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Nuvelo Reports Second Quarter 2008 Financial Results
Date:7/23/2008

- 4,671 -

Total operating expenses 15,954 18,506 35,423 36,597

Operating income (loss) (892) 27,319 (20,298) 10,138

Interest income, net 661 1,723 1,659 3,555

Net income (loss) $(231) $29,042 $(18,639) $13,693

Net income (loss) per share:

Basic $(0.00) $0.54 $(0.35) $0.26

Diluted $(0.00) $0.54 $(0.35) $0.26

Shares used in computing net income

(loss) per share:

Basic 53,535 53,317 53,496 53,285

Diluted 53,535 53,349 53,496 53,300

CONSOLIDATED BALANCE SHEET DATA

(in thousands)

(unaudited)

June 30, 2008 December 31, 2007*

Cash and cash equivalents,

marketable securities

and restricted cash $76,047 $103,567

Working capital 55,446 81,799

Total assets 87,018 120,683

Non-current liabilities 18,142 34,837

Accumulated deficit (489,152) (470,513)

Total stockholders' equity 52,346 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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