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PharmAthene Reports Third Quarter 2009 Financial and Operational Results
Date:11/12/2009

comprehensive income 879,759 386,351 Accumulated deficit (150,638,551) (123,817,664) ------------ ------------ Total stockholders' equity 6,486,588 18,963,439 --------- ---------- Total liabilities and stockholders' equity $41,969,842 $56,391,270 =========== ===========
                             PHARMATHENE, INC.
           UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

                            Three months ended            Nine months ended
                               September 30,                 September 30,
                           2009             2008         2009         2008
                           ----             ----         ----         ----

    Contract revenue     $6,830,399    $10,643,705   $20,423,513  $27,377,207
    Other revenue                 -         32,461             -       53,612
                                ---         ------           ---       ------
                          6,830,399     10,676,166    20,423,513   27,430,819
    Operating expenses:
     Research and
      development         7,609,794      9,414,093    22,769,749   26,475,436
     General and
      administrative      6,224,868      4,803,190    15,787,115   14,655,971
     Acquired in-process
      research and
      development                 -        225,000             -   16,131,002
     Depreciation and
      amortization          247,747        205,409       639,924      641,425
     Other expenses         274,005              -     1,158,566            -
                         ----------     ----------    ----------   ----------
     Total operating
      expenses           14,356,414     14,647,692    40,355,354   57,903,834
            
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SOURCE PharmAthene, Inc.
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