Amylin operating loss leaps to over $30 million

US biotech firm Amylin Pharmaceuticals (Nasdaq AMLN): reported financial results for the quarter ended March 31, 2012, with total revenues coming in at $153.7 million. However, non-GAAP operating loss for the quarter was $30.1 million, compared to $3.1 million for the same period in 2011. The increase reflects investments to support the US launch of its new type 2 diabetes product Bydureon (exenatide extended-release for injectable suspension).

Net product sales of $150.6 million for the quarter include $120.6 million for Byetta exenatide) injection, $23.1 million for Symlin (pramlintide acetate) injection and $6.9 million for Bydureon. This compares to net product sales of $150.8 million, consisting of $128.0 million for Byetta and $22.8 million for Symlin for the same period in 2011. There were no Bydureon revenues during the same period in 2011 because the drug was not yet approved. Revenues under collaborative agreements were $3.1 million for the quarter ended March 31, 2012, compared to $1.9 million for the same period in 2011.

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