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Biopure Announces 2008 Second Quarter Financial Results
Date:5/21/2008

ial endorsement should be inferred.

Contact: Tiana Gorham

Biopure Corporation

(617) 234-6826

IR@biopure.com

BIOPURE CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

(Unaudited)

Three Months Ended Six Months Ended

April 30 April 30

2008 2007 2008 2007

Total revenues $902 $619 $1,475 $1,213

Cost of revenues 1,813 2,775 4,601 5,937

Gross loss (911) (2,156) (3,126) (4,724)

Operating expenses:

Research and development 1,756 1,864 3,243 3,779

Sales and marketing 448 366 728 758

General and administrative 1,947 2,027 3,948 4,258

Total operating expenses 4,151 4,257 7,919 8,795

Loss from operations (5,062) (6,413) (11,045) (13,519)

Other income, net 201 193 377 371

Net loss $(4,861) $(6,220) $(10,668) $(13,148)

Basic and diluted net loss

per common share $(0.14) $(0.40) $(0.31) $(0.92)

Weighted-average common

shares outstanding 34,971 15,562 34,439 14,237

The net loss per common share for the three and six month periods ended

April 30, 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)

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SOURCE Biopure Corporation
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