Human Genome Sciences Reports Financial Results for First Quarter of 2001

Clinical Trial Programs Expanded



Apr 27, 2001, 01:00 ET from Human Genome Sciences, Inc.

    ROCKVILLE, Md., April 27 /PRNewswire/ -- Human Genome Sciences, Inc.
 (Nasdaq:   HGSI) today announced financial results for the quarter ended March
 31, 2001.
     The Company reported revenues of $5.3 million for the quarter ended March
 31, 2001.  These are the same as the revenues for the same period of the
 previous year.  The results for the three months ended March 31, 2000, have
 been restated as a result of the Company's implementation of SAB 101 in 2000,
 retroactive to January 1, 2000.  The Company's revenues for the three months
 ended March 31, 2001 have been recorded in accordance with the provisions of
 SAB 101.
     The Company reported a net loss of $13.0 million, or $0.10 per share, for
 the quarter ended March 31, 2001.  This compares with a net loss of $72.5
 million, or $0.70 per share, for the year earlier period.  A substantial
 portion of the net loss for the year-earlier period is due to one-time
 expenses of $50.8 million, or $0.49 per share, associated with the conversion
 to equity of two issuances of convertible subordinated notes, totaling $318.3
 million.
     The Company continued to invest in the development of preclinical and
 clinical drug candidates, operations at the Manufacturing and Process
 Development Facility, patent-related and transaction-related expenses and the
 relocation and operations of Principia Pharmaceutical Corporation, which was
 acquired in September 2000.  These investments led to the increase in
 operating costs during the quarter as compared to the year earlier period.
     At March 31, 2001, cash and short-term investments totaled $1.76 billion,
 including $12.5 million of restricted cash.  This compares to $1.77 billion,
 including $12.3 million of restricted cash, at December 31, 2001.
     At the end of March 2001, there were approximately 125.7 million shares of
 Human Genome Sciences common stock outstanding.
     William A. Haseltine, Ph.D., Chairman and Chief Executive Officer, said,
 "We are very pleased with the activities of this past quarter.  We made
 progress in developing our drugs and one of our partners, GlaxoSmithKline,
 announced results from a Phase I trial of a cardiovascular drug discovered
 using a target derived from our collaboration.  In addition, another of our
 partners, Takeda Chemical Industries, began drug programs on approximately 100
 targets for use in small molecule and antibody drug discovery."
 
     HIGHLIGHTS:  Human Genome Sciences made progress in a number of important
 areas during the first quarter.  These include:
 
     PRODUCTS:  Human Genome Sciences' clinical development programs made
 progress during the quarter, including:
 
     *  Repifermin: Human Genome Sciences began to enroll patients suffering
        from chronic venous ulcers into the "Closing Venous Ulcers with
        Repifermin" (CLOSURE) Trial, our Phase IIB clinical trial of
        repifermin.  The trial will be conducted at approximately 70 sites in
        the U.S. and is expected to enroll approximately 700 patients.  This
        clinical study was designed to evaluate the effectiveness of
        repifermin as a topical wound healing treatment.  This double-blind,
        placebo-controlled study will measure the percentage of patients
        achieving complete wound closure.
 
     *  Albuferon(TM):  Human Genome Sciences initiated a Phase I human
        clinical trial of Albuferon in patients infected with Hepatitis C.
        This multi-center, open-label study is designed to determine the
        safety and pharmacology of different doses of Albuferon in
        approximately 40 patients.  This is the first clinical trial of a drug
        to result from Human Genome Sciences' albumin fusion technology.
        Albuferon is creating by fusing the gene for a human protein,
        interferon alpha, to the gene of another human protein, albumin.
        Based on pre-clinical studies, Albuferon should provide patients with
        a longer-acting therapeutic activity and may offer an improved side-
        effect profile when compared to the current first line therapy,
        recombinant human interferon alpha.
 
     *  BLyS(TM):  Human Genome Sciences received orphan drug designation from
        the U.S. Food and Drug Administration (FDA) for this drug's first
        indication, the treatment of common variable immunodeficiency (CVID).
        This FDA program encourages development of novel therapies for
        diseases that might not otherwise be addressed.
 
