SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K/A
AMENDMENT NO. 1 TO
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 4, 2004
Savient Pharmaceuticals, Inc.
(Exact name of issuer as specified in its charter)
Delaware |
| 0-15313 |
| 13-3033811 |
(State or Other Jurisdiction |
| (Commission File Number) |
| (IRS Employer |
|
| of Incorporation) |
| Identification No.) |
One Tower Center, 14th Floor |
|
|
East Brunswick, New Jersey |
| 08816 |
(Address of Principal Executive Offices) |
| (Zip Code) |
Registrant’s telephone number, including area code: (732) 418-9300
None.
(Former Name or Former Address, if Changed Since Last Report.)
ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
This Amendment No. 1 amends the Current Report on Form 8-K filed on May 4, 2004 by Savient Pharmaceuticals, Inc. (the “Company”) to correct an inadvertent misclassification in the Company’s condensed consolidated balance sheets at December 31, 2003, as set forth in Exhibit 99.1. $5,900,300 of long-term debt was inadvertently classified in current liabilities rather than as long-term liabilities and deferred items. The Company’s corrected condensed consolidated balance sheet at December 31, 2003 is set forth below.
SAVIENT PHARMACEUTICALS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
|
| March 31, |
| December 31, |
| ||
|
| (Unaudited) |
|
|
| ||
Assets: |
|
|
|
|
| ||
Cash, cash equivalents, and short-term investments |
| $ | 25,669 |
| $ | 22,801 |
|
Accounts receivable, inventory, and other current assets |
| 57,575 |
| 60,642 |
| ||
Total current assets |
| 83,244 |
| 83,443 |
| ||
|
|
|
|
|
| ||
Property and equipment, net |
| 70,095 |
| 70,426 |
| ||
Intangible assets, net |
| 74,725 |
| 75,743 |
| ||
Goodwill |
| 40,121 |
| 40,121 |
| ||
Other long-term assets |
| 21,193 |
| 20,807 |
| ||
Total assets |
| $ | 289,378 |
| $ | 290,540 |
|
|
|
|
|
|
| ||
Liabilities and stockholders’ equity: |
|
|
|
|
| ||
Current liabilities |
| $ | 43,110 |
| $ | 44,530 |
|
Long-term liabilities and deferred items |
| 56,721 |
| 58,580 |
| ||
Stockholders’ equity |
| 189,547 |
| 187,430 |
| ||
Total liabilities and stockholders’ equity |
| $ | 289,378 |
| $ | 290,540 |
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
| SAVIENT PHARMACEUTICALS, INC. | |
| (Registrant) | |
|
| |
|
| |
| By: | /s/ Sim Fass |
|
| Sim Fass |
|
| Chief Executive Officer |
Dated: May 4, 2004
