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GeneNews Announces First Quarter Results
Date:5/2/2008

294,286 1,666,236

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EXPENSES

Research and development 2,185,756 2,667,360

General and administrative 512,560 593,819

Stock-based compensation 142,274 146,439

Amortization of intellectual property 110,537 110,537

Interest on long-term debt 30,528 2,653

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2,981,655 3,520,808

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Interest income 101,060 183,321

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Net and comprehensive loss for the period (2,586,310) (1,671,251)

Deficit, beginning of period (33,348,130) (23,714,085)

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Deficit, end of period (35,934,440) (25,385,336)

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Net and comprehensive loss per common share

Basic and fully diluted $(0.05) $(0.03)

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Weighted average number of common

shares outstanding

Basic and fully diluted 55,518,769 55,431,359

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SOURCE GeneNews Limited
Copyright©2008 PR Newswire.
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