Human Genome Sciences Inc. (NASDAQ: HGSI) awaiting an FDA decision on its Lupus drug Benlysta; the Food and Drugs Commission is likely to give its decision tomorrow, and market sentiments suggest that the company may receive approval for its medicine.
Benlysta is being produced in collaboration with GlaxoSmithKline (NYSE: GSK). The drug has not been tested on Lupus patients where the ailment attacks the central nervous system or kidneys. It has also been reported that the drug is not very effective in African American patients.
If theFDA does not recommend the usage of the medicine by African American patients, Human Genome may lose up to 25% of the prospective market.
The company recently announced higher-than-expected losses for the fourth quarter of the year, posting a quarterly loss at $(87.6 million), or $(0.46) per share. The company's loss for the corresponding quarter of last year stood at $(9.7 million); the company also reported 60% decline in its revenue to $21.3 million.
Human Genome Sciences reported its total current assets at $531.181 million for the year ending Dec 31, 2010. Its total assets were worth $1.315 billion for the same time period. Human Genome Sciences had valued its total liabilities at $280.944 million. The company had reported its revenue at $157.351 million and its gross profit for the year at $112.394 million. Human Genome Sciences' net income for the year stood at ($233.231) million.
The company stock is currently trading at $25.76, up 0.35% from its previous close. Human Genome Sciences stock opened at $25.88 and touched the high of $25.89. The stock's lowest price in today's session is $25.71. The company stock's EPS is ($1.24). The company stock has traded in the range of $20.56 and $34.49 during the past 52 weeks. The company's market cap is $4.87 billion and its beta is 4.21.
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