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

>

basic and diluted 38,502,987 28,294,380

Period From

Inception

Six months ended (January 1, 1999)

June 30, Through

2008 2007 June 30, 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 3,558,141 17,883,990 78,429,249

Contracted research and

development-related party - - 7,980,299

Selling, general and

administrative 3,408,972 3,358,412 23,341,060

Total expenses 6,967,113 21,242,402 109,750,608

Loss from operations (6,967,113) (21,242,402) (107,508,619)

Net other (income) expense:

Interest income (233,086) (521,064) (2,875,102)

Interest expense 207,019 233,270 2,830,169

Gain on sale of interest in

Sarawak Medichem

Pharmaceuticals joint venture - - (939,052)

Net other (income) expense (26,067) (287,794) (983,985)

Net loss (6,941,046) (20,954,608) (106,524,634)

Less accumulated preferred stock

dividends of subsidiary for the

period 87,500 87,500 1,582,292

Net loss available to common

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

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