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Hyperion Therapeutics Announces First Quarter 2013 Operating Results

Conference Call and Webcast

Hyperion's management will discuss the Company's financial results for the quarter ended March 31, 2013, as well as provide a general business update, during a conference call beginning at 4:30 p.m. EDT/1:30 p.m. PDT today, Thursday, March 9, 2013.

To access the live teleconference, please dial (877) 847-7188 (U.S.) or (408) 427-3787 (International) and reference the conference ID# 46599927. To access the webcast, please go to the Events & Presentation page on the Investors section of the Company's web site at www.hyperiontx.com.

A telephone replay will be available approximately two hours after the call for one week by dialing (855) 859-2056 (U.S.) or (404) 537-3406 (International) and entering conference ID# 46599927. A replay of the webcast will be available on the Events & Presentation page on the Company's web site for 30 days.

About Hyperion Therapeutics

Hyperion Therapeutics, Inc. is a commercial stage biopharmaceutical company committed to developing and delivering life-changing treatments for orphan diseases and hepatology. For more information, please visit www.hyperiontx.com

Ravicti Safety Information

RAVICTI is indicated for use as a nitrogen-binding agent for chronic management of adult and pediatric patients ≥2 years of age with UCDs who cannot be managed by dietary protein restriction and/or amino acid supplementation alone. RAVICTI must be used with dietary protein restriction and, in some cases, dietary supplements (eg, essential amino acids, arginine, citrulline, protein-free calorie supplements). RAVICTI is not indicated for the treatment of acute hyperammonemia in patients with UCDs because more rapidly acting interventions are essential to reduce plasma ammonia levels. The safety and efficacy of RAVICTI for the treatment of N-acetylglutamate synthase (NAGS) deficiency has not been established. The use of RAVICTI in patients <2 months of age is contraindicated.

For additional Important Safety Information, including Warnings and Precautions, Adverse Events, Drug Interactions, and Special Populations, please see full Prescribing Information ( http://www.ravicti.com/files/RAVICTI_Prescribing_Information.pdf ) and Medication Guide ( http://www.ravicti.com/files/RAVICTI_Medication_Guide.pdf ) for RAVICTI.

 
 
Hyperion Therapeutics, Inc.
Consolidated Statements of Operations
(In thousands, except share and per share amounts)  
 
  Three Months Ended March 31, (Unaudited)
  2013 2012
Product Revenue, net $ 783  —  
     
Costs and Expenses:    
Cost of sales   68   —  
Research and development   1,849    8,902 
Selling, general and administrative  7,934   2,323 
     
Total costs and expenses  9,851  11,225 
     
Loss from operations  (9,068)  (11,225)
Interest income  1   4 
Interest expense  (408)  (1,040)
Other income (expense), net  500  375 
     
Net loss attributable to common stockholders $ (8,975) $ (11,886)
     
Net loss per share attributable to common stockholders:    
Basic and diluted $ (0.52) $ (25.33)
     
Weighted average number of shares used to compute net loss per share of common stock:    
Basic and diluted 17,366,848  469,319
     
 
 
Hyperion Therapeutics, Inc.
Consolidated Balance Sheets
(In thousands)    
 
  March 31, 2013 (unaudited) December 31, 2012 (1)   
Assets    
Current assets    
Cash and cash equivalents $ 102,666 $ 49,853
Accounts Receivable  819  — 
Inventories  473  — 
Prepaid expenses and other current assets  1,080  1,155
     
Total current assets  105,038  51,008
     
Property and equipment, net  345  49
Other non-current assets  140  147
   
Total assets $ 105,523 $ 51,204
     
Liabilities and Stockholders' Equity    
Current liabilities    
Accounts payable $ 1,343  $ 2,177
Accrued liabilities  2,897   2,540
Notes payable, current portion  5,039   4,348
     
Total current liabilities  9,279  9,065
Notes payable, net of current portion  6,513  7,750
     
Total liabilities  15,792  16,815
     
Stockholders' equity    
Preferred stock  —  — 
Common stock   2   2
Additional paid-in capital  237,701  173,384
Deficit accumulated during the development stage  (147,972)   (138,997)
     
Total stockholders' equity  89,731  34,389
     
Total liabilities and stockholders' equity $ 105,523 $ 51,204
     
(1) Derived from the audited financial statements, included in the Company's Annual Report on Form 10-K/A for the year ended December 31, 2012.    
     
CONTACT: Jeffrey Farrow, CFO
         (650) 745-7816
         Jeff.farrow@hyperiontx.com
         
         Kristie Kuhl, Media Relations
         (203) 556-7417
         kkuhl@makovsky.com

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