-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MCJuNZkoObEuB7vAdry4TIt4FBrC9KxWqCl0WFrxQlTQ1oVBEp0ikAHd4G4Mp3KJ NgkbyDZE3Bjpqn11yWO7hA== 0000930413-10-004738.txt : 20100903 0000930413-10-004738.hdr.sgml : 20100903 20100903155849 ACCESSION NUMBER: 0000930413-10-004738 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 7 CONFORMED PERIOD OF REPORT: 20100630 FILED AS OF DATE: 20100903 DATE AS OF CHANGE: 20100903 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SAVIENT PHARMACEUTICALS INC CENTRAL INDEX KEY: 0000722104 STANDARD INDUSTRIAL CLASSIFICATION: MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833] IRS NUMBER: 133033811 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-15313 FILM NUMBER: 101057756 BUSINESS ADDRESS: STREET 1: ONE TOWER CENTER CITY: EAST BRUNSWICK STATE: NJ ZIP: 08816 BUSINESS PHONE: 7324189300 MAIL ADDRESS: STREET 1: ONE TOWER CENTER CITY: EAST BRUNSWICK STATE: NJ ZIP: 08816 FORMER COMPANY: FORMER CONFORMED NAME: BIO TECHNOLOGY GENERAL CORP DATE OF NAME CHANGE: 19920703 10-Q/A 1 c62425_10-qa.htm

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 10-Q/A

 

Amendment No. 1

 

 

(Mark One)

 

x

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2010

OR

o

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM TO

COMMISSION FILE NUMBER 0-15313

 

SAVIENT PHARMACEUTICALS, INC.

(Exact Name of Registrant as Specified in Its Charter)


 

 

 

Delaware
(State or Other Jurisdiction of
Incorporation or Organization)

 

13-3033811
(I.R.S. Employer
Identification No.)

One Tower Center, 14th Floor, East Brunswick, New Jersey 08816
(Address of Principal Executive Offices)

(732) 418-9300
(Registrant’s Telephone Number, Including Area Code)
(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)

          Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES x   NO o

          Indicate by check mark whether the registrant has submitted electronically and posted on its corporate web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). YES x   NO o

          Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

 

 

 

 

 

 

 

Large accelerated filer x

 

Accelerated filer o

 

Non-accelerated filer o
(Do not check if a smaller
reporting company)

 

Smaller reporting company o

          Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES o   NO x

          The number of shares outstanding of the issuers’ Common Stock, par value $.01 per share, as of August 3, 2010 was 67,604,590.

1


EXPLANATORY NOTE

The sole purpose of this Amendment No. 1 to our Quarterly Report on Form 10-Q for the period ended June 30, 2010, as originally filed with the Securities and Exchange Commission on August 6, 2010, is to furnish Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T.

Exhibit 101 provides the following financial information from Savient Pharmaceuticals, Inc.’s Form 10-Q for the quarter ended June 30, 2010, formatted in eXtensible Business Reporting Language (XBRL):

 

 

(i)

Consolidated Balance Sheets at June 30, 2010 and December 31, 2009

 

(ii)

Consolidated Statements of Operations for the three and six months ended June 30, 2010 and 2009

 

(iii)

Consolidated Statement of Changes in Stockholders’ Equity for the six months ended June 30, 2010

 

(iv)

Consolidated Statements of Cash Flows for the six months ended June 30, 2010 and 2009

 

(v)

Notes to Consolidated Financial Statements

No other changes have been made to the original Form 10-Q. This Form 10-Q/A speaks as of the original filing date and has not been updated to reflect events occurring subsequent to the original filing date.

Pursuant to Rule 406T of Regulation S-T, the interactive data files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

2


Item 6.

Exhibits

The exhibits filed as part of this Form 10-Q/A are listed in the exhibit index immediately preceding the exhibits and are incorporated herein.

3


SIGNATURES

          Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

 

Savient Pharmaceuticals, Inc.

 

(Registrant)

 

By:

/s/ Paul Hamelin

 

 

 

 

 

Paul Hamelin

 

 

President

 

 

(Principal Executive Officer)

 

 

 

 

By:

/s/ David G. Gionco

 

 

 

 

 

David G. Gionco

 

 

Group Vice President, Chief Financial Officer & Treasurer

 

 

(Principal Financial Officer)

Dated: September 3, 2010

4


EXHIBIT INDEX

 

 

 

Exhibit No.

