week periods, respectively.
The company today announced that it is eliminating ~150 positions and reducing spending to reflect current program and business requirements. Positions across the co were affected, including manufacturing, R&D and administration... HGS expects cash and investments at year-end 2011 to total between ~$875 million and $885 million, compared with $933.4 million at year-end 2010. R&D expense is expected to total between ~$195 million and $205 million in 2011, and between ~$150 million and $180 million in 2012. SG&A expense is expected to total between ~$155 million and $165 million in 2011, and between ~$160 million and $180 million in 2012.
Estimated BENLYSTA gross sales totaled $29.1 million in Q4. After gross-to-net adjustments of $3.4 million, estimated net sales of BENLYSTA in the fourth quarter totaled $25.7 million. During the fourth quarter, estimated BENLYSTA average weekly gross sales for the first four weeks were $2.3 million, followed by average weekly gross sales of $2.1 million and $2.5 million for the second and third four-week periods, respectively.
The company today announced that it is eliminating ~150 positions and reducing spending to reflect current program and business requirements. Positions across the co were affected, including manufacturing, R&D and administration... HGS expects cash and investments at year-end 2011 to total between ~$875 million and $885 million, compared with $933.4 million at year-end 2010. R&D expense is expected to total between ~$195 million and $205 million in 2011, and between ~$150 million and $180 million in 2012. SG&A expense is expected to total between ~$155 million and $165 million in 2011, and between ~$160 million and $180 million in 2012.
