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

Operating loss: (7,822) (463) (17,929) (1,684)

Interest income 509 635 1,688 1,731

Other income, net 4 4 188 2

Net income (loss) (7,309) 176 (16,053) 49

Non-cash dividends on Series A

preferred stock (60) (60) (180) (180)

Net income/(loss) applicable to

common stockholders $(7,369) $116 $(16,233) $(131)

Basic net income/(loss) per

share applicable to common

stockholders $(0.72) $0.01 $(1.67) $(0.01)

Diluted net income/(loss) per

share applicable to common

stockholders $(0.72) $0.01 $(1.67) $(0.01)

Weighted average shares used to

compute basic net

income/(loss) per share applicable

to common stockholders 10,182 9,334 9,716 9,316

Weighted average shares used to

compute diluted net income/(loss)

per share applicable to common

stockholders 10,182 11,560 9,716 9,316

The accompanying notes are an integral part of these financial statements.

Condensed Balance Sheet Data

(In thousands)

September 30, December 31,

2007 2006

Cash, cash equivalents and

short-term investments $35,586 $48,669

Total assets $37,801 $50,240

Total stockholders' equity $34,620 $49,064


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SOURCE Ardea Biosciences, Inc.
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