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Home » HUMAN GENOME SCIENCES RECEIVES MILESTONE PAYMENTS FROM GLAXOSMITHKLINE FOR GSK716155 PROGRESS
HUMAN GENOME SCIENCES RECEIVES MILESTONE PAYMENTS FROM GLAXOSMITHKLINE FOR GSK716155 PROGRESS
Human Genome Sciences, Inc. announced today that it has received $7 million in payments from its collaborator, GlaxoSmithKline (GSK), related to the achievement of manufacturing and preclinical development milestones for GSK716155 (formerly known as Albugon), a drug currently in late-stage preclinical development for potential use in the treatment of diabetes. The Company received and recognized $2 million as revenue in the second quarter of 2005, and will recognize the remaining $5 million as revenue in the third quarter of 2005.
PharmaLive (http://www.medadnews.com/News/Index.cfm?articleid=260784)
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21Oct