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Micromet, Inc. To Regain Rights to Blinatumomab in North America; Reports Financial Results for the Fourth Quarter and Full Year ended December 31, 2008
Date:3/12/2009

hase 2 clinical trial in patients with non-Hodgkin's lymphoma with blinatumomab. In addition, by mid-2009, we expect to have completed enrollment in the ongoing phase 2 clinical trial in patients with acute lymphoblastic leukemia.
  • By mid 2009, we expect our partner Nycomed to initiate the first phase 1 clinical trial with MT203, a GM-CSF-neutralizing human monoclonal antibody, for the treatment of chronic inflammatory and autoimmune diseases.
  • Later in 2009, we expect our partner Morphotek, a wholly-owned subsidiary of Eisai, to initiate a first phase 1 clinical trial with MT228, a glycolipid-binding human antibody.
  • Also later in 2009, we expect our partner TRACON Pharmaceuticals, Inc. to complete the ongoing phase 1 clinical trial of MT293, a humanized monoclonal antibody targeting denatured collagen, that is being developed for the treatment of solid tumors.
  • Micromet intends to publish results from the research and development of its programs in peer-reviewed scientific and clinical journals throughout the year.
  • As previously stated, Micromet entered into an agreement with Bayer Schering in January 2009 under which Bayer Schering has obtained an exclusive option to develop and commercialize a BiTE antibody against a specified solid tumor target. We intend to enter into at least one additional corporate collaboration in 2009.
  • Financial Results:

    Quarter Ended December 31, 2008

    For the three months ended December 31, 2008, Micromet recognized total revenues of $5.9 million, compared to $7.0 million for the same period in 2007. Total operating expenses were $12.4 million for the three months ended December 31, 2008, compared to $13.1 million for the same period in 2007.

    Loss from operations for the three months ended December 31, 2008 was $6.5 million, compared to a loss from operations of
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    SOURCE Micromet, Inc.
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