     PARTNERSHIPS:  Two of Human Genome Sciences' strategic partners had
 important news related to the development of their own products derived from
 our technology:
 
     *  GlaxoSmithKline described results of a human trial demonstrating that
        a new compound, SB-435495, discovered as part of its collaboration
        with Human Genome Sciences, lowers levels of Lipoprotein-associated
        phospholipase A2 (Lp-PLA2), an enzyme associated with formation of
        atherosclerotic plaques.  Inhibition of Lp-PLA2 constitutes an
        important new avenue for the prevention and treatment of
        cardiovascular disease.  SmithKline Beecham, now GlaxoSmithKline, was
        Human Genome Sciences' first pharmaceutical industry partner.  We
        believe the results described by GlaxoSmithKline are the first from a
        small-molecule drug derived from genomics technology and may be the
        first of many new drugs to result from the genomics drug discovery
        paradigm.   Human Genome Sciences is entitled to future payments based
        on clinical trial milestones and substantial royalties as well as co-
        promotion rights in the North American and European markets, for the
        products that arise from our collaboration with GlaxoSmithKline.
 
     *  Takeda Chemical Industries, Ltd. has selected approximately 100
        targets from the Human Genome Sciences database for use in their small
        molecule and antibody drug development efforts.  The targets are of
        particular interest to Takeda because of their relevance to several of
        the therapeutic areas in which Takeda is focused, such as diabetes,
        cardiovascular diseases, bone and joint diseases, central nervous
        system disorders, urogenital diseases and allergy.  Takeda, the
        largest pharmaceutical company in Japan, is one of Human Genome
        Sciences' five strategic partners in its human gene consortium.  We
        are entitled to future payments based on clinical trial milestones and
        substantial royalties on the sale of each product that results from
        this collaboration.
 
     PEOPLE:  We recognize that the achievements of the Company are due to the
 efforts of our highly skilled and motivated team members and make many efforts
 to identify and retain valuable members.  Currently, the HGS team numbers
 approximately 750.
 
     PATENT PORTFOLIO:  During the quarter, Human Genome Sciences continued to
 increase its intellectual property estate.  The Company received six patents
 from the U.S. Patent & Trademark Office during the quarter HGS has filed
 patent applications on a large number of human gene-based inventions.  Patent
 applications describing a significant number of these inventions have been
 published, placing their contents into the public domain. Currently, the
 Company holds 168 U.S. patents on human gene-based inventions.
 
     MANUFACTURING/CAPITAL PROJECTS:  Human Genome Sciences has always had the
 goal of becoming a biopharmaceutical company that discovers, researches,
 develops, manufactures and sells its own products.
     In March, Human Genome Sciences entered into an agreement to purchase a
 state of the art research and manufacturing facility in Rockville, Maryland,
 for $55 million.  The facility consists of an 18-acre site with three
 buildings totaling 240,000 square feet of research and development labs and
 offices.  It is currently owned and occupied by Invitrogen-Life Science
 Technologies, of San Diego, California, which will be vacating the premises.
 The facility is located less than one mile from the existing HGS research
 campus and is adjacent to a 55-acre green field lot, called the Traville site,
 that HGS has contracted to purchase for future expansion.
     Earlier this year, Human Genome Sciences announced that the construction
 of a facility for the manufacture of antibody drugs for human clinical trials
 had been completed.  The facility also can be used to produce human
 therapeutic proteins for clinical trials using mammalian cell cultures.  This
 42,000 square foot facility was completed on time and on budget and financed
 under a favorable long-term lease arrangement with the Maryland Economic
 Development Corporation.  The new antibody manufacturing facilities are
 immediately adjacent to the existing 85,000 square foot facility that produces
 cGMP quality human therapeutic proteins in bacterial and yeast systems.
 
     FINANCIAL:  Human Genome Sciences provides the following guidance
 regarding financial results for the year 2001.
     The Company anticipates that research and development expense will
 increase approximately 50 to 70 percent from 2000 levels as it continues to
 expand the number of clinical trials for its drugs now in clinical trials,
 increase the number of its drugs in the clinic, expand the operations of its
 manufacturing facilities and increase investment in fusion protein technology.
 HGS expects general and administrative expense to increase by 40 to 50 percent
 from prior year levels as it continues to expand its patent portfolio, form
 new partnership agreements and increase its employee base by approximately 50
 percent.  HGS expects to earn interest income of approximately $75.0 million
 on its cash balances during 2001, net of interest expense.  Overall, we
 anticipate a net loss of $70.0 to $90.0 million, or $0.56 to $0.72 per share,
 based on 125.7 million shares outstanding
     Individuals interested in repifermin or chronic venous ulcer clinical
 trials are encouraged to contact Human Genome Sciences' Venous Ulcer
 Information Line at 888-601-9956.
     Individuals interested in Albuferon, BLyS or clinical trials for
 ulcerative colitis, common variable immunodeficiency or hepatitis C are
 encouraged to contact Human Genome Sciences at 301-610-5790, extension 3550,
 or via the Internet at http://www.hgsi.com .
 
