On May 15, 2013, SciClone Pharmaceuticals, Inc. notified The NASDAQ Stock Market LLC (NASDAQ) that it would delay filing its Quarterly Report on Form 10-Q for its fiscal quarter ended March 31, 2013 (Form 10-Q). The filing delay will exceed the 5-day extension permitted under rules of the Securities and Exchange Commission. As a result, the company is not in compliance with NASDAQ Listing Rule 5250(c)(1) which requires timely filing of reports required by rules of the Securities and Exchange Commission. The company intends to submit a plan to regain compliance as quickly as possible, as required by the NASDAQ Listing Rules. On May 16, 2013, as anticipated, the company received a letter from NASDAQ indicating that the company is not in compliance with the filing requirements for continued listing under NASDAQ Listing Rule 5250(c)(1) as a result of the company’s delay in filing its Form 10-Q. The NASDAQ letter states that the company is required to submit a plan to regain compliance with NASDAQ’s filing requirements for continued listing within 60 calendar days of the date of the NASDAQ notification letter. The company anticipates that it will submit the required plan to regain compliance within the 60-day period and that it will file its Form 10-Q as soon as practicable. The company anticipates that it will fully regain compliance with the NASDAQ continued listing requirements upon such filing of its Form 10-Q.

SciClone Pharmaceuticals, Inc. announced that it has entered into an agreement with Zensun (Shanghai) Science & Technology Co., Ltd. granting SciClone a license and the exclusive rights in China, Hong Kong and Macau to promote, market, distribute and sell Neucardin(TM), a novel, first-in-class therapeutic drug for the treatment of patients with intermediate to advanced chronic heart failure. Neucardin is a genetically engineered recombinant peptide fragment of neuregulin-1 that has been clinically shown to directly improve cardiac function, reverse ventricular remodeling and increase the survival of heart failure patients. Six Phase 2 studies with Neucardin have been conducted in China, Australia and the United States, including three Phase 2b studies in China. The China Phase 2b survival study demonstrated that Neucardin was well tolerated and showed a significant decrease in mortality and improved survival in patients with CHF. A New Drug Application (NDA) was submitted to and accepted by the China Food and Drug Administration (CFDA) in 2012.

SciClone Pharmaceuticals, Inc. anticipated financial results for the first quarter of 2013. The company expects revenues for the quarter ended March 31, 2013 is $29.8 million, a decrease of 27% compared to revenues for the same period of the prior year of $41.1 million. For the first quarter of 2013, ZADAXIN reported revenues are expected to be $19.0 million, compared to revenues for the same period in the prior year of $29.7 million, a decrease of 36%. Net income for the first quarter of 2013 is expected to be $3.9 million, compared to $9.7 million for the same period in the prior year, or $0.07 per share on both a basic and diluted basis compared to $0.17 and $0.16 per share on a basic and diluted basis, respectively, for the same period in the prior year, assuming an accounting basis consistent with the company's financial statements for the 2012 year-end. The company estimates that if it determined to change its accounting treatment for the Sanofi contracts, net income would be between approximately $2 million and $2.5 million lower for the first quarter of 2013.