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MAP Pharmaceuticals Reports 2010 Fourth Quarter and Year End Financial Results
Date:3/1/2011

.sec.gov/">http://edgar.sec.gov.

CONTACT: Christopher Y. Chai, Sr. Vice President and Chief Financial Officer of MAP Pharmaceuticals, Inc., (650) 386-3107; or media, Nicole Foderaro of WCG, (415) 946-1058, nfoderaro@wcgworld.com.MAP PHARMACEUTICALS, INC.(a development stage enterprise)CONDENSED CONSOLIDATED BALANCE SHEETS(In thousands)(Unaudited)December 31,December 31,20102009ASSETSCurrent assets:Cash and cash equivalents$

76,007$

65,776Other current assets644620Total current assets76,65166,396Property and equipment, net5,8034,164Other assets30126Restricted investment310310Total assets$

82,794$

70,996LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Accounts payable and accrued expenses$

12,440$

14,484Current portion of debt7,5817,283Total current liabilities20,02121,767Debt, less current portion-7,337Other liabilities11790Total liabilities20,13829,194Total stockholders’ equity 62,65641,802Total liabilities and stockholders’ equity $

82,794$

70,996MAP PHARMACEUTICALS, INC.(a development stage enterprise)CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except share and per share amounts)(Unaudited)Three Months Ended December 31,Twelve Months Ended December 31,2010200920102009Collaboration revenue

$

-$

2,764$

-$

54,166Operating expenses:Research and development 9,73812,38137,77547,996Sales, general and administrative4,0013,29715,71313,139Total operating expenses13,73915,67853,48861,135Loss from operations (13,739)(12,914)(53,488)(6,969)Other expense, net (209)(453)(1,185)(2,028)Net loss$

(13,948)$

(13,367)$

(54,673)$

(8,997)Net loss per share attributed to common stockholdersBasic$

(0.46)$

(0.54)$

(2.01)$

(0.41)Diluted$

(0.46)$

(0.54)$

(2.01)$

(0.41)Weight
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SOURCE MAP Pharmaceuticals, Inc.
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