     Human Genome Sciences is a company with the mission to treat and cure
 disease by bringing new gene-based drugs to patients.
     HGS, Human Genome Sciences, BLyS and Albuferon are registered trademarks
 of Human Genome Sciences, Inc.  For additional information on Human Genome
 Sciences, Inc., visit the company's web site at http://www.hgsi.com .  Copies
 of HGS press releases are also available by fax 24 hours a day at no charge by
 calling 800-758-5804, ext. 121115.
 
     This announcement contains forward-looking statements within the meaning
 of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
 the Securities Exchange Act of 1934, as amended.  The forward-looking
 statements are based on Human Genome Sciences' current intent, belief and
 expectations.  These statements are not guarantees of future performance and
 are subject to certain risks and uncertainties that are difficult to predict.
 Actual results may differ materially from these forward-looking statements
 because of the company's unproven business model, dependence on new
 technologies, uncertainty and timing of clinical trials, ability to develop
 and commercialize products, dependence on collaborators for services and
 revenue, substantial indebtedness, intense competition, uncertainty of patent
 and intellectual property protection, dependence on key management,
 uncertainty of regulation of products, dependence on key suppliers, the impact
 of future alliances or transactions and other risks that may be described in
 the company's filings with the Securities and Exchange Commission.  Existing
 and prospective investors are cautioned not to place undue reliance on these
 forward-looking statements, which speak only as of today's date.  Human Genome
 Sciences undertakes no obligation to update or revise the information
 contained in this announcement whether as a result of new information, future
 events or circumstances or otherwise.
 
 
                          Human Genome Sciences, Inc.
                     Consolidated Statements of Operations
 
                                                         Three months ended
                                                              March 31,
                                                         2001           2000
                                                      (dollars in thousands,
                                                    except per share amounts)
     Revenue - R&D collaborative contracts
       Third parties (a)                               $4,625         $4,625
       Related parties                                    642            642
         Revenue                                        5,267          5,267
 
     Costs and expenses:
       Research and development                        32,096         19,514
       General and administrative                       8,283          6,016
 
     Total costs and expenses                          40,379         25,530
 
     Income (loss) from operations (a)                (35,112)       (20,263)
     Net interest income                               22,105          6,808
     Debt conversion expenses                              --        (50,818)
     Income (loss) before taxes and cumulative
      effect of change in accounting principle (a)    (13,007)       (64,273)
     Provision for income taxes                            --             --
 
     Income (loss) before cumulative effect of
      change in accounting principle (a)              (13,007)       (64,273)
     Cumulative effect of change in accounting
      principle (a)                                        --         (8,250)
     Net income (loss) (a)                           $(13,007)      $(72,523)
     Net income (loss) per share, before
      cumulative effect of change in accounting
      principle (b)                                    $(0.10)        $(0.62)
     Cumulative effect of change in accounting
      principle (a)                                        --          (0.08)
     Net income (loss) per share, basic and
      diluted (b)                                      $(0.10)        $(0.70)
 
     Weighted average shares outstanding,
      basic & diluted (b)                         125,394,401    103,023,538
 
 
                                                    March 31,    December 31,
                                                         2001           2000
                                                      (dollars in thousands)
     Balance Sheet Data:
     Cash, cash equivalents and short-term
      investments (c)                              $1,763,940     $1,774,640
     Total assets                                   1,899,651      1,948,525
     Total debt and capital leases, less
      current portion                                 530,375        533,146
     Total stockholders' equity                     1,323,510      1,362,955
 
     (a) The Company's results for three months ended March 31, 2000, have been
         restated as a result of the Company's implementation of SAB 101 in
         2000, retroactive to January 1, 2000.  The Company's revenues for the
         three months ended March 31, 2001, have been recorded in accordance
         with the provisions of SAB 101
 
     (b) Share and per share data restated to reflect a two-for-one stock
         split, paid in the form of a stock dividend on October 5, 2000.
 
     (c) Includes $12,494 and $12,332 in restricted cash at March 31, 2001, and
         December 31, 2000, respectively.
 
