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Synageva BioPharma Reports Second Quarter 2012 Financial Results

Synageva BioPharma Corp. (“Synageva”) (NASDAQ:GEVA), a clinical stage biopharmaceutical company developing therapeutic products for rare disorders, today reports second quarter 2012 financial results and announces presentations at an upcoming medical conference.

Presentations/Symposium at Upcoming SSIEM Meeting

Two oral presentations are scheduled at the Society for the Study of Inborn Errors of Metabolism (SSIEM) meeting being held in Birmingham, England, September 4-7, 2012. The first oral session will review data from the Phase I/II trial of SBC-102 in adults with late onset LAL Deficiency, including data from the on-going extension study as previously highlighted by the company. The second oral session will review the natural history of infants with early onset LAL Deficiency, also previously highlighted by the company. Both presentations are scheduled for Thursday, September 6 th with titles and times detailed below:
  • “Recombinant Lysosomal Acid Lipase (LAL) demonstrates pharmacodynamic activity in Cholesteryl Ester Storage Disease (CESD), the late onset form of LAL Deficiency,” Simon Jones, 10:30 am-12:00 pm GMT
  • “Natural history study of early onset Lysosomal Acid Lipase (LAL) Deficiency (Wolman disease) confirms a severe and rapid disease course,” Christian Hendriksz, 1:00 pm-2:30 pm GMT

In addition, on the evening of September 3 rd, Synageva will host a satellite symposium for physicians moderated by Patrick McKiernan M.D., a pediatric hepatologist at the Birmingham Children’s Hospital, Birmingham, England. The satellite symposium will focus on the connection between metabolics and pediatric liver diseases and will include physician experience with LAL Deficiency, clinical progress of SBC-102, and advances in diagnostic testing for LAL Deficiency.

Second Quarter 2012 Financial Results

For the quarter ended June 30, 2012, Synageva reported a net loss of $10.2 million compared to a net loss of $5.6 million for the corresponding quarter of the prior year. For the six months ended June 30, 2012, Synageva reported a net loss of $17.6 million compared to a net loss of $11.0 million for the corresponding period of the prior year. Results for the quarter ended June 30, 2011 refer to the results for Synageva BioPharma Corp., the private predecessor to the company resulting from the combination of private Synageva and Trimeris.

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