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Ardea Biosciences Reports Recent Accomplishments and Announces First Quarter 2011 Financial Results
Date:5/9/2011

same period in 2010 of $10.1 million, or $0.54 per share.  The increase in net loss per share for the three months ended March 31, 2011 compared to the same period in 2010 was a result of the increase in net loss, partially offset by an increase in weighted-average shares outstanding in 2011 as a result of our April 2010 and February 2011 public offerings of common stock.ARDEA BIOSCIENCES, INC.Condensed Consolidated Statements of Operations(in thousands, except per share amounts)Three Months Ended

March 31,

(Unaudited)20112010Revenues: License fees

$

1,077$

2,426 Sponsored research90— Reimbursable research and development costs603847Total revenues1,7703,273Operating expenses: Research and development12,71510,251 General and administrative4,2492,926Total operating expenses16,96413,177Loss from operations(15,194)(9,904)Other income (expense): Interest income10769 Interest expense(134)(261) Other income, net313Total other income (expense)(24)(179)Net loss

$

(15,218)$

(10,083)Basic and diluted net loss per share

$

(0.59)$

(0.54)Shares used in computing basic and diluted net loss per share 25,78218,559Condensed Consolidated Balance Sheet Data(in thousands)March 31,

2011

(Unaudited)December 31,

2010Cash, cash equivalents and short-term investments

$

156,805$

80,612Total assets

$

162,169$

100,454Total stockholders' equity

$

143,368$

77,123About Ardea Biosciences, Inc.Ardea Biosciences, Inc., of San Diego, California, is a biotechnology company focused on the development of small-molecule therapeutics for the treatment of serious diseases. Lesinurad (RDEA594), our lead product candidate for the treatment of hyperuricemia and gout, is a once-daily, oral inhibitor of the URAT1 transporter.  We have completed Phase 2b clinical studies of lesinurad and continue t
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Related biology technology :

1. Ardea Biosciences Reports Recent Accomplishments and Announces Fourth Quarter and Full-Year 2010 Financial Results
2. Ardea Biosciences Announces Exercise in Full of Overallotment Option for Common Stock Offering
3. Ardea Biosciences Prices Public Offering of Common Stock
4. Ardea Biosciences Announces Positive Top-Line Results from Phase 2b Combination Study of RDEA594 in Allopurinol-Refractory Gout Patients
5. Ardea Biosciences to Present at Two Upcoming Investor Conferences
6. Ardea Biosciences Awarded a $733,438 Grant from the U.S. Government Under the Patient Protection and Affordable Care Act
7. Ardea Biosciences to Present at the Oppenheimer 21st Annual Healthcare Conference
8. Ardea Biosciences Announces Appointment of Felix J. Baker, Ph.D. to Board of Directors
9. Ardea Biosciences to Present at the Piper Jaffray 21st Annual Health Care Conference
10. Cardea Technology Inc and Optasia Medical Ltd Announce Plans to Collaborate to Optimize Their Vertebral Fracture Assessment Tools
11. Ardea Biosciences to Present at the UBS Global Life Sciences Conference and the Third Annual JMP Securities Healthcare Focus Conference
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