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Ardea Biosciences, Inc. Reports Third Quarter 2007 Operating and Financial Results
Date:11/14/2007

ward-looking statements. Such statements include, but are not limited to, statements regarding: Ardea's goals, including its goal of initiating clinical studies on four compounds this year, the initiation of a program to evaluate RDEA119 in inflammatory diseases and its 2007 year-end cash projection. Risks that contribute to the uncertain nature of the forward-looking statements include: risks related to the outcomes of preclinical and clinical trials, risks related to regulatory approvals, delays in commencement of preclinical and clinical tests, and costs associated with internal development and in-licensing activities. These and other risks and uncertainties are described more fully in Ardea's most recently filed SEC documents, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, under the headings "Risk Factors." All forward-looking statements contained in this press release speak only as of the date on which they were made. Ardea undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

ARDEA BIOSCIENCES, INC.

(formerly IntraBiotics Pharmaceuticals, Inc)

CONDENSED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

(Unaudited)

Three Months Ended Nine Months Ended

September 30, September 30,

2007 2006 2007 2006

Sponsored Research Revenue $1,077 $- $2,827 $-

Operating expenses:

Research and development 7,114 - 15,843 7

General and administrative 1,785 463 4,913 1,677

Total operating expenses 8,899 463 20,756 1,684


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SOURCE Ardea Biosciences, Inc.
Copyright©2007 PR Newswire.
All rights reserved

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