 

Description


 


31.1*

 

Certification of principal executive officer pursuant to Rule 13a-14(a)/15d-14(a) under the Securities Exchange Act of 1934, as amended

31.2*

 

Certification of the principal financial officer pursuant to Rule 13a-14(a)/15d-14(a) under the Securities Exchange Act of 1934, as amended

32.1*

 

Statement pursuant to 18 U.S.C. §1350

32.2*

 

Statement pursuant to 18 U.S.C. §1350

101.INS**

 

INSTANCE DOCUMENT

101.SCH**

 

SCHEMA DOCUMENT

101.CAL**

 

CALCULATION LINKBASE DOCUMENT

101.LAB**

 

LABELS LINKBASE DOCUMENT

101.PRE**

 

PRESENTATION LINKBASE DOCUMENT

101.DEF**

 

DEFINITION LINKBASE DOCUMENT

 

 

 

 

 

 

____________

*

Previously filed

**

Submitted electronically herewith

 

Attached as Exhibit 101 to this report are the following formatted in XBRL (eXtensible Business Reporting Language): (i) Consolidated Balance Sheets at June 30, 2010 and December 31, 2009, (ii) Consolidated Statements of Operations for the three and six months ended June 30, 2010 and June 30, 2009, (iii) Consolidated Statement of Changes in Stockholders’ Equity for the six months ended June 30, 2010, (iv) Consolidated Statements of Cash Flows for the six months ended June 30, 2010 and June 30, 2009 and (v) Notes to Consolidated Financial Statements.

In accordance with Rule 406T of Regulation S-T, the XBRL-related information in Exhibit 101 to this Quarterly Report on Form 10-Q is deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

 

