Biopure Announces 2008 First Quarter Financi...(BIOPURE CORPORATION CONDEN...)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

(Unaudited)

Three Months Ended

January 31

2008 2007

Total revenues $573 $594

Cost of revenues 2,788 3,162

Gross loss (2,215) (2,568)

Operating expenses:

Research and development 1,487 1,915

Sales and marketing 280 392

General and administrative 1,996 2,231

Total operating expenses 3,763 4,538

Loss from operations (5,978) (7,106)

Other income, net 176 178

Net loss $(5,802) $(6,928)

Basic and diluted net loss per

common share $(0.17) $(0.53)

Weighted-average common shares

outstanding 33,918 12,955

The net loss per common share for the three month period ended January 31,

2007 has been adjusted to reflect the one-for-five reverse split that took

effect on October 2, 2007.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

(Unaudited)

January 31, 2008 October 31, 2007

Assets

Total current assets $14,443
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