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PharmAthene Reports Year-End 2007 Financial Results
Date:3/31/2008

ssociated with obtaining regulatory approvals, unforeseen technical difficulties, dependencies on certain customers or products, market acceptance and competition, ability to receive grant and contract revenue and procurement funding, ability to identify any additional strategic acquisitions or other opportunities to accelerate growth, cash at the end of the year, as well as other risks described in the Company's filings with the Securities and Exchange Commission, in conference calls and in other communications.

PHARMATHENE, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

December 31,

2007 2006

Current assets:

Cash and cash equivalents $40,582,643 $5,112,212

Short-term investments 12,153,945 -

Accounts receivable 5,245,763 1,455,538

Prepaid expenses 476,511 877,621

Other current assets 15,783 104,772

Total current assets 58,474,645 7,550,143

Property and equipment, net 6,571,024 5,230,212

Patents, net 1,312,991 1,246,236

Other long term assets 183,588 153,336

Deferred costs 68,884 587,577

Total assets $66,611,132 $14,767,504

LIABILITIES, CONVERTIBLE REDEEMABLE

PREFERRED STOCK, AND STOCKHOLDERS' DEFICIT

Current Liabilities:

Accounts payable $1,393,664 $839,120

Accrued expenses and other liabilities 3,602,886 1,587,017

Notes pay
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SOURCE PharmAthene, Inc.
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