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AspenBio Pharma Reports Second Quarter 2007 Results
Date:8/20/2007

on, and worldwide marketing of both BoviPure LH and BoviPure FSH bovine drugs.

Mr. Donnelly added, "Our financial condition and performance are very positive indicators of our ability to pursue our strategies on an orderly basis. The levels of research and investment we've made during the second quarter have accelerated our priority projects and have brought us to very strong positions on a number of fronts. We will continue to focus on the best ways to enhance shareholder value. This includes seeking an alternative stock exchange listing and exploring the ideal timing for licensing and partnering of our high-value products as they advance to the final stages of development in the second half of 2007."

Financial Results

For the three month and six month periods ended June 30, 2007, as compared to the same periods a year ago:

-- Sales for the three and six month periods ended June 30, 2007 totaled

$176,500 and $512,600, respectively. This represents an increase of 58%

and 47%, respectively, over last year. The improvement includes a large

sale to a major new international customer.

-- Research and development expenses totaled $544,300 and $838,600 for the

three and six month periods ended June 30, 2007. This represents an

increase of 81% and 37%, respectively, over last year.

-- Net loss totaled $1,083,800 or ($0.04) per share and $1,952,200 or

($0.08) per share, for the three and six month periods ended June 30,

2007, versus a net loss of $750,400 or ($0.04) per share and $1,401,400

or ($0.08) per share a year ago. Non-cash expenses for depreciation,

amortization and stock-based compensation totaled $631,500 in the six

months ended June 30, 2007, a $325,000 increase over the $306,600

reported in the same year-ago period.

-- Cash and cash equivalents totaled $11,162,000, working capital totaled

$10,911,400, and tota
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SOURCE AspenBio Pharma, Inc.

Copyright©2007 PR Newswire.

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