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ImaRx Therapeutics Reports Business Update and Financial Results for Fourth Quarter and Full Year 2007
Date:3/31/2008

re attributable to common shareholders of $0.72 for the full year 2006 based on weighted average shares of approximately 2.6 million. The net loss per share attributable to common stockholders in all periods includes non-cash charges for accretion of preferred stock dividends and 2007 also includes the reversal of accreted preferred stock dividends and a deemed dividend on the conversion of preferred stock into common stock upon completion of the Company's initial public offering. The weighted average shares used in computing loss per share attributable to common shareholders excludes anti-dilutive securities such as stock options and warrants and also redeemable preferred stock in periods prior to their conversion to common stock upon completion of the Company's initial public offering.

Cost of product sales totaled $1.0 million and $3.5 million in the fourth quarter of 2007 and full year 2007, respectively. The cost of product sales was $0.2 million for the fourth quarter of 2006 and the full year 2006, as the Company acquired the urokinase product in April 2006 and commenced sales in October 2006. The cost of product sales includes the price paid to acquire the urokinase asset as well as labeling costs directly incurred in bringing the product to market.

Research and development expenses for the fourth quarter of 2007 decreased to $2.0 million from $2.6 million in the fourth quarter of 2006, primarily due to less outside contract work performed on grants and pre-clinical studies. Research and development expenses decreased to $7.4 million for the full year 2007 from $9.1 million for the full year 2006 as a result of staffing reductions, third party service costs and other expenses related to the Company's refined SonoLysis strategy. Full year 2006 results also included expenses related to recombinant thrombolytic drug assets relinquished to Abbott Laboratories in December 2006, which were partially offset by increased clinical trial expenses recorde
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SOURCE ImaRx Therapeutics, Inc.
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