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PharmAthene Reports First Quarter 2008 Financial Results

87,121 shares issued and

outstanding; respectively, at

March 31, 2008 and December 31, 2007 2,209 2,209

Additional paid-in capital 127,278,108 126,490,647

Accumulated other comprehensive income 1,260,704 1,481,779

Accumulated deficit (92,420,179) (87,402,551)

Total stockholders' equity 36,120,842 40,572,084

Total liabilities and stockholders'

equity $62,223,155 $66,611,132

PharmAthene, Inc.

Consolidated Statements of Operations


Three months ended March 31,

2008 2007


Contract and grant revenue $5,819,054 $2,961,759

Other revenue 21,151 7,000

5,840,205 2,968,759

Operating expenses:

Research and development 5,877,055 3,091,604

General and administrative 4,678,723 2,479,825

Depreciation and amortization 196,103 147,133

Total operating expenses 10,751,881 5,718,562

Loss from operations (4,911,676) (2,749,803)

Other income (expense):

Interest income 471,765 55,616

Interest expense (666,997) (241,781)

Change in market value of derivative

instruments 89,280 7,626

Total other expense (105,952)

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
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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
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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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