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GeneNews Announces Second Quarter Results
Date:8/7/2008

p>Expenses

Research and

development 3,044,225 1,772,371 5,229,981 4,361,474

General and

administrative 806,675 643,191 1,319,236 1,315,266

Stock

compensation 352,264 131,747 494,538 278,186

Amortization of

intellectual

property 110,537 110,537 221,074 221,074

Interest on long

term debt 28,172 1,538 58,700 4,191

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4,341,872 2,659,384 7,323,528 6,180,191

Interest income 58,634 357,865 159,694 541,186

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Net and

comprehensive

loss for the

period $ (3,994,800) $ (2,301,519) $ (6,581,110) $ (3,972,769)

Deficit, beginning

of period (35,934,440) (25,385,336) (33,348,130) (23,714,086)

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Deficit, end

of period $(39,929,240) $(27,686,855) $(39,929,240) $(27,686,855)

-------------------------------------------------------------------------

-------------------------------------------------------------------------

Net and

comprehensive

loss per common

share

Basic and fully

diluted $ (0.07) $ (0.04) $ (0.12) $ (0.07)

-------------------------------------------------------------------------

-------------------------------------------------------------------------

Weighted average

number of common

shares outstanding

Basic and fully

diluted 55,623,367 55,441,019 55,571,069 55,441,019

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SOURCE GeneNews Limited
Copyright©2008 PR Newswire.
All rights reserved

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