5


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Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, the unaudited interim financial statements furnished herein include all adjustments necessary for a fair presentation of Savient Pharmaceuticals, Inc.&#146;s (&#147;Savient&#148; or the &#147;Company&#148;) financial position at June 30, 2010, the results of its operations for the six months ended June 30, 2010 and 2009, and cash flows for the six months ended June 30, 2010 and 2009. Interim financial statements are prepared on a basis consistent with the Company&#146;s annual financial statements. 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The estimates are based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Results may differ from these estimates due to actual outcomes differing from those on which the Company bases its assumptions.</font></p><br/><p><font size="2"><i>&#160;&#160;&#160;&#160;&#160;Investments</i></font></p><br/><p align="justify"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Company classifies investments as &#147;available-for-sale securities,&#148; &#147;held-to-maturity securities&#148; or &#147;trading securities.&#148; Investments that are purchased and held principally for the purpose of selling them in the near-term are classified as trading securities and marked to fair value through earnings. 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In March 2008, Berger filed an amended complaint that abandoned several of his claims, but continued to seek damages and rescission of the invention assignments. In March 2009, Savient filed a motion for summary judgment on Berger&#146;s claims and thereafter Berger filed a cross-motion for summary judgment. Subsequently, oral argument on the summary judgment motions was held and on August 17, 2009, the court issued an order granting the Company&#146;s motion for summary judgment, denying Berger&#146;s cross-motion and dismissing the complaint and amended complaint with prejudice. In September 2009, counsel for Berger filed a notice of appeal of the decision of the trial court, in response to which Savient filed a notice of cross-appeal solely with respect to the decision of the trial court to apply Kentucky law to the facts of the case. 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See Note 13 to the consolidated financial statements for more details.</font></p><br/> &#160;&#160;&#160;&#160;&#160;Note 6&#151;Property and Equipment, Net&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Property and equipment, false false false us-types:textBlockItemType textblock Disclosure of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, building and production equipment. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures. This element may be used as a single block of text to include the entire PPE disclosure, including data and tables. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 5 false 1 2 false UnKnown UnKnown UnKnown false true XML 11 R10.xml IDEA: Inventories  2.2.0.7 false Inventories 10 - Disclosure - Inventories true false false false 1 USD false false usdPerShare Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 usd Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 2 0 svnt_InventoryDisclosureTextBlockAbstract svnt false na duration No definition available. false false false false false true false false false false false false 1 false false false false 0 0 false false false xbrli:stringItemType string No definition available. false 3 1 us-gaap_InventoryDisclosureTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false 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In March 2008, Berger filed an amended complaint that abandoned several of his claims, but continued to seek damages and rescission of the invention assignments. In March 2009, Savient filed a motion for summary judgment on Berger&#146;s claims and thereafter Berger filed a cross-motion for summary judgment. Subsequently, oral argument on the summary judgment motions was held and on August 17, 2009, the court issued an order granting the Company&#146;s motion for summary judgment, denying Berger&#146;s cross-motion and dismissing the complaint and amended complaint with prejudice. In September 2009, counsel for Berger filed a notice of appeal of the decision of the trial court, in response to which Savient filed a notice of cross-appeal solely with respect to the decision of the trial court to apply Kentucky law to the facts of the case. 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Koncelik vs. Savient Pharmaceuticals, et al</i>. Thereafter, the lead plaintiff filed his amended complaint in April 2009, seeking unspecified monetary damages. In June 2009, Savient and the other named defendants moved to dismiss the complaint. The lead plaintiff subsequently filed an opposition to the Company&#146;s motion to dismiss and the Company filed its reply in October 2009. Oral arguments were heard by the Court in February 2010 relating to the Company&#146;s motion to dismiss and the Company is awaiting the Court&#146;s decision. The Company intends to vigorously defend against this action.</font></p><br/><p align="justify"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Since 2008, one of the Company&#146;s customers requested a total of $1.3 million in reimbursements relating to Oxandrin returned goods that were not in compliance with the Company&#146;s returned goods policy. 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securities (other than those equity securities accounted for under the equity or cost methods of accounting) with readily determinable fair values. Other trading assets include assets that are carried on the balance sheet at fair value and held for trading purposes. A debt security represents a creditor relationship with an enterprise that is in the form of a security. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certa in preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities (and other trading assets). Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 3, 19, 20, 21, 22, 137 false 1 2 false UnKnown UnKnown UnKnown false true XML 24 R6.xml IDEA: Basis of Presentation  2.2.0.7 false Basis of Presentation 06 - Disclosure - Basis of Presentation true false false false 1 USD false false usdPerShare Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 usd Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 2 0 svnt_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlockAbstract svnt false na duration No definition available. false false false false false true false false false false false false 1 false false false false 0 0 false false false xbrli:stringItemType string No definition available. false 3 1 us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false label false 1 false false false false 0 0 <p><font size="2">&#160;&#160;&#160;&#160;&#160;<b>Note 1&#151;Basis of Presentation</b></font></p><br/><p align="justify"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (&#147;GAAP&#148;) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, the unaudited interim financial statements furnished herein include all adjustments necessary for a fair presentation of Savient Pharmaceuticals, Inc.&#146;s (&#147;Savient&#148; or the &#147;Company&#148;) financial position at June 30, 2010, the results of its operations for the six months ended June 30, 2010 and 2009, and cash flows for the six months ended June 30, 2010 and 2009. Interim financial statements are prepared on a basis consistent with the Company&#146;s annual financial statements. Results of operations for the six months ended June 30, 2010 are not necessarily indicative of the operating results that may be expected for the year ending December 31, 2010.</font></p><br/><p align="justify"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The consolidated balance sheet as of December 31, 2009 was derived from the audited financial statements at that date and does not include all of the information and notes required by GAAP for complete financial statements. The interim statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company&#146;s Annual Report on Form 10-K for the year ended December 31, 2009.</font></p><br/><p><font size="2"><i>&#160;&#160;&#160;&#160;&#160;Consolidation</i></font></p><br/><p align="justify"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, Savient Pharma Holdings, Inc. Certain prior period amounts have been reclassified to conform to current period presentations. There was no effect on net loss or equity related to these reclassifications.</font></p><br/><p><font size="2"><i>&#160;&#160;&#160;&#160;&#160;Use of estimates</i></font></p><br/><p align="justify"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates, including those related to investments, accounts receivable, reserve for product returns, inventories, rebates, property and equipment, share-based compensation and income taxes. The estimates are based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Results may differ from these estimates due to actual outcomes differing from those on which the Company bases its assumptions.