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Anesiva Announces Second Quarter 2008 Financial Results and Update
Date:8/7/2008

red to $27.4 million for the six months ended June 30, 2007, and include $3.2 million and $4.5 million in non-cash stock-based compensation in the 2008 and 2007 periods, respectively.

Operating expenses during the quarter primarily related to the continued development and commercial preparations to launch, Zingo, a fast-acting, needle-free, local anesthetic, for the pediatric indication. Additional operating expenses related to the ongoing development of Adlea, which is being evaluated in Phase 3 trials for the treatment of acute pain following total knee replacement surgeries and bunionectomy surgeries.

For the second quarter of 2008, the net loss was $21.9 million, or $0.54 per share. In the second quarter of 2007, the net loss was $13.8 million, or $0.51 per share. The net loss for the six months ended June 30, 2008 was $43.4 million, or $1.08 per share, and for the six months ended June 30, 2007, the net loss was $25.5 million or $0.93 per share.

As of June 30, 2008, cash, cash equivalents and investments were $48.7 million compared to $90.8 million at December 31, 2007. The company believes it has sufficient resources to fund anticipated expenses for the remainder of 2008 and into 2009.

Commercial and Product Development Updates:

Zingo

-- Following the Zingo U.S. commercial launch in late June, Anesiva began

supplying hospitals in its target pediatric market. The early phase of

the Zingo launch is focused on supporting initial product experiences

and formulary review and acceptance processes in these institutions.

Commenting on the initial Zingo launch, Nancy E. Donahue, senior vice president, sales and marketing, said, "While it is too early to provide meaningful sales metrics as we are just six weeks into the launch, initial qualitative feedback from healthcare providers who have used Zingo suggests that they are very pleased with its performance and ease of use. We continue to
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SOURCE Anesiva, Inc.
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