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Memory Pharmaceuticals Reports First Quarter 2008 Financial Results
Date:5/14/2008

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Net loss $(13,445) $(8,863)

Basic and diluted net loss

per share of common stock $(0.18) $(0.13)

Basic and diluted weighted average number

of shares of common stock outstanding 72,726 70,146

MEMORY PHARMACEUTICALS CORP.

CONDENSED BALANCE SHEETS

(in thousands)

(unaudited)

March 31, December 31,

2008 2007

ASSETS

Cash, cash equivalents and marketable securities $27,493 $38,201

Other current assets 1,359 1,417

Restricted cash 505 505

Deferred financing costs, net 444 519

Property and equipment, net 5,525 5,868

Total assets $35,326 $46,510

LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY

Current liabilities (excluding deferred revenue) $11,674 $8,789

Equipment notes payable, less current portion 31 66

Loan payable, less current portion 9,669 10,831

Deferred revenue 17,715 18,051

Other non-current liabilities 495 506

Total liabilities 39,584 38,243

Stockholders' (deficit) equity (4,258) 8,267

Total liabilities and

stockholders' (deficit) equity $35,326 $46,510


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SOURCE Memory Pharmaceuticals Corp.
Copyright©2008 PR Newswire.
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