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Maxygen Reports Fourth Quarter and Year End 2007 Financial Results
Date:2/12/2008

-- (1,000)

Gain on sale of equity investment -- 17,662 -- 17,662

Net income/(loss) $(11,274) $8,340 $(49,315) (16,482)

Basic and diluted net income/(loss)

per share $(0.31) $0.23 $(1.34) $(0.46)

Shares used in computing basic and

diluted net income/(loss) per

share 36,898 36,109 36,787 36,046

Condensed Consolidated Balance Sheets

(in thousands)

December 31, December 31,

2007 2006

(unaudited) (Note 1)

Cash, cash equivalents and marketable

securities $145,813 $182,876

Receivables, prepaid and other assets 11,644 7,317

Property and equipment, net 3,060 3,262

Goodwill and other intangibles, net 12,192 12,192

Total assets $172,709 $205,647

Other liabilities $14,802 $10,255

Total deferred revenue -- 5,593

Restructuring liabilities 4,413 --

Stockholders' equity 153,494 189,799

Total liabilities and stockholders' equity $172,709 $205,647

Footnotes

(A) Reconciliation of GAAP and non-GAAP net income/(loss) and net

income/(loss) per share (in thousands, except per share amounts)

Three Months Ended Twelve Months Ended

December 31, December 31,


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SOURCE Maxygen, Inc.
Copyright©2008 PR Newswire.
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