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Advanced Life Sciences Announces 2008 Fourth Quarter and Full Year Financial Results
Date:2/11/2009

CHICAGO, Feb. 11 /PRNewswire-FirstCall/ -- Advanced Life Sciences Holdings, Inc. (Nasdaq: ADLS), a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, cancer and respiratory diseases, today announced its financial results for the fourth quarter and full year ended December 31, 2008.

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The net loss allocable to common shareholders for the three months ended December 31, 2008 was $2.8 million or ($0.07) per share compared to a net loss allocable to common shareholders of $5.6 million or ($0.18) per share for the three months ended December 31, 2007. The net loss allocable to common shareholders for the full year 2008 was $23.0 million or ($0.59) per share compared to a net loss allocable to common shareholders of $32.5 million or ($1.12) per share for 2007. The decrease in the net loss for the full year 2008 is due to decreased costs involved in the clinical development of the Company's lead compound cethromycin.

The Company used approximately $12.2 million in cash in the fourth quarter of 2008 and ended the year with cash totaling $1.5 million. Cash use for the full year was $24.5 million. Fourth quarter and full year cash use included a $10.0 million milestone payment to Abbott Laboratories associated with the submission of the New Drug Application (NDA) for cethromycin.

"2008 was a transformative year in Advanced Life Sciences' history, marking our transition from a development-stage to a pre-commercial company, working toward the market launch of our first product," said Dr. Michael Flavin, Chairman and CEO of Advanced Life Sciences. "With the successful
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SOURCE Advanced Life Sciences Holdings, Inc.
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