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

March 31, December 31,

2008 2007

(unaudited)

Current assets:

Cash and cash equivalents $19,239,265 $40,582,643

Restricted cash 5,000,000 -

Short-term investments 6,415,735 12,153,945

Accounts receivable 6,562,753 5,245,763

Prepaid expenses 1,068,407 476,511

Other current assets 254,197 15,783

Total current assets 38,540,357 58,474,645

Long term restricted cash 15,000,000 -

Property and equipment, net 6,288,751 6,571,024

Patents, net 1,221,809 1,312,991

Other long term assets 183,588 183,588

Deferred costs 988,650 68,884

Total assets $62,223,155 $66,611,132

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities:

Accounts payable $1,434,184 $1,393,664

Accrued expenses and other liabilities 4,296,922 3,602,886

Current portion of long term debt 4,000,000 4,000,000

Total current liabilities 9,731,106 8,996,550

Other long term liabilities 376,501 374,040

Long term debt 15,994,706 16,668,458

Total liabilities 26,102,313 26,039,048

Stockholders' equity:

Common stock, $0.0001 par

value; 100,000,000 shares

authorized; 22,138,723 and

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

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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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