Human Genome expects to end 2009 with $1.2 billion cash, investments

By Jennifer Lanning Drey

Portland, Ore., Jan. 11 - Human Genome Sciences, Inc. expects to report year-end 2009 cash and investments of $1.2 billion following two public offerings of its stock during the year, H. Thomas Watkins, its chief executive officer, said Monday during a presentation at the JPMorgan Healthcare Conference in San Francisco.

"From a financial perspective, clearly, 2009 was another very strong year for the company," Watkins said.

Cash burn in 2010 is expected to be between $300 million and $350 million, he said.

As a result, the company expects to have between $840 million and $890 million of cash and investments at year-end 2010.

Human Genome has the possibility of gaining regulatory approval of two major products in the United States before the end of 2010, as well as a pipeline with high potential at every stage of development, Watkins said.

The company expects revenues of at least $150 million in 2010.

Human Genome Sciences is a Rockville, Md., biopharmaceutical company.

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