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CuraGen Reports Third Quarter 2008 Financial Results
Date:11/3/2008

September 30, September 30,

2008 2007 2008 2007

(unaudited) (unaudited)

Collaboration revenue $- $22 $1,174 $66

Operating expenses:

Research and development 3,453 8,074 12,459 30,480

General and administrative 1,076 2,568 4,235 9,631

Restructuring and other charges - 1,058 - 8,537

Total operating expenses 4,529 11,700 16,694 48,648

Gain on sale of intangible asset - - 36,397 -

(Loss) income from operations (4,529) (11,678) 20,877 (48,582)

Interest income 741 1,861 2,471 4,060

Interest expense (226) (1,273) (1,474) (4,172)

Gain on extinguishment of debt - 169 6,991 169

Gain on sale of long-term marketable

securities - 973 - 973

(Loss) income from continuing

operations before income taxes (4,014) (9,948) 28,865 (47,552)

Income tax benefit (provision) 32 50 (362) 160

(Loss) income from continuing

operations (3,982) (9,898) 28,503 (47,392)

Discontinued operations:

Loss from discontinued operations - - - (2,991)

Gain on sale of subsidiary - - - 78,352

Income from discontinued operations - - - 75,361

Net (loss) income ($3,982) ($9,898) $28,503 $27,969

Basic (loss) income per share from

continuing operations ($0.07) ($0.18) $0.50 ($0.85)

Basic income per share from

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SOURCE CuraGen Corporation
Copyright©2008 PR Newswire.
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