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PharmAthene Reports Year-End 2007 Financial Results


in the FY 2007 and 2008 U.S. Congressional Appropriations budgets for

the Department of Defense.

-- Presenting new mechanistic data for Valortim(TM) showing that

Valortim(TM) may possess the ability to enhance macrophage killing of

Bacillus anthracis (anthrax) spores within macrophages, potentially

blocking the ability of the spores to develop into bacteria and

preventing toxin production and propagation of the infection.

-- Demonstrating new research showing that recombinant

butyrylcholinesterase (rBChE) may effectively block the formation of

amyloid fibrils, which are believed to be important precursors to

Alzheimer's disease.

-- Showing a therapeutic effect for Valortim(TM) in a new primate model of

established inhalation anthrax infection -- the African Green Monkey

model, which is believed to follow a similar disease course as would be

expected in humans exposed to aerosolized Bacillus anthracis (anthrax)

spores. The pilot study demonstrated 50% survival in Valortim(TM)-

treated animals compared to no animals in the control group; this was

perceived to be an encouraging survival result since the study animals

had bacteria multiplying in their blood and were poised to manifest

severe symptoms and death at the time they received treatment.

Financial Highlights

For the year ended December 31, 2007, PharmAthene recognized revenues of $14.6 million compared to $1.7 million for the period ended December 31, 2006. The Company's revenues consist primarily of contract and grant funding from the U.S. government. The increase in revenue in 2007 is primarily attributable to revenues of $14.6 million provided under the Department of Defense advanced development and procurement contract for Protexia(R), which was executed in September 2006.

PharmAthene's research and developmen

SOURCE PharmAthene, Inc.
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