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PharmAthene Reports First Quarter 2008 Financial Results
Date:5/13/2008

ANNAPOLIS, Md., May 13 /PRNewswire-FirstCall/ -- PharmAthene, Inc. (Amex: PIP) a biodefense company developing medical countermeasures against biological and chemical threats, today reported financial results for the first quarter ended March 31, 2008.

"The first quarter was a particularly productive and exciting time for our Company. With the acquisition of Avecia's biodefense vaccines portfolio, completed on April 2, 2008, PharmAthene made substantial progress advancing our mission of becoming a premier biodefense company with industry-leading capabilities and a diversified portfolio of best-in-class, next generation products," commented David P. Wright, President and Chief Executive Officer.

"We have sought first to understand the needs of our customer -- the government, and then identify and acquire the very best products to meet those requirements. By adhering to this strategy we have built a diversified biodefense portfolio that includes novel, next generation rPA anthrax vaccines, an anthrax anti-toxin, Valortim(TM), a chemical nerve agent bioscavenger, Protexia(R), and a novel dual antigen plague vaccine. Many of these programs are poised to achieve important milestones this year, which have the potential to create significant value for our stockholders," said Mr. Wright.

In 2008, PharmAthene expects to:

-- Submit a response to a Request for Proposals (RFP) issued by the

Department of Health and Human Services (DHHS) for procurement

consideration of PharmAthene's second generation rPA anthrax vaccine.

The RFP has a requirement to procure 25 million doses of rPA anthrax

vaccine.

-- File an Investigational New Drug Application for Protexia(R), and

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SOURCE PharmAthene, Inc.
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Related biology technology :

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5. PharmAthene Year-End 2007 Earnings Conference Call and Webcast Scheduled for Monday, March 31, 2008
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