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

s - (1,179) (2,991) (2,675)

Gain on sale of subsidiary - - 78,352 -

Net (loss) income from discontinued

operations - (1,179) 75,361 (2,675)

Net (loss) income ($2,571) ($15,796) $25,398 ($59,839)

Basic and diluted net loss per

share from continuing operations ($0.05) ($0.27) ($0.89) ($1.04)

Basic and diluted net (loss) income

per share from discontinued

operations - (0.02) 1.35 (0.05)

Basic and diluted net (loss) income

per share ($0.05) ($0.29) $0.45 ($1.09)

Weighted average number of shares

used in computing basic and

diluted net (loss) income per

share 56,279 54,784 55,853 54,896

SELECTED BALANCE SHEET INFORMATION

December 31, December 31,

2007 2006

(unaudited)

Cash and investments $100,444 $164,393

Restricted cash 14,533 -

Total cash and investments and

restricted cash 114,977 164,393

Working capital 107,844 95,985

Total assets 119,282 227,294

4% Convertible subordinated notes due 2011 69,890 110,000

6% Convertible subordinated debentures

due 2007 - 66,228

Total convertible subordinated

notes and debentures 69,890 176,228

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SOURCE CuraGen Corporation
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