A live webcast of the conference call and accompanying slides will be accessible through the Investors section of the Company’s website at www.amagpharma.com beginning at 8:00 a.m. ET. Following the conference call, the webcast replay will be available at approximately 10:00 a.m. ET and will be archived on the AMAG Pharmaceuticals, Inc. website until midnight August 26, 2012.
In the United States, Feraheme® (ferumoxytol) Injection for Intravenous (IV) use is indicated for the treatment of iron deficiency anemia in adult chronic kidney disease (CKD) patients. Feraheme received marketing approval from the U.S. Food and Drug Administration on June 30, 2009 and was commercially launched by AMAG in the U.S. shortly thereafter. Ferumoxytol received marketing approval in Canada in December 2011 and in the European Union in June 2012. For additional product information, please visit www.feraheme.com.
About AMAG Pharmaceuticals, Inc.AMAG Pharmaceuticals, Inc. is a biopharmaceutical company that manufactures and markets Feraheme® in the United States. For additional company information, please visit www.amagpharma.com. AMAG Pharmaceuticals and Feraheme are registered trademarks of AMAG Pharmaceuticals, Inc. 1IMS Health DDD Data (in grams) through the period ending June 30, 2012.
AMAG Pharmaceuticals, Inc.
Condensed Consolidated Statements of Operations
(unaudited, amounts in thousands, except for per share data)
Three Months Ended June 30,
Six Months Ended June 30,
|Product sales, net||$||14,420||$||13,081||$||28,128||$||24,103|
|License fee, collaboration and royalty revenues||16,592||2,321||18,364||4,684|
|Operating costs and expenses (1):|
|Cost of product sales||3,224||2,082||5,870||5,123|
|Research and development expenses||7,671||16,695||20,133||30,261|
|Selling, general and administrative expenses||15,101||16,826||28,282||36,460|
|Total operating costs and expenses||27,054||35,603||55,343||71,844|
|Operating Income (Loss)||3,958||(20,201)||(8,851)||(43,057)|
|Interest and dividend income, net||338||452||731||1,012|
|Other income (expense)||(1,471)||(209)||(1,471)||(208)|
|Net income (loss) before income taxes||2,825||(19,958)||(9,591)||(42,253)|
|Income tax benefit||494||396||494||396|
|Net income (loss)||$||3,319||$||(19,562)||$||(9,097)||$||(41,857)|
|Net income (loss) per basic share:||$||0.16||$||(0.92)||$||(0.43)||$||(1.98)|
|Net income (loss) per diluted share:||$||0.15||$||(0.92)||$||(0.43)||$||(1.98)|
Weighted average shares outstanding used to compute net income (loss) per share:
|(1) Stock-based compensation included in operating costs and expenses:|
|Cost of product sales||$||68||$||157||$||146||$||352|
|Research and development||$||525||$||639||$||947||$||1,281|
|Selling, general and administrative||$||984||$||1,825||$||2,169||$||5,463|
|AMAG Pharmaceuticals, Inc.|
|Condensed Consolidated Balance Sheets|
|(unaudited, amounts in thousands)|
|June 30, 2012||December 31, 2011|
|Cash and cash equivalents||$||30,678||$||63,474|
|Accounts receivable, net||5,778||5,932|
|Receivable from collaboration||15,133||428|
|Other current assets||4,202||6,288|
|Total current assets||245,942||240,031|
|Net property, plant & equipment||7,831||9,206|
|Accrued expenses and other short-term liabilities||23,351||28,916|
|Total current liabilities||33,454||38,994|
|Other long-term liabilities||2,239||2,438|
|Total long-term liabilities||44,387||47,634|
|Total stockholders’ equity||176,392||180,596|
|Total liabilities and stockholders’ equity||$||254,233||$||267,224|
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