Non-GAAP operating loss was $7.4 million for the quarter ended June 30, 2010, a 67% improvement compared to $22.4 million for the same period in 2009. The Company's results for the quarter ended June 30, 2010 and 2009 include restructuring charges of $3.4 million and $11.4 million, respectively.  Restructuring charges in both periods consist primarily of employee separation costs. Net loss excluding restructuring charges was $40.8 million, or $0.28 per share compared to $51.0 million or $0.36 per share for the same period in 2009. GAAP net loss was $44.2 million, or $0.31 per share, for the quarter ended June 30, 2010, compared to $62.4 million, or $0.44 per share, for the same period in 2009.

Six Months Ended June 30, 2010

Total revenues for the six months ended June 30, 2010 were $338.5 million. This includes net product sales of $334.8 million, including $290.5 million for BYETTA and $44.3 million for SYMLIN.  This compares to net product sales of $376.8 million, consisting of $332.8 million for BYETTA and $44.0 million for SYMLIN for the same period in 2009.

Revenues under collaborative agreements were $3.8 million for the six months ended June 30, 2010, compared to $2.1 million for the same period in 2009 and consist of the amortization of up-front fees received under the Company's collaboration agreements.

Selling, general and administrative expenses decreased to $150.9 million for the six months ended June 30, 2010 from $179.6 million for the same period in 2009. The decrease primarily reflects lower sales force spending, the Company's reduced cost structure and the absence of costs associated with the proxy contest in connection with the Company's 2009 annual meeting of stockholders.

Research and development expenses decreased to $87.8 million for the six months ended June 30, 2010 from $99.5 million for the same period in 2009. The decrease primarily reflects lower development expenses for the Company's obesity programs, partially offset by increased expenses associated with the Company's BYDUREON manufacturing facility. The reduction in obesity spending reflects development expense cost-sharing with Takeda Pharmaceutical Company Limited and lower clinical trial expenses from trials that were completed in 2009.

Collaborative profit sharing was $132.8 million for the six months ended June 30, 2010, compared to $149.2 million for the same period in 2009.

Non-GAAP operating loss was $11.2 million for the six months ended June 30, 2010, a 74% improvement compared to $42.2 million for the same period in 2009. Net loss excluding the restructuring charge was $79.0 million, or $0.55 per share. GAAP net loss for the six months ended June 30, 2010 was $82.4 million, or $0.58 per share, compared to $109.3 million, or $0.78 per share for the same period in 2009.

SOURCE Amylin Pharmaceuticals, Inc.