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MIGENIX Reports Third Quarter Fiscal Year 2008 Financial Results
Date:3/13/2008

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Unattributed Expenses

Personnel $0.7 $0.7 $2.2 $2.0

Patent costs 0.1 0.2 0.7 0.6

Other 0.2 0.2 0.8 0.8

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Total Unattributed Expenses $1.0 $1.1 $3.7 $3.4

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Total Research & Development

Expenses $1.5 $2.1 $5.0 $5.6

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(1) Before amortization expense, technology and license acquisition

costs, and write-downs of intangibles assets.

(2) Value of $0.0 million represents $nil to ~$50,000 in expenses during

the period.

Our Omiganan programs are being advanced by development and commercialization partners (Cadence Pharmaceuticals and Cutanea Life Sciences).

Celgosivir program costs were $0.3 million in Q3/08 (Q3/07: $0.4 million) and were $1.0 million for YTD Fiscal 2008 (YTD Fiscal 2007: $1.1 million).

Costs in the MX-2401 program in Q3/08 were $0.1 million (Q3/07: $0.4 million) and were $0.2 million for YTD Fiscal 2008 (YTD Fiscal 2007: $1.0 million). The decrease in Q3/08 and YTD Fiscal 2008 MX-2401 costs is principally due to higher cost manufacturing activity in Q3/07 and YTD Fiscal 2007 in preparation for the GLP studies started in April 2007.

Research and development costs not allocated to programs were $1.0 million in Q3/08 (Q3/07: $1.1 million) and were $3.7 million for YTD Fiscal 2008 (YTD Fiscal 2007: $3.4 million). The approximate $0.3 million increase in these unallocated research and development
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SOURCE MIGENIX Inc.
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