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Biopure Announces 2008 Third Quarter Financial Results
Date:8/21/2008

Total operating expenses 2,995 4,066 10,912 12,861

Loss from operations (4,649) (6,605) (15,692) (20,124)

Other income, net 53 157 438 528

Net loss $(4,596) $(6,448) $(15,254) $(19,596)

Basic and diluted net

loss per common share $(0.13) $(0.41) $(0.44) $(1.33)

Weighted-average common

shares outstanding 35,602 15,591 34,829 14,693

The net loss per common share for the three and nine month periods ended July 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)

July 31, 2008 October 31, 2007

Assets

Total current assets $5,918 $5,253

Net property and equipment 7,199 8,398

Other assets 610 599

Total assets $13,727 $14,250

Liabilities and stockholders' equity

Total current liabilities $2,176 $3,368

Deferred revenue, net of current portion 1,177 1,177

Other long term liabilities - 41

Total liabilities 3,353 4,586

Total stockholders' equity 10,374 9,664

Total liabilities and stockholders' equity $13,727 $14,250


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SOURCE Biopure Corporation
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