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Maxygen Reports Third Quarter 2007 Financial Results
Date:11/1/2007

ygen at http://www.maxygen.com. Maxygen disclaims any obligation to update or revise any forward-looking statement contained in this release as a result of new information or future events or developments.

Selected Consolidated Financial Information

Condensed Consolidated Statements of Operations

(in thousands, except per share amounts)

Three Months Ended Nine Months Ended

September 30, September 30,

2007 2006 2007 2006

(unaudited) (unaudited)

Revenues:

Collaborative research and

development revenue $5 $3,201 $8,476 $15,218

Revenue from related party 34 -- 590 --

Grant revenue 964 1,040 3,110 3,293

Total revenues 1,003 4,241 12,176 18,511

Expenses:

Research and development 13,570 12,020 44,513 35,494

General and administrative 3,951 4,547 11,810 12,930

Total operating expenses 17,521 16,567 56,323 48,424

Loss from operations (16,518) (12,326) (44,147) (29,913)

Interest income and other

(expense), net 1,814 2,267 6,106 6,091

Equity in net losses of minority

investee -- (658) -- (1,000)

Net loss $(14,704) $(10,717) $(38,041) $(24,822)

Basic and diluted net loss per

share $(0.40) $(0.30) $(1.04) $(0.69)

Shares used in computing basic and

diluted net loss per share 36,872 36,078
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SOURCE Maxygen, Inc.
Copyright©2007 PR Newswire.
All rights reserved

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