MiddleBrook Pharmaceuticals Reports Fourth Quarter and Full Year 20...(es affiliated with Deerfield Manag...)

Deerfield Management pursuant to the Keflex transaction, resulting from

MiddleBrook's consolidation of the two affiliates under Financial

Accounting Standards Board Interpretation No. 46 (revised 2003)

"Consolidation of Variable Interest Entities."

-- Net loss per share applicable to common stockholders for the fourth

quarter of 2007 was ($0.19), compared to a loss per common share of

($0.22) in the prior quarter and ($0.44) in the fourth quarter of 2006.

For the fiscal year of 2007, net loss per share applicable to common

stockholders was ($0.96), down from ($1.38) for the fiscal year of

2006.

Per share figures were computed on the basis of an average of 46.7

million shares outstanding in the fourth quarter of 2007, 46.7 million

shares outstanding in the third quarter of 2007, 31.5 million shares

outstanding in the fourth quarter of 2006; and 43.8 million shares

outstanding for the full year of 2007 and 30.5 million shares

outstanding for the full year of 2006.

-- Cash and marketable securities decreased by $4.0 million during the

fourth quarter. Changes were composed of $6.9 million of operating

losses, $4.9 million in loan payments, and $2.3 million for working

capital changes and other items; offset by $7.0 million raised from the

Deerfield Management Keflex transaction and $3.1 million for non-cash

expenses.

-- The Balance Sheet at the end of 2007 reflected $2.0 million of

unrestricted cash, cash equivalents and marketable securities, compared

to $15.4 million as of year-end 2006. Following the fourth quarter of

2007, MiddleBrook completed a private placement of common stock and

warrants resulting in the addition of $19.9 million of net proceeds to

the Company.

FINANCIAL GUIDANCE

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