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CuraGen Reports Fourth Quarter and Year End 2007 Financial Results
Date:1/31/2008

information, future events or otherwise.

Contact:

Glenn Schulman, PharmD

Director of Investor Relations

gschulman@curagen.com

(888) 436-6642

CURAGEN CORPORATION AND SUBSIDIARY

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

Three Months Ended Year Ended

December 31, December 31,

2007 2006 2007 2006

(unaudited) (unaudited)

Collaboration revenue $22 $14 $88 $2,298

Operating expenses:

Research and development 6,299 10,870 36,779 44,009

General and administrative 2,026 3,362 11,657 13,648

Restructuring charges 2,737 - 11,274 -

Total operating expenses 11,062 14,232 59,710 57,657

Loss from operations (11,040) (14,218) (59,622) (55,359)

Interest income 1,474 1,718 5,534 7,170

Interest expense (995) (2,332) (5,167) (9,351)

Realized (loss)/gain on sale of

available-for-sale investments,

net (308) - 665 -

Gain on extinguishment of debt 8,273 - 8,442 -

Loss from continuing operations

before income tax benefit (2,596) (14,832) (50,148) (57,540)

Income tax benefit 25 215 185 376

Loss from continuing operations (2,571) (14,617) (49,963) (57,164)

Discontinued operations:

Loss from discontinued

operation
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SOURCE CuraGen Corporation
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