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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 :

1. PharmAthene to Host First Quarter 2008 Conference Call and Webcast on Tuesday, May 13, 2008
2. PharmAthene Closes Acquisition of Avecia Biodefense Vaccines Business Unit
3. PharmAthene Reports Year-End 2007 Financial Results
4. Department of Defense Awards $5.8 Million Contract Modification Providing Additional Funding for PharmAthenes Protexia(R) Program
5. PharmAthene Year-End 2007 Earnings Conference Call and Webcast Scheduled for Monday, March 31, 2008
6. PharmAthene to Delay Release of Full Year 2007 Financial Results
7. PharmAthene Signs Definitive Agreement to Acquire Biodefense Vaccines Business From Avecia
8. PharmAthene to Present at the Cowen and Company 28th Annual Health Care Conference
9. PharmAthene Completes Pharmacokinetic Studies of Protexia(R); Program on Target for IND Filing in 2008
10. PharmAthene Enhances Executive Leadership Team and Appoints Joan Fusco, Ph.D. Senior Vice President of Operations
11. PharmAthene to Present at the BIO CEO & Investor Conference 2008
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