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By Julie Bell and Julie Bell,SUN STAFF | November 24, 2002
Human Genome Sciences Inc. has a treasure trove of cash, a highly respected management team and as many drug prospects as some of the world's top pharmaceutical companies. But you would never know it from what Wall Street has been doing to it lately. Over the past 11 months, the company's shares have plummeted nearly 68 percent, from $32.79 in January to $10.65 on Friday. So why is the Rockville-based company being hammered? The problem largely relates to cash. That may seem incongruous since the company has a stunning $1.55 billion, most of it left over from stock and debt offerings two years ago at the height of investor excitement over the mapping of the human genome.
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BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | May 24, 2000
Human Genome Sciences made double-barreled announcements yesterday about its protein wound-healer repifermin, saying the treatment showed promise and was "well-tolerated" in Phase II tests on skin-ulcer patients and - separately - that it had been approved for Phase II testing on patients with a painful gastrointestinal disease. Dr. David C. Stump, the company's senior vice president for drug development, called the two developments "great announcements for our product." But the company's shares dropped $9.25, or nearly 11.5 percent, to close at $71.25 on the Nasdaq stock market as the overall market fell.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | December 12, 2000
Shares of Human Genome Sciences Inc. got a boost yesterday when the company said that it would be added to the Nasdaq-100 index, a move that induced buying among investors who peg their portfolios to the index. The company's shares gained $7.69, or 9.8 percent, to close at $86.19 yesterday amid a rally in biotechnology stocks generally. The Nasdaq biotechnology index gained 37.01 points, or 3.1 percent, to close at 1,217.08. The Nasdaq-100 index is revised annually to ensure that it represents the 100 largest nonfinancial issues listed on the Nasdaq stock market.
BUSINESS
By Mark Guidera and Mark Guidera,SUN STAFF | January 16, 1996
Human Genome Sciences, the Rockville company developing a library about human genes and how that information can be used to create new medical therapies, says it expects to get a $25 million payment from British pharmaceutical giant SmithKline Beecham PLC as a result of meeting a milestone for mapping genes.The payment, which first must be approved by the Securities and Exchange Commission, is the last one due under a 1993 licensing deal between the two companies.SmithKline Beecham, which has already paid Human Genome about $100 million under the licensing deal, hopes to develop and market therapeutic vaccine and diagnostic products from the human gene database developed by the young Rockville firm.
BUSINESS
By TRICIA BISHOP and TRICIA BISHOP,SUN REPORTER | June 30, 2006
Maryland is no longer in the running for a flu vaccine manufacturing plant that would have added hundreds of new jobs, many of them entry level, a state representative confirmed yesterday. Though no official word has yet come from the plant's developer, Switzerland's Novartis AG, the state's secretary of business and economic develop- ment conceded that Maryland couldn't offer the incentives that other states could. "It's too expensive," said Aris Melissaratos, who accompanied Gov. Robert L. Ehrlich Jr. and his running mate, Kristen Cox, on a visit to Gaithersburg's Digene Corp.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | February 26, 2000
Human Genome Sciences Inc. said yesterday that it will share part of its gene database with a San Diego-based biotech company as part of an agreement to quicken the development of promising drugs. In return, Rockville-based Human Genome has the option to license the DNA gene-delivery technology developed by Vical Inc. for use in up to three gene-based products. Vical can license up to three genes from Human Genome's proprietary genomics database for gene-based product development. "We are delighted to collaborate with Vical in applying our considerable genomics database in the development of DNA-based pharmaceutical products," said William A. Haseltine, chairman and chief executive officer of Human Genome.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | October 18, 2002
Shares of Human Genome Sciences Inc. fell as much as 23 percent during trading yesterday after a Florida-based investment bank recommended that investors sell or short the stock on concerns that the company's cash is dwindling. The stock recovered much of the lost ground by day's end as the drug developer and other Wall Street analysts dismissed Sterling Financial Investment Group's analysis as flawed. "They have made some serious factual errors in their report," Steven C. Mayer, Human Genome's chief financial officer, said late yesterday.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | October 2, 2001
More than 700 Life Technologies Inc. employees worked in Frederick and Rockville before the publicly traded company was bought last year by Invitrogen Corp. By the end of June, only 125 of those employees will be left - all of them in Frederick, the company said yesterday. Invitrogen, based in Carlsbad, Calif., notified the state late last month that it would cut 250 jobs at the Frederick plant, which makes kits containing microbiological tools used by scientists. Another 160 jobs in administration and research and development are being cut at Life Technologies' former headquarters campus in Rockville.
BUSINESS
By Julie Bell and Julie Bell,SUN STAFF | December 8, 2001
Human Genome Sciences Inc. said yesterday that its drug Repifermin in separate clinical trials showed no signs of effectiveness against either mucositis - a condition characterized by debilitating mouth, throat and gastrointestinal sores - or ulcerative colitis. Human Genome shares, already trading nearly $2 lower in the early afternoon, fell further after the company highlighted the Repifermin results in a press release issued just after 2 p.m. The stock fell $3.92, or 9.8 percent, to close at $36.09 on the Nasdaq stock market.
BUSINESS
By Tricia Bishop and Tricia Bishop,sun reporter | June 8, 2007
Human Genome Sciences Inc. reported clinical trial data yesterday showing that Albuferon, a hepatitis C drug the Rockville biotech is developing, is comparable to a current therapy and may do less damage to patients' quality of life during treatment. It also had a benefit of particular interest in the United States, where a large percentage of patients are overweight: The drug appeared to work better in heavier people than its alternative, a drug called Pegasys made by Hoffmann-La Roche Inc. But Albuferon, one of two drugs the company is relying on for eventual revenue, also had higher rates of patient discontinuation because of adverse events - particularly at the higher dosing levels.
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