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Advanced Life Sciences Announces Third Quarter 2008 Financial Results


The company ended the third quarter of 2008 with cash and cash equivalents totaling $7.8 million including $1.7 million from the sale of its common stock to Wyeth. Cash usage in the third quarter 2008 was approximately $3.0 million.

Operating Expense Analysis

* Research and development expenses were $11.2 million for the three

months ended September 30, 2008 compared to $3.8 million for the three

months ended September 30, 2007. The increase in R&D expense is

primarily due to the NDA submission milestone payment to Abbott


* Selling, general and administrative expenses totaled $1.8 million

compared to $2.0 million for the second quarter of last year.

Recent Achievements

* Signed development and commercialization agreement with Wyeth for

cethromycin in Asia Pacific Region;

* Submitted NDA for cethromycin in mild-to-moderate community acquired


* Entered into debt and equity financing agreements to strengthen the

balance sheet and help fund commitments associated with the NDA

submission and pre-commercialization activities;

* Awarded contract by the Defense Threat Reduction Agency (DTRA) of the

U.S. Department of Defense worth up to $3.8 million to further study

cethromycin as a potential broad-spectrum medical countermeasure over

two years;

* Presented posters and met with cethromycin National Advisory Board at

the October ICAAC/IDSA conference in Washington, DC;

* Announced and initiated collaboration with UK Ministry of Defence to

evaluate the developmental compound ALS-886 as a treatment for

chemically induced lung injury.

Anticipated Fourth Quarter 2008 Milestones

In the fourth quarter 2008, we anticipate achieving the following milestones:

* Advance discussions with prospective U.S. and E.U. partners for the

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