Human Genome 1Q loss narrows, but misses analyst estimates

ROCKVILLE, Md.—Biotech company Human Genome Sciences Inc. said Monday its first-quarter loss narrowed as revenue grew, but results missed analyst expectations.

The company, which specializes in protein and antibody drugs, recorded a loss of $46.9 million, or 35 cents per share, compared with a loss of $51 million, or 38 cents per share, during the same period a year prior. Revenue rose 33 percent to $12.3 million from $9.3 million.

Analysts polled by Thomson Financial expected a loss of 19 cents per share on revenue of $14.9 million.

The biotech company's revenue included $8.9 million in payments from Novartis for the developing hepatitis C drug Albuferon and $1.6 million from a partnership with GlaxoSmithKline over the lupus drug LymphoStat-B.

The company had cash and investments totaling $591.3 million as of March 31.

Shares of Human Genome Sciences rose 4 cents to close at $6.63. In aftermarket trading, they lost 33 cents, or 5 percent, to $6.30. The stock has ranged from $4.74 to $11.95 over the past year.

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