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Medarex Announces 2008 Third Quarter Financial Results
Date:10/30/2008

p>Contract and license revenues $6,264 $6,973 $20,139 $20,771

Reimbursement of development

costs 3,944 5,454 12,032 14,990

Total revenues 10,208 12,427 32,171 35,761

Costs and expenses:

Research and development 44,153 49,165 146,019 141,460

General and administrative 11,068 13,149 35,912 35,020

Acquisition of in-process

technology - 6,900 - 6,900

Operating loss (45,013) (56,787) (149,760) (147,619)

Equity in net loss of affiliate (2,813) - (8,144) -

Interest income, net 1,919 3,635 162,233 162,981

Impairment loss on investments

in partners - - - (2,141)

Minority interest - Celldex - 1,602 - 4,542

Income (loss) before

provision for income taxes (45,907) (51,550) 4,329 17,763

Provision (benefit) for income

taxes (222) 5 (199) 7

Net income (loss) $(45,685) $(51,555) $4,528 $17,756

Basic net income (loss) per

share $(0.36) $(0.41) $0.04 $0.14

Diluted net income (loss) per

share $(0.36) $(0.41) $0.04 $0.14

Weighted average number of

common shares outstanding during

the year - basic 128,335 127,125 128,064 126,200

- diluted 128,335 127,125 128,064 128,501

Condensed Consolidated Balance Sheets

(In thousands)

September 30, December 31,


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SOURCE Medarex, Inc.
Copyright©2008 PR Newswire.
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