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Amylin Pharmaceuticals Q2 Net Loss Narrows
Monday, July 27, 2009 6:51 AM


(Source: Datamonitor)trackingAmylin Pharmaceuticals has reported a net loss of $62.37 million, or $0.44 per share, for the quarter ended June 30, 2009, compared to a net loss of $66.59 million, or $0.49 per share, for the quarter ended June 30, 2008.

For the second quarter of 2009, total revenues were $209.37 million, compared to $222.02 million in the second quarter of 2008.

For the six months ended June 30, 2009, total revenues were $403.05 million, compared to $419.26 million in the same period of 2008. Net loss was $109.33 million, or $0.78 per share, compared to a net loss of $137.69 million, or $1.01 per share, in the same period of 2008.

Mark Foletta, senior vice president of finance and CFO at Amylin Pharmaceuticals, said: "We set a goal of becoming operating cash flow positive by the end of 2010, and we have taken considerable steps toward achieving that goal.

"In the last few quarters, we implemented a strategic restructuring and workforce reduction in order to bring operating expenses more in line with revenue, revised our cost allocation agreement with Lilly to create a more efficient global cost structure for the exenatide franchise and restructured our sales force to more efficiently leverage Lilly's expertise and resources for the primary care market."

A service of YellowBrix, Inc.



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