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MAP Pharmaceuticals Reports First Quarter of 2011 Financial Results
Date:5/3/2011

ities81117Total liabilities38,90220,138Total stockholders’ equity 82,84062,656Total liabilities and stockholders’ equity $

121,742$

82,794MAP PHARMACEUTICALS, INC.(a development stage enterprise)CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except per share amounts)(Unaudited)Three Months Ended March 31,20112010Collaboration revenue$

34,162$

-Operating expenses:Research and development 11,5689,786Sales, general and administrative4,8433,881Total operating expenses16,41113,667Income (loss) from operations 17,751(13,667)Other expense, net (147)(391)Net income (loss)$

17,604$

(14,058)Net income (loss) per shareBasic$

0.58$

(0.54)Diluted$

0.56$

(0.54)Weighted average shares outstanding used in calculating net income (loss) per share Basic30,21125,852Diluted31,56025,852
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SOURCE MAP Pharmaceuticals, Inc.
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