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Advanced Life Sciences Announces Second Quarter 2008 Financial Results
Date:8/14/2008

NCED LIFE SCIENCES HOLDINGS, INC. AND SUBSIDIARY

(A Development Stage Company)

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

Three months ended June 30,

2008 2007

Revenue:

Management fees $- $-

Grants - -

Royalty-related party - -

Total revenue - -

Expenses:

Research and development 1,690,088 8,833,078

Contracted research and

development-related party - -

Selling, general and administrative 1,682,604 1,810,249

Total expenses 3,372,692 10,643,327

Loss from operations (3,372,692) (10,643,327)

Net other (income) expense:

Interest income (76,444) (214,495)

Interest expense 102,664 116,836

Gain on sale of interest in Sarawak

Medichem Pharmaceuticals joint venture - -

Net other (income) expense 26,220 (97,659)

Net loss (3,398,912) (10,545,668)

Less accumulated preferred stock dividends

of subsidiary for the period 43,750 43,750

Net loss available to common

shareholders $(3,442,662) $(10,589,418)

Net loss per share available to common

shareholders - basic and diluted $(0.09) $(0.37)

Weighted average shares outstanding -'/>"/>

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

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