                      MAKE YOUR OPINION COUNT - Click Here
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SOURCE Human Genome Sciences, Inc.
    ROCKVILLE, Md., April 27 /PRNewswire/ -- Human Genome Sciences, Inc.
 (Nasdaq:   HGSI) today announced financial results for the quarter ended March
 31, 2001.
     The Company reported revenues of $5.3 million for the quarter ended March
 31, 2001.  These are the same as the revenues for the same period of the
 previous year.  The results for the three months ended March 31, 2000, have
 been restated as a result of the Company's implementation of SAB 101 in 2000,
 retroactive to January 1, 2000.  The Company's revenues for the three months
 ended March 31, 2001 have been recorded in accordance with the provisions of
 SAB 101.
     The Company reported a net loss of $13.0 million, or $0.10 per share, for
 the quarter ended March 31, 2001.  This compares with a net loss of $72.5
 million, or $0.70 per share, for the year earlier period.  A substantial
 portion of the net loss for the year-earlier period is due to one-time
 expenses of $50.8 million, or $0.49 per share, associated with the conversion
 to equity of two issuances of convertible subordinated notes, totaling $318.3
 million.
     The Company continued to invest in the development of preclinical and
 clinical drug candidates, operations at the Manufacturing and Process
 Development Facility, patent-related and transaction-related expenses and the
 relocation and operations of Principia Pharmaceutical Corporation, which was
 acquired in September 2000.  These investments led to the increase in
 operating costs during the quarter as compared to the year earlier period.
     At March 31, 2001, cash and short-term investments totaled $1.76 billion,
 including $12.5 million of restricted cash.  This compares to $1.77 billion,
 including $12.3 million of restricted cash, at December 31, 2001.
     At the end of March 2001, there were approximately 125.7 million shares of
 Human Genome Sciences common stock outstanding.
     William A. Haseltine, Ph.D., Chairman and Chief Executive Officer, said,
 "We are very pleased with the activities of this past quarter.  We made
 progress in developing our drugs and one of our partners, GlaxoSmithKline,
 announced results from a Phase I trial of a cardiovascular drug discovered
 using a target derived from our collaboration.  In addition, another of our
 partners, Takeda Chemical Industries, began drug programs on approximately 100
 targets for use in small molecule and antibody drug discovery."
 
     HIGHLIGHTS:  Human Genome Sciences made progress in a number of important
 areas during the first quarter.  These include:
 
     PRODUCTS:  Human Genome Sciences' clinical development programs made
 progress during the quarter, including:
 
     *  Repifermin: Human Genome Sciences began to enroll patients suffering
        from chronic venous ulcers into the "Closing Venous Ulcers with
        Repifermin" (CLOSURE) Trial, our Phase IIB clinical trial of
        repifermin.  The trial will be conducted at approximately 70 sites in
        the U.S. and is expected to enroll approximately 700 patients.  This
        clinical study was designed to evaluate the effectiveness of
        repifermin as a topical wound healing treatment.  This double-blind,
        placebo-controlled study will measure the percentage of patients
        achieving complete wound closure.
 
     *  Albuferon(TM):  Human Genome Sciences initiated a Phase I human
        clinical trial of Albuferon in patients infected with Hepatitis C.
        This multi-center, open-label study is designed to determine the
        safety and pharmacology of different doses of Albuferon in
        approximately 40 patients.  This is the first clinical trial of a drug
        to result from Human Genome Sciences' albumin fusion technology.
        Albuferon is creating by fusing the gene for a human protein,
        interferon alpha, to the gene of another human protein, albumin.
        Based on pre-clinical studies, Albuferon should provide patients with
        a longer-acting therapeutic activity and may offer an improved side-
        effect profile when compared to the current first line therapy,
        recombinant human interferon alpha.
 
     *  BLyS(TM):  Human Genome Sciences received orphan drug designation from
        the U.S. Food and Drug Administration (FDA) for this drug's first
        indication, the treatment of common variable immunodeficiency (CVID).
        This FDA program encourages development of novel therapies for
        diseases that might not otherwise be addressed.
 
