Human Genome Sciences Inc. (HGSI) reported first quarter financial results Wednesday after the close of trade, posting its first ever product-related sales and profits that even beat Wall Street's estimates. To what does Human Genome owe its success? Why to Anthrax, of course.
Human Genome earned $129.8 million, or 85 cents per share, compared with a loss of $52.7 million, or 39 cents per share, during the same period a year prior. Revenue surged to $177.3 million from only $12.3 million. This beat the average analysts estimate polled by Thomson Reuters of profit of 54 cents per share on revenue of $150.4 million.