Human Genome Sciences’ 4th-quarter loss narrows on revenue boost from government, Novartis

Human Genome 4Q loss narrows on revenue boost

ROCKVILLE, Md. — Human Genome Sciences Inc. said Tuesday its fourth-quarter loss narrowed on boost from partnership payments and sales of the inhaled anthrax treatment ABthrax to the U.S. government.

The company lost $9.7 million, or 6 cents per share, compared with a loss of $61.9 million, or 46 cents per share, a year earlier. Revenue surged to $53 million from $12.9 million.

Analysts polled by Thomson Reuters expected a loss of 10 cents per share on revenue of $50.7 million.

During the quarter, the company had $27.6 million in revenue from Novartis as part of their collaboration on the potential hepatitis C treatment Zalbin. The company also had $17.7 million in sales and deliveries of ABthrax and $5.3 million from manufacturing and development services.

Also, the company reported $1 million from GlaxoSmithKline for the partnership on the potential lupus drug Benlysta. Human Genome said it is on track to ask the Food and Drug Administration for Benlysta approval in the second quarter.

For the full year, the company earned $5.7 million, or 4 cents per share, compared with a loss of $268.9 million, or $1.99 per share, in 2008. Revenue rose to $275.7 million from $48.2 million.

Shares of Human Genome Sciences slipped 26 cents to $29.83 in after-hours trading after rising 26 cents to close at $30.09 during the regular trading session.