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Cadus Reports First Quarter 2008 Results
Date:5/15/2008

March 31, December 31,

2008 2007

(Unaudited) (Audited)

Current assets:

Cash and cash equivalents $10,280,130 $2,444,376

Short term investments 14,953,960 22,960,545

Interest receivable 46,186 102,518

Prepaid and other current assets 126,150 1,150

Total current assets 25,406,426 25,508,589

Investment in other ventures 189,066 186,790

Patents, net 529,226 550,834

Total assets $26,124,718 $26,246,213

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accrued expenses and other

current liabilities $108,853 $22,352

Total current liabilities 108,853 22,352

Commitments

Stockholders' equity:

Common stock 132,857 132,857

Additional paid-in capital 59,847,149 59,847,149

Accumulated deficit (33,664,066) (33,456,070)

Treasury stock (300,075) (300,075)

Total stockholders' equity 26,015,865 26,223,861

Total liabilities and

stockholder's equity $26,124,718 $26,246,213

CADUS CORPORATION

Condensed Consolidated Statements of Operations

Three Months Ended

March 31,


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SOURCE Cadus Corporation
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