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BioMarin Announces Third Quarter 2008 Financial Results
Date:10/28/2008

Nine Nine

months months

ended ended

September September 2008

Q3 Q3 30, 30, Management

2008 2007 2008 2007 Guidance

GAAP net

income (loss) $0.8 $(5.2) $6.3 $(18.4) $30.0 - $42.0

Non-cash

stock

compensation

expense 7.4 5.0 17.8 12.8 24.0 - 27.0

Non-GAAP net

income (loss) $8.2 ($0.2) $24.1 $(5.6) $54.0 - $69.0

Management believes that this non-GAAP information is useful to investors, taken in conjunction with BioMarin's GAAP information because Management uses such information internally for its operating, budgeting and financial planning purposes, and to enhance investors' overall understanding of the company's prospects for the future.

Anticipated Upcoming Milestones

-- 4Q08: Kuvan approval by EMEA and related $30 million milestone from

Merck Serono

-- 1Q09: Results from Phase 2 PAD trial

-- 1Q09: Results from BH4+Vitamin C study

-- 1Q09: Results from Phase 2 PAH trial

-- 1Q09: Results from proteinuria in chronic kidney disease trial

-- 1Q09: Initiation of Phase 1 trial for GALNS for MPS IVA

-- 1Q09/2Q09: Results from PEG-PAL Phase 1 trial

-- 1Q09/2Q09: Initiation of PEG-PAL Phase 2 trial

Upcoming Investor Conferences and Events

-- November 11-14: Credit Suisse Healthcare Conference

-- December 2-3: Piper Jaffray Healthcare Conference

BioMarin will host a conference call and webcast to discuss third quarter 2008 financial results today, Tuesday, October 28, at 5:00 p.m. ET (22:00 CET). This event can be accessed on the investor section of the BioMarin website at

SOURCE BioMarin Pharmaceutical Inc.
Copyright©2008 PR Newswire.
All rights reserved

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