AspenBio Pharma Reports Second Quarter 20... (tatements are not guarantees of future p...)

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AspenBio Pharma Reports Second Quarter 2007 Results

Date:8/20/2007

tatements are not guarantees of future performance. Actual results or developments may differ materially from those projected in the forward-looking statements as a result of many factors, including the ability to successfully complete the development of new products, execute agreements required to successfully advance the company's objectives, retain the scientific management team to advance the products, overcome adverse changes in market conditions and the regulatory environment, fluctuations in sales volumes, and realization of intangible assets. Furthermore, APNB does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this news release should be considered in conjunction with the warnings and cautionary statements contained in APNB's recent filings with the SEC.

For more information contact:

AspenBio Pharma, Inc.

Gregory Pusey, Chairman

Tel 303-722-4008

Investor Relations:

Liolios Group, Inc.

Scott Liolios or Ron Both

Tel 949-574-3860

AspenBio Pharma, Inc.

Periods Ended June 30, (Unaudited)

Condensed Statements of Operations

(In thousands, except per Three Months Ended Six Months Ended

share data) 2007 2006 2007 2006

Sales $ 177 $ 112 $ 513 $ 348

Gross profit 30 55 195 178

Other revenue - fee - - - 50

Operating Expenses:

Selling, general and

administrative

(includes non cash

compensation of $217;

$135; $499 and $189) 632 466 1,358 936

Research and

development 544 301 839 612

Operating loss (1,147) (
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SOURCE AspenBio Pharma, Inc.

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AspenBio Pharma Reports Second Quarter 20...(tatements are not guarantees of future p...)