</font></p><br/><p><font size="2"><i>&#160;&#160;&#160;&#160;&#160;Investments</i></font></p><br/><p align="justify"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Company classifies investments as &#147;available-for-sale securities,&#148; &#147;held-to-maturity securities&#148; or &#147;trading securities.&#148; Investments that are purchased and held principally for the purpose of selling them in the near-term are classified as trading securities and marked to fair value through earnings. Investments in debt securities that the Company has the positive intent and ability to hold to maturity are carried at amortized cost and classified as held-to-maturity. Investments not classified as trading securities or held-to-maturity securities are considered to be available-for-sale securities. Changes in the fair value of available-for-sale securities are reported as a component of accumulated other comprehensive income in the consolidated statements of stockholders&#146; equity and are not reflected in the consolidated statements of operations until a sale transaction occurs or when declines in fair value are deemed to be other-than-temporary (&#147;OTT&#148;).</font></p><br/> &#160;&#160;&#160;&#160;&#160;Note 1&#151;Basis of Presentation&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The accompanying unaudited false false false us-types:textBlockItemType textblock Description containing the entire organization, consolidation and basis of presentation of financial statements disclosure. 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(Expense), Net&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Company&#146;s Other false false false us-types:textBlockItemType textblock Discloses other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that should be disclosed in this note, or in the income statement, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 3, 6, 7, 9 -Article 5 false 1 2 false UnKnown UnKnown UnKnown false true XML 27 defnref.xml IDEA: XBRL DOCUMENT No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. The cash outflow to acquire a debt financial instrument which are categorized as held-to-maturity having scheduled maturities more than one year from the balance sheet date or the normal operating cycle, if longer and for which the entity has the ability and intent to hold until maturity. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Number of shares issued during the period as a result of employees stock purchase plan. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Warrant liability transferred to Additional paid in capital on exercise of warrant. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Number of shares issued during the period as a result of the exercise of warrants. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. This element may be used as a single block of text to encapsulate the entire disclosure for other non-current liabilities including data and tables. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Weighted average number of shares outstanding, basic and diluted No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. The amount of employees stock purchase plan (ESPP) compensation cost recognized during the period. No authoritative reference available. No authoritative reference available. No authoritative reference available. The amount of net income or loss for the period per each share of common stock outstanding, basic and diluted. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. Value stock issued during the period as a result of the exercise of warrants. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. The cash inflow from issuance of common stock from exercise of warrants issued earlier to investors. No authoritative reference available. Sum of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer. Also includes, aggregate carrying amount, as of the balance sheet date, of current assets not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). No authoritative reference available. No authoritative reference available. No authoritative reference available. XML 28 R21.xml IDEA: Segment Information  2.2.0.7 false Segment Information 21 - Disclosure - Segment Information true false false false 1 USD false false usdPerShare Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 usd Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 2 0 svnt_SegmentReportingDisclosureTextBlockAbstract svnt false na duration No definition available. false false false false false true false false false false false false 1 false false false false 0 0 false false false xbrli:stringItemType string No definition available. false 3 1 us-gaap_SegmentReportingDisclosureTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false label false 1 false false false false 0 0 <p align="justify"><font size="2"><b>&#160;&#160;&#160;&#160;&#160;Note 16&#151;Segment Information</b></font></p><br/><p align="justify"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Company currently operates within one &#147;Specialty Pharmaceutical&#148; segment which includes sales of Oxandrin and oxandrolone, and the research and development activities of KRYSTEXXA.</font></p><br/> &#160;&#160;&#160;&#160;&#160;Note 16&#151;Segment Information&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Company currently operates false false false us-types:textBlockItemType textblock This element may be used to capture the complete disclosure of reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10% or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. 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The Company expenses these manufacturing-related costs as research and development as incurred because these costs do not meet the definition of an asset, as future use cannot be determined based upon the uncertainty of whether KRYSTEXXA will be approved for marketing by the U.S. Food and Drug Administration (&#147;FDA&#148;).</font></p><br/><p align="justify"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Clinical trial cost is another significant component of research and development expenses and most of the Company&#146;s clinical studies are performed by third-party contract research organizations (&#147;CRO&#148;). The Company accrues costs for clinical studies performed by CROs that are milestone or event driven in nature and based on reports and invoices submitted by the CRO. These expenses are based on patient enrollment as well as costs consisting primarily of payments made to the CRO, clinical sites, investigators, testing facilities and patients for participating in the Company&#146;s clinical trials.</font></p><br/><p align="justify"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Non-refundable advance payments for future research and development activities are deferred and capitalized. Such amounts are recognized as an expense as the goods are delivered or the related services are performed. The Company had no deferred research and development costs as of June 30, 2010 and December 31, 2009 and had no amortization expense for the six months ended June 30, 2010 and 2009 based on services performed. All other research and development costs are charged to expense as incurred, including $0.2 and $0.1 million of fees incurred during the six months ended June 30, 2010 and 2009, respectively, to reserve manufacturing capacity at the Company&#146;s third-party suppliers&#146; manufacturing facilities, for future potential orders of KRYSTEXXA.</font></p><br/> &#160;&#160;&#160;&#160;&#160;Note 8&#151;Research and Development&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Research and development false false false us-types:textBlockItemType textblock Describes an entity's accounting policy for its research and development and computer software activities including the accounting treatment for costs incurred for (1) research and development activities, (2) development of computer software for internal use, (3) computer software to be sold, leased or otherwise marketed as a separate product or as part of a product or process and (4) in-process research and development acquired in a purchase business combination. 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The amended guidance requires entities to disaggregate by segment or class certain existing disclosures and provide certain new disclosures about its financial receivables and related allowance for credit losses. The amended guidance is effective for interim and annual financial periods beginning after December 15, 2010. The Company does not expect ASU 2010-20 to have a material effect on its consolidated financial statements.</font></p><br/><p align="justify"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In January 2010, the FASB issued ASU 2010-06, <i>Improving Disclosures about Fair Value Measurements.</i> ASU 2010-06 amends ASU 820 to require a number of additional disclosures regarding fair value measurements. 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Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20, 24 -Article 5 false 1 2 false UnKnown UnKnown UnKnown false true
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