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Anesiva Announces Fourth Quarter and Year-End 2007 Financial Results and Provides 2008 Outlook
Date:2/11/2008

t loss for the year ended December 31, 2007 was $59.4 million, or $2.12 per share, and for the year ended December 31, 2006, the net loss was $55.6 million, or $2.69 per share.

As of December 31, 2007, cash, cash equivalents and investments were $90.8 million compared to $54.5 million at September 30, 2007. Anesiva completed a public offering of 12.3 million shares of its common stock in December 2007. The net proceeds, after deducting underwriting discounts and offering expenses, were approximately $47.7 million. Common shares issued and outstanding totaled approximately 40.4 million at December 31, 2007.

2008 Outlook

With the $47.7 million in net proceeds from the December 2007 common stock offering and $90.8 million in cash, cash equivalents and investments as of December 31, 2007, the company has sufficient resources to fund anticipated expenses for all of 2008 and into 2009. Anesiva plans to update this guidance, including estimated 2008 operating expenses, going forward. The company also plans to provide projections related to Zingo sales in the second half of 2008
In 2008, Anesiva anticipates accomplishing the following milestones:

-- File a supplemental New Drug Application for Zingo in the first quarter

of 2008 to expand the label to include adults;

-- Continue manufacturing preparations to support commercial introduction

of Zingo in the second quarter of 2008;

-- Initiate a Phase 3 trial evaluating Adlea in bunionectomy surgeries,

expected to occur imminently;

-- Initiate a Phase 3 trial evaluating Adlea in total knee replacement

surgeries in the first half of 2008;

-- Initiate additional Phase 2 trials in 2008 evaluating Adlea in

osteoarthritis of the knee and in arthroscopic shoulder surgeries;

-- Report data from Phase 2 trial of Adlea in total knee replacement

surgeries and Phase 3 trial in bunionectomy surgeries;

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SOURCE Anesiva, Inc.
Copyright©2008 PR Newswire.
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