MIGENIX Reports Second Quarter Fiscal Year 2008 Financi...(------------------- Cash used in oper...)

Cash used in operating

activities $(2,129) $(2,257) $(4,551) $(5,365)

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Issuance of convertible

royalty participation units - (5) - 7,732

Proceeds on exercise of

stock options - 9 - 10

Proceeds on exercise of

warrants - 138 36 155

Repayment of capital lease

obligation - - - (5)

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Cash provided by financing

activities - $142 $36 $7,892

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Funds from (purchases of)

short-term investments 748 (1,447) 7,628 (2,811)

Proceeds on disposal of

equipment - - 12 -

Purchases of equipment (109) (99) (184) (171)

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Cash provided by (used in)

investing activities $639 $(1,546) $7,456 $(2,982)

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(Decrease) increase in

cash and cash equivalents $(1,490) $(3,661) $2,941 $(455)

Cash and cash equivalents,

beginning of period 7,376 8,949 2,945 5,743

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Cash and cash equivalents,

end of period $5,886 $5,288 $5,886 $5,288

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