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Emisphere Technologies, Inc. Announces 2007 Fourth Quarter and Year End Financial Results
Date:3/17/2008

t year) and general and administrative expenses of $14.5 million (an increase of $2.8 million or 24% compared to last year). Other income for the year ended December 31, 2007 was $3.7 million, compared to other expense of $14.6 million in the year ended December 31, 2006.

Weighted average basic shares outstanding for the year ended December 31, 2007 were 29 million and 29.1 diluted, versus 26.5 million for both basic and diluted December 31, 2006.

CORPORATE AND PRODUCT DEVELOPMENTS

Emisphere recently announced that animal studies have demonstrated proof of concept that absorption of oral Vitamin B12 using the Company's proprietary eligen(R) Technology is 15-30 times greater than with the same dose of oral Vitamin B12 administered alone. The Company believes this data demonstrates a potential commercial avenue for its technology that can have a positive impact on the lives of patients.

There are at least five million people in the United States receiving 40 million B12 injections annually to treat a variety of debilitating medical conditions, and at least an additional five million people are consuming over 600 million tablets of B12 of various strengths annually. The Company believes that 40 million injections suggests a need for an oral B12 preparation that can deliver therapeutic levels of B12, and that the megadoses being consumed as tablets are further evidence of this need. The Company's current timeline includes conducting clinical human trials beginning as early as the third quarter of 2008.

Emisphere has two Phase III product candidates based on the compound Salmon Calcitonin in collaboration with Novartis Pharma AG and its development partner, Nordic Bioscience. One product relates to the prevention of osteoporosis and the other product relates to the prevention of osteoarthritis. The osteoarthritis product has the potential to be the first disease-modifying drug that could halt progression of the illness, rather than trea
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SOURCE Emisphere Technologies, Inc.
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