Human Genome Sciences has reported that the net loss for the second quarter ended June 30, 2009, decreased to $65.4 million or $0.48 per share, compared to a net loss of $80.1 million or $0.59 per share in Q2, 2008.
The company has reported that the revenues for the second quarter ended June 30, 2009, increased to $26.7 million, as compared to revenues of $11.6 million for the same period in 2008.
The company, for the first six months of 2009, reported revenues of $204 million, as compared to revenues of $23.8 million for the same period of the previous year. Net income for the six months ended June 30, 2009, was $64.4 million or $0.47 per share, as compared to a net loss of $132.8 million or $0.98 per share for the same period of the previous year.
Tim Barabe, senior vice president and chief financial officer of HGS, said: “The second quarter of 2009 saw substantial progress. Revenues increased substantially over the same quarter of 2008. Our cash position remains strong, and continues to be sufficient to take us through the availability of Phase 3 data, the filing of marketing applications and the launch of our late-stage products.”