     PARTNERSHIPS:  Two of Human Genome Sciences' strategic partners had
 important news related to the development of their own products derived from
 our technology:
 
     *  GlaxoSmithKline described results of a human trial demonstrating that
        a new compound, SB-435495, discovered as part of its collaboration
        with Human Genome Sciences, lowers levels of Lipoprotein-associated
        phospholipase A2 (Lp-PLA2), an enzyme associated with formation of
        atherosclerotic plaques.  Inhibition of Lp-PLA2 constitutes an
        important new avenue for the prevention and treatment of
        cardiovascular disease.  SmithKline Beecham, now GlaxoSmithKline, was
        Human Genome Sciences' first pharmaceutical industry partner.  We
        believe the results described by GlaxoSmithKline are the first from a
        small-molecule drug derived from genomics technology and may be the
        first of many new drugs to result from the genomics drug discovery
        paradigm.   Human Genome Sciences is entitled to future payments based
        on clinical trial milestones and substantial royalties as well as co-
        promotion rights in the North American and European markets, for the
        products that arise from our collaboration with GlaxoSmithKline.
 
     *  Takeda Chemical Industries, Ltd. has selected approximately 100
        targets from the Human Genome Sciences database for use in their small
        molecule and antibody drug development efforts.  The targets are of
        particular interest to Takeda because of their relevance to several of
        the therapeutic areas in which Takeda is focused, such as diabetes,
        cardiovascular diseases, bone and joint diseases, central nervous
        system disorders, urogenital diseases and allergy.  Takeda, the
        largest pharmaceutical company in Japan, is one of Human Genome
        Sciences' five strategic partners in its human gene consortium.  We
        are entitled to future payments based on clinical trial milestones and
        substantial royalties on the sale of each product that results from
        this collaboration.
 
     PEOPLE:  We recognize that the achievements of the Company are due to the
 efforts of our highly skilled and motivated team members and make many efforts
 to identify and retain valuable members.  Currently, the HGS team numbers
 approximately 750.
 
     PATENT PORTFOLIO:  During the quarter, Human Genome Sciences continued to
 increase its intellectual property estate.  The Company received six patents
 from the U.S. Patent & Trademark Office during the quarter HGS has filed
 patent applications on a large number of human gene-based inventions.  Patent
 applications describing a significant number of these inventions have been
 published, placing their contents into the public domain. Currently, the
 Company holds 168 U.S. patents on human gene-based inventions.
 
     MANUFACTURING/CAPITAL PROJECTS:  Human Genome Sciences has always had the
 goal of becoming a biopharmaceutical company that discovers, researches,
 develops, manufactures and sells its own products.
     In March, Human Genome Sciences entered into an agreement to purchase a
 state of the art research and manufacturing facility in Rockville, Maryland,
 for $55 million.  The facility consists of an 18-acre site with three
 buildings totaling 240,000 square feet of research and development labs and
 offices.  It is currently owned and occupied by Invitrogen-Life Science
 Technologies, of San Diego, California, which will be vacating the premises.
 The facility is located less than one mile from the existing HGS research
 campus and is adjacent to a 55-acre green field lot, called the Traville site,
 that HGS has contracted to purchase for future expansion.
     Earlier this year, Human Genome Sciences announced that the construction
 of a facility for the manufacture of antibody drugs for human clinical trials
 had been completed.  The facility also can be used to produce human
 therapeutic proteins for clinical trials using mammalian cell cultures.  This
 42,000 square foot facility was completed on time and on budget and financed
 under a favorable long-term lease arrangement with the Maryland Economic
 Development Corporation.  The new antibody manufacturing facilities are
 immediately adjacent to the existing 85,000 square foot facility that produces
 cGMP quality human therapeutic proteins in bacterial and yeast systems.
 
     FINANCIAL:  Human Genome Sciences provides the following guidance
 regarding financial results for the year 2001.
     The Company anticipates that research and development expense will
 increase approximately 50 to 70 percent from 2000 levels as it continues to
 expand the number of clinical trials for its drugs now in clinical trials,
 increase the number of its drugs in the clinic, expand the operations of its
 manufacturing facilities and increase investment in fusion protein technology.
 HGS expects general and administrative expense to increase by 40 to 50 percent
 from prior year levels as it continues to expand its patent portfolio, form
 new partnership agreements and increase its employee base by approximately 50
 percent.  HGS expects to earn interest income of approximately $75.0 million
 on its cash balances during 2001, net of interest expense.  Overall, we
 anticipate a net loss of $70.0 to $90.0 million, or $0.56 to $0.72 per share,
 based on 125.7 million shares outstanding
     Individuals interested in repifermin or chronic venous ulcer clinical
 trials are encouraged to contact Human Genome Sciences' Venous Ulcer
 Information Line at 888-601-9956.
     Individuals interested in Albuferon, BLyS or clinical trials for
 ulcerative colitis, common variable immunodeficiency or hepatitis C are
 encouraged to contact Human Genome Sciences at 301-610-5790, extension 3550,
 or via the Internet at http://www.hgsi.com .
 
