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Cadus Reports Second Quarter 2008 Results
Date:8/14/2008

Total revenues $ -- $ --

Costs and expenses:

General and administrative expenses 100,877 90,507

Amortization of patent costs 21,609 21,609

(Income) from equity in other ventures (1,802) (2,849)

Total costs and expenses 120,684 109,267

Operating loss (120,684) (109,267)

Other income:

Interest income 172,012 328,995

Gain on sale of securities 3,125 --

Income before provision for income taxes 54,453 219,728

Provision for income taxes 1,658 768

Net income $ 52,795 $218,960

Basic and diluted income per weighted

average share of common stock outstanding $ -- $ 0.02

Weighted average shares of common stock

outstanding - basic and diluted 13,144,040 13,144,040

CADUS CORPORATION

Condensed Consolidated Statements of Operations

(Unaudited)

Six Months Ended

June 30,

2008 2007

License and maintenance fees $ 100,000 $ 100,000

Total revenues 100,000 100,000

Costs and expenses:

General and administrative expenses 346,153 382,991

Amortization of patent costs 43,217 43,216

(Income) from equity in other ventures (4,078) (6,070)

Total costs and expenses
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SOURCE Cadus Corporation
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