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Genomic Health Announces First Quarter 2008 Financial Results and Business Progress
Date:5/6/2008

contracts in place.

Cost of product revenue was $5.9 million in the first quarter of 2008, compared to $3.8 million for the first quarter of 2007.

Research and development expenses for the first quarter of 2008 were $6.4 million, compared to $5.2 million for the same period in 2007. Selling and marketing and general and administrative expenses for the first quarter of 2008 were $18.3 million, compared to $12.2 million for the same period in 2007.

Included in first quarter 2008 spending was $2.3 million of stock-based compensation expense, compared to $1.3 million of stock-based compensation expense in the same period in 2007.

Net loss was $6.6 million in the first quarter of 2008, compared to $6.9 million in the first quarter of 2007. Excluding stock-based compensation expense, net loss was $4.3 million in the first quarter of 2008, compared to $5.6 million in the same period in 2007. Basic and diluted net loss per share applicable to common stockholders was $0.24 in the first quarter of 2008, compared to a net loss per share of $0.28 in the first quarter of 2007.

"We continue to expect a narrower net loss for the full year 2008, in the range of $15 to $20 million, while we continue to invest in our product pipeline and commercial and clinical laboratory infrastructure," said Brad Cole, Chief Financial Officer of Genomic Health.

Cash and cash equivalents and investments at March 31, 2008 were $65.4 million, compared to $68.4 million at December 31, 2007.

Recent Highlights and Accomplishments

Peer-Reviewed Publications and Medical Meeting Presentations

-- Three abstracts on the impact of the Oncotype DX breast cancer assay on

treatment decisions were presented at the 2008 Annual Meeting of the

American Society of Breast Surgeons.

-- Two abstracts have been accepted for presentation at the 2008 Annual

Meeting of the American Society of Clinical Oncology, May 30 to Jun
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SOURCE Genomic Health, Inc.
Copyright©2008 PR Newswire.
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