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Aegerion Pharmaceuticals Announces Fourth-Quarter And Year-End 2012 Financial Results

For additional disclosure regarding these and other risks we face, see the disclosure contained in the "Risk Factors" section of Aegerion's Current Report on Form 8-K filed on January 10, 2013, and our other public filings with the Securities and Exchange Commission, available on the SEC's website at http://www.sec.gov . We undertake no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise.

Aegerion Pharmaceuticals, Inc. 
Condensed Consolidated Statements of Operations 
(in thousands, except per share amounts)
(unaudited) 
         
  Three Months Ended December 31, Year Ended December 31,
  2012 2011 2012 2011
Operating Expenses:        
Research and development  $ 8,558  $ 8,363  $ 25,164  $ 24,433
Selling, general and administrative  13,054 4,345 34,077 13,966
Restructuring costs  (11)  912  1,366  912
         
Total operating expenses  21,601  13,620  60,607  39,311
         
Loss from operations  (21,601)  (13,620)  (60,607)  (39,311)
Interest expense  (205)  (335)  (937)  (1,114)
Interest income  46  44  162  209
Other income/(expense), net  (39)  --  (883)  748
Net loss   $ (21,799)  $ (13,911)  $ (62,265)  $ (39,468)
         
Net loss per common share - basic and diluted  $ (0.86)  $ (0.66)  $ (2.64)  $ (2.03)
         
Weighted-average shares outstanding - basic and diluted 25,418 21,179 23,563 19,409
         
The Company has reclassified certain prior period amounts to conform to the current period presentation. In 2012, the Company began allocating certain overhead costs across its functional areas and as a result reclassified certain amounts in the prior year from selling, general and administrative expenses to research and development expenses. 
 
Aegerion Pharmaceuticals, Inc.
Condensed Consolidated Balance Sheets 
(in thousands)
(unaudited)
     
  December 31, 2012 December 31, 2011
Cash, cash equivalents and marketable securities  $ 82,177  $ 73,163
Prepaid expenses and other current assets  1,571  914
Restricted cash  105  105
Property and equipment, net  1,143  526
Other assets  93  860
Total assets  $ 85,089  $ 75,568
     
Accounts payable and accrued expenses  $ 13,904  $ 7,525
Current portion of long-term debt  3,022  1,875
Long-term debt  7,589  8,125
Other noncurrent liabilities  173  842
Total liabilities  24,688  18,367
Total stockholders' equity  60,401  57,201
Total liabilities and stockholders' equity  $ 85,089  $ 75,568
CONTACT: Aegerion Pharmaceuticals, Inc.
         Amanda Murphy
         Manager, Investor Relations
         (857) 242-5024

Aegerion Pharmaceuticals, Inc. Logo

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