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Monogram Announces 2008 Third Quarter Financial Results

ple $(4,930) $(3,080) $(12,175) $(18,510)

Adjustments for certain non-cash


Cumulative effect of change in

accounting principle - - - (2,242)

CVR valuation adjustment - (218) (72) (218)

Convertible debt valuation

adjustment (1,498) (4,244) (6,300) (4,652)

Non-GAAP Proforma net loss (6,428) (7,542) (18,547) (25,622)

Non-GAAP Proforma net loss per

common share, basic $(0.05) $(0.06) $(0.14) $(0.19)

Management believes that this non-GAAP proforma financial data supplements the Company's GAAP consolidated financial statements by providing investors with additional information which allows them to have a clearer picture of the Company's operations, financial performance and the comparability of the Company's operating results from period to period as they exclude the effects of revaluation of the Company's convertible debt that management believes are not indicative of the Company's ongoing operations. The presentation of this additional information is not meant to be considered in isolation or as a substitute for results prepared in accordance with GAAP. Above, management has provided a reconciliation of the non-GAAP proforma financial information with the comparable consolidated financial information reported in accordance with GAAP.



(In thousands)


September 30, December 31,

2008 2007(1)


Current assets:

Cash and cash equivalents $21,831 $18,762

Short-term investments

SOURCE Monogram Biosciences, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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