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Lorus Therapeutics Reports Fourth Quarter Results for Fiscal Year 2008
Date:7/21/2008

$10.2 million in operating activities in the year ended May 31, 2008 compared with $6.3 million during the year ended May 31, 2007 reflecting the increase in research and development activities during the year. At May 31, 2008, Lorus had cash and cash equivalents, short-term investments and marketable securities of $9.4 million compared to $12.2 million at May 31, 2007. Lorus believes that its current cash and cash equivalents, short-term investments and marketable securities and interest income will be sufficient to carry out the current research and development plans and operations through to the first quarter of fiscal 2010.

Lorus Therapeutics Inc.

Consolidated Statements of Loss

Years Ended May 31

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(Canadian dollars) 2008 2007 2006

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REVENUE $ 133 $ 107 $ 26

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EXPENSES

Cost of sales 2 16 3

Research and development 6,087 3,384 10,237

General and administrative 3,888 3,848 4,334

Stock-based compensation 719 503 1,205

Depreciation and amortization of

fixed assets 317 402 771

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Operating expenses 11,013 8,153 16,550

Interest expense on convertible

debentures 1,029 1,050 882

Accretion in carrying value of

convertible debentures 1,045
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SOURCE Lorus Therapeutics Inc.
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