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Nuvelo Reports First Quarter 2008 Financial Results and Updated Outlook for 2008
Date:5/8/2008

tive 4,009 5,366

Restructuring 2,470 -

Facility exit charge 1,472 -

Total operating expenses 19,469 18,091

Operating loss (19,406) (17,181)

Interest income, net 998 1,832

Net loss $(18,408) $(15,349)

Basic and diluted net loss per share $(0.34) $(0.29)

Weighted average shares used in computing

basic and diluted net loss per share 53,456 53,252

CONSOLIDATED BALANCE SHEET DATA

(in thousands)

(unaudited)

March 31, 2008 December 31, 2007*

Cash and cash equivalents,

marketable securities and

restricted cash $87,168 $103,567

Working capital 51,271 81,799

Total assets 103,686 120,683

Non-current liabilities 19,874 34,837

Accumulated deficit (488,921) (470,513)

Total stockholders' equity 51,623 67,659

* The consolidated balance sheet data as of December 31, 2007 have been

derived from the audited financial statements.


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SOURCE Nuvelo, Inc.
Copyright©2008 PR Newswire.
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