     Human Genome Sciences is a company with the mission to treat and cure
 disease by bringing new gene-based drugs to patients.
     HGS, Human Genome Sciences, BLyS and Albuferon are registered trademarks
 of Human Genome Sciences, Inc.  For additional information on Human Genome
 Sciences, Inc., visit the company's web site at http://www.hgsi.com .  Copies
 of HGS press releases are also available by fax 24 hours a day at no charge by
 calling 800-758-5804, ext. 121115.
 
     This announcement contains forward-looking statements within the meaning
 of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
 the Securities Exchange Act of 1934, as amended.  The forward-looking
 statements are based on Human Genome Sciences' current intent, belief and
 expectations.  These statements are not guarantees of future performance and
 are subject to certain risks and uncertainties that are difficult to predict.
 Actual results may differ materially from these forward-looking statements
 because of the company's unproven business model, dependence on new
 technologies, uncertainty and timing of clinical trials, ability to develop
 and commercialize products, dependence on collaborators for services and
 revenue, substantial indebtedness, intense competition, uncertainty of patent
 and intellectual property protection, dependence on key management,
 uncertainty of regulation of products, dependence on key suppliers, the impact
 of future alliances or transactions and other risks that may be described in
 the company's filings with the Securities and Exchange Commission.  Existing
 and prospective investors are cautioned not to place undue reliance on these
 forward-looking statements, which speak only as of today's date.  Human Genome
 Sciences undertakes no obligation to update or revise the information
 contained in this announcement whether as a result of new information, future
 events or circumstances or otherwise.
 
 
                          Human Genome Sciences, Inc.
                     Consolidated Statements of Operations
 
                                                         Three months ended
                                                              March 31,
                                                         2001           2000
                                                      (dollars in thousands,
                                                    except per share amounts)
     Revenue - R&D collaborative contracts
       Third parties (a)                               $4,625         $4,625
       Related parties                                    642            642
         Revenue                                        5,267          5,267
 
     Costs and expenses:
       Research and development                        32,096         19,514
       General and administrative                       8,283          6,016
 
     Total costs and expenses                          40,379         25,530
 
     Income (loss) from operations (a)                (35,112)       (20,263)
     Net interest income                               22,105          6,808
     Debt conversion expenses                              --        (50,818)
     Income (loss) before taxes and cumulative
      effect of change in accounting principle (a)    (13,007)       (64,273)
     Provision for income taxes                            --             --
 
     Income (loss) before cumulative effect of
      change in accounting principle (a)              (13,007)       (64,273)
     Cumulative effect of change in accounting
      principle (a)                                        --         (8,250)
     Net income (loss) (a)                           $(13,007)      $(72,523)
     Net income (loss) per share, before
      cumulative effect of change in accounting
      principle (b)                                    $(0.10)        $(0.62)
     Cumulative effect of change in accounting
      principle (a)                                        --          (0.08)
     Net income (loss) per share, basic and
      diluted (b)                                      $(0.10)        $(0.70)
 
     Weighted average shares outstanding,
      basic & diluted (b)                         125,394,401    103,023,538
 
 
                                                    March 31,    December 31,
                                                         2001           2000
                                                      (dollars in thousands)
     Balance Sheet Data:
     Cash, cash equivalents and short-term
      investments (c)                              $1,763,940     $1,774,640
     Total assets                                   1,899,651      1,948,525
     Total debt and capital leases, less
      current portion                                 530,375        533,146
     Total stockholders' equity                     1,323,510      1,362,955
 
     (a) The Company's results for three months ended March 31, 2000, have been
         restated as a result of the Company's implementation of SAB 101 in
         2000, retroactive to January 1, 2000.  The Company's revenues for the
         three months ended March 31, 2001, have been recorded in accordance
         with the provisions of SAB 101
 
     (b) Share and per share data restated to reflect a two-for-one stock
         split, paid in the form of a stock dividend on October 5, 2000.
 
     (c) Includes $12,494 and $12,332 in restricted cash at March 31, 2001, and
         December 31, 2000, respectively.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X02266737
 
 SOURCE  Human Genome Sciences, Inc.