Friday, February 12, 2010

ZymoGenetics, Inc. Q4 2009

On the RECOTHROM front, we continue to gain market share and in January we published pooled safety and immunogenicity data across 8 different clinical studies in the Journal of the American College of Surgeons. This data further supports the safety and differentiation of RECOTHROM as a topical hemostat; we have recently been notified by FDA that they will require more time to analyze the mix of the citizen petition we filed in August which was inline with our expectations for their actions. Less visible but no less important will be the GMP manufacturing of the IL-31 monoclonal antibody and the initiation of IND enabling toxicology studies to support a first half 2011 IND Filing.

The company proceed of $13.6 million profits for the quarter which resulted from a one set of recognition at differed revenue related to restructuring of the their agreement. It was the positive quarter financially was increased RECOTHROM sale further reductions in ongoing operating expenses. A $94 million of cash inflow is from milestone payments.

All of our financial goals for the year ending with the strong cash position strengthen further by the additional $91 million rate of last month. Net sales of RECOTHROM increased $10.6 million for the quarter including 1.4 million (inaudible) to try the clinic launch in Canada. For the year sales of (inaudible) firm within our range of guidance further in asset sales to be included. At the hospital level we continue to see increasing demand in Q4, we estimated the growth that approximately 18% compared to the third quarter. Cognition and license revenue for the quarter were $51.2 million and the largest component of this total was the acceleration of $34 million related to their agreement.

No comments: