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Advanced Life Sciences Announces First Quarter 2008 Financial Results
Date:5/7/2008

r ability to serve those markets; regulatory developments in the U.S. and foreign countries; the rate and degree of market acceptance of any future products; the accuracy of our estimates regarding expenses, future revenues and capital requirements; our ability to obtain financing on terms acceptable to us; our ability to obtain and maintain intellectual property protection for our product candidates; the successful development of our sales and marketing capabilities; the success of competing drugs that become available; and the performance of third party collaborators and manufacturers. These and additional risks and uncertainties are detailed in the Company's filings with the Securities and Exchange Commission.

ADVANCED LIFE SCIENCES HOLDINGS, INC. AND SUBSIDIARY

(A Development Stage Company)

CONSOLIDATED BALANCE SHEETS March 31, December 31,

(Unaudited) 2008 2007

ASSETS

CURRENT ASSETS:

Cash and cash equivalents $12,589,640 $18,324,991

Prepaid insurance 155,953 251,493

Prepaid clinical trial expenses - 926,168

Other prepaid expenses and deposits 93,500 140,359

Total current assets 12,839,093 19,643,011

PROPERTY AND EQUIPMENT:

Furniture and fixtures 227,825 221,417

Laboratory equipment 159,186 159,186

Computer software and equipment 245,812 242,707

Leasehold improvements 502,798 177,253

Total property and equipment-at cost 1,135,621 800,563

Less accumulated depreciation (595,429) (542,032)

Property and equipment-net 540,192 258,531

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SOURCE Advanced Life Sciences Holdings, Inc.
Copyright©2008 PR Newswire.
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