ARIUS announces fourth quarter and year-end fiscal 2007 financi...($ $ $ -----...)

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Revenue:

Research contract 746,780 - 746,780

Product 158,942 - 158,942

Licensing fees 165,012 2,678,087 3,284,703

Research grant payments 73,360 169,674 273,663

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1,144,094 2,847,761 4,464,088

Expenses:

Research and development,

net of tax credits of

$200,000 (2005 - $200,000) 8,606,344 5,688,029 25,398,579

General and administrative 3,257,430 2,833,802 10,997,811

Foreign exchange loss (gain) 764,695 (38,626) 710,836

Interest expense 2,874 752,910 904,397

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12,631,343 9,236,115 38,011,623

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Loss before the undernoted (11,487,249) (6,388,354) (33,547,535)

Interest income 679,457 726,308 2,045,292

Loss on extinguishment of debt - (782,143) (782,143)

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Loss before income taxes (10,807,792) (6,444,189) (32,284,386)

Income taxes:

Current (249,247) - (249,247)

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Loss and comprehensive loss

for the period (11,057,039) (6,444,189) (32,533,633)

Deficit, beginning of period: (21,476,594)
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