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CuraGen Reports Fourth Quarter 2008 Financial Results; Provides Milestone and Financial Guidance for First Half of 2009
Date:1/29/2009

ear Ended December 31, December 31, ------------ ------------ 2008 2007 2008 2007 ---- ---- ---- ---- (unaudited) (unaudited) Collaboration revenue $- $22 $1,174 $88 -- --- ------ --- Operating expenses: Research and development 2,617 6,299 15,076 36,779 General and administrative 916 2,026 5,151 11,657 Restructuring charges 529 2,737 529 11,274 --- ----- --- ------ Total operating expenses 4,062 11,062 20,756 59,710 ----- ------ ------ ------ Gain on sale of intangible asset - - 36,397 - ------ (Loss) income from operations (4,062) (11,040) 16,815 (59,622) Interest income 713 1,478 3,356 5,583 Interest expense (213) (995) (1,687) (5,167) Gain on extinguishment of debt - 8,273 6,991 8,442 Realized (loss) gain on sale of available-for- sale investments, net (200) (312) (372) 616 ---- ---- ---- --- (Loss) income from continuing operations before income taxes (3,762) (2,596) 25,103 (50,148) Income tax benefit (p
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