Abgenix Inc (1052837) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2005

Abgenix Inc

CIK: 1052837

Exhibit 99.1







Greg Mann



Director, Corporate Communications & Investor Relations








FREMONT, Calif., Feb. 21, 2006 — Abgenix, Inc. (Nasdaq: ABGX) today announced financial results for the fourth quarter and full year ended December 31, 2005. The company reported a net loss of $43.4 million, or $0.48 per share, for the fourth quarter of 2005, compared to a net loss of $42.9 million, or $0.48 per share, for the same period in 2004.


Net cash used in operating activities in the fourth quarter of 2005 was $26.3 million, compared to $18.8 million in the fourth quarter of 2004.  Cash, cash equivalents and marketable securities totaled approximately $332.8 million as of December 31, 2005.


“Positive clinical data for panitumumab and entering into our merger agreement with Amgen were key accomplishments in the fourth quarter of 2005,” said Bill Ringo, president and chief executive officer of Abgenix.  “The pivotal study for panitumumab met its primary endpoint of improving the rate of progression free survival in metastatic colorectal cancer patients who have failed standard chemotherapy.  Based on these study data, we and Amgen initiated our rolling Biologics License Application with the U.S. Food and Drug Administration in December 2005, and expect to complete the filing by the end of first quarter 2006.  With respect to our pending transaction, we believe the proposed acquisition by Amgen delivers substantial value to Abgenix stockholders and will enable panitumumab to achieve its full potential benefit for patients.  We look forward to closing the transaction, subject to stockholder approval, in late March or early April.”


Revenues for the fourth quarter of 2005 were $7.6 million, compared to $5.9 million for the same period in 2004. Revenues for the fourth quarter of 2005 consisted primarily of contract revenues from technology licensing agreements, including a milestone from Pfizer for advancing a XenoMouse®-derived antibody into a pivotal study. For the fourth quarter of 2004, revenues included milestone payments from Human Genome Sciences, Inc., Chiron Corporation and CuraGen Corporation. The company’s revenues typically result from milestone payments and fees associated with various collaborations and technology licensing agreements.




The following information was filed by Abgenix Inc on Tuesday, February 21, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Abgenix Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Abgenix Inc.


Assess how Abgenix Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Abgenix Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2006 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors


SEC Filing Tools
CIK: 1052837
Form Type: 10-K Annual Report
Accession Number: 0001104659-06-016940
Submitted to the SEC: Wed Mar 15 2006 5:13:02 PM EST
Accepted by the SEC: Wed Mar 15 2006
Period: Saturday, December 31, 2005
Industry: Biological Products No Disgnostic Substances

External Resources:

Bookmark the Permalink: