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MiddleBrook Pharmaceuticals Reports Fourth Quarter and Full Year 2007 Results
Date:3/4/2008

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Depreciation and amortization 4,460,069 3,919,267

Warrant expense 2,100,000 -

Stock-based compensation 1,931,439 3,404,063

Deferred rent and credit on lease

concession (75,060) (15,957)

Amortization of premium on

marketable securities (39,687) 204,525

(Gain) or loss on disposal of fixed

assets - 23,185

Advance payment for sale of Keflex - (1,000,000)

Changes in:

Accounts receivable (384,273) 574,751

Inventories 1,389,457 (1,857,939)

Prepaid expenses and other current

assets 539,780 (885,432)

Deposits other than on property

and equipment 304,151 (30,096)

Accounts payable (625,984) 599,249

Accrued expenses and advances (2,260,048) 534,236

Deferred product and contract revenue (189,000) 189,000

Net cash used in operating

activities (35,260,711) (36,331,302)

Cash flows from investing activities:

Purchase of marketable securities (5,867,519) (13,764,736)

Sale and maturities of marketable

securities 6,430,000 24,355,000

Purchases of property and equipment (1,396,954) (300,929)

Deposits on property and equipment - (250,000)

Proceeds from sale of fixed assets - 25,000

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SOURCE MiddleBrook Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
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