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Advanced Life Sciences Announces Third Quarter 2008 Financial Results

2008 2007


Management fees $- $-

Grants 32,006 -

Royalty-related party - -

Total revenue 32,006 -


Research and development 11,240,032 3,838,184

Contracted research and

development-related party - -

Selling, general and administrative 1,828,607 2,004,357

Total expenses 13,068,639 5,842,541

Loss from operations (13,036,633) (5,842,541)

Net other (income) expense:

Interest income (51,244) (117,332)

Interest expense 103,277 116,998

Gain on sale of interest in Sarawak

Medichem Pharmaceuticals joint

venture - -

Net other (income) expense 52,033 (334)

Net loss (13,088,666) (5,842,207)

Less accumulated preferred stock

dividends of subsidiary for the

period 43,750 43,750

Net loss available to common

shareholders $(13,132,416) $(5,885,957)

Net loss per share available to

common shareholders - basic and

diluted $(0.34) $(0.21)

Weighted average shares outstanding -

basic and diluted 38,568,464 28,294,677


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

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