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

RS' EQUITY $13,398,035 $19,911,542

ADVANCED LIFE SCIENCES HOLDINGS, INC. AND SUBSIDIARY

(A Development Stage Company)

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

Period From

Inception

Three months ended (January 1, 1999)

March 31, Through

2008 2007 March 31, 2008

Revenue:

Management fees $- $- $1,161,180

Grants - - 1,035,571

Royalty-related party - - 45,238

Total revenue - - 2,241,989

Expenses:

Research and development 1,868,054 9,050,912 76,739,162

Contracted research and

development-related party - - 7,980,299

Selling, general and

administrative 1,726,366 1,548,163 21,658,454

Total expenses 3,594,420 10,599,075 106,377,915

Loss from operations (3,594,420) (10,599,075) (104,135,926)

Net other income:

Interest income (156,641) (306,569) (2,798,657)

Interest expense 104,355 116,434 2,727,505

Gain on sale of interest in

Sarawak Medichem

Pharmaceuticals joint venture - - (939,052)

Net other income (52,286) (190,135) (1,010,204)

Net loss (3,542,134) (10,408,940) (103,125,722)

Less accumulated preferred

stock dividends of

subsidiary for the period 43,750 43,750 1,538,542

Net
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SOURCE Advanced Life Sciences Holdings, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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