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Advanced Life Sciences Announces Fourth Quarter and Full Year 2007 Financial Results
Date:2/19/2008

ms 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)

Year Ended December 31,

CONSOLIDATED BALANCE SHEETS 2007 2006

(Unaudited)

ASSETS

CURRENT ASSETS:

Cash and cash equivalents $18,324,991 $27,054,947

Prepaid insurance 251,493 380,083

Prepaid clinical trial expenses 926,168 2,364,512

Other prepaid expenses and deposits 140,359 273,572

Total current assets 19,643,011 30,073,114

PROPERTY AND EQUIPMENT:

Furniture and fixtures 221,417 250,308

Laboratory equipment 159,186 142,928

Computer software and equipment 242,707 231,022

Leasehold improvements 177,253 182,839

Total property and equipment - at cost 800,563 807,097

Less accumulated depreciation (542,032) (398,486)

Property and equipment - net 258,531 408,611

OTHER LONG-TERM ASSETS:

Deferred financing costs - 26,502

Other assets 10,000 1,452

Total other long-term assets 10,000 27,954
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SOURCE Advanced Life Sciences Holdings, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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