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

r 31, 2006 2,209 63

Additional paid-in capital 126,490,647 -

Accumulated other comprehensive income 1,481,779 63,954

Accumulated deficit (87,402,551) (69,851,819)

Total stockholders' equity (deficit) 40,572,084 (69,787,802)

Total liabilities, convertible redeemable

preferred stock, and stockholders'

equity (deficit) $66,611,132 $14,767,504

PHARMATHENE, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

Year ended December 31,

2007 2006

Contract and grant revenue $14,624,595 $1,641,822

Other revenue 19,020 21,484

14,643,615 1,663,306

Operating expenses:

Research and development 16,559,670 7,259,359

General and administrative 13,882,023 8,453,941

Depreciation and amortization 705,370 483,646

Total operating expenses 31,147,063 16,196,946

Loss from operations (16,503,448) (14,533,640)

Other income (expense):

Interest income 1,122,565 289,606

Gain on extinguishment of debt 886,963 -

Interest expense (2,122,624) (538,948)

Change in market value of derivative

instruments 3,029,241 (350,405)

Total other income (expense) 2,916,145 (599,747)

Net loss (13,587,303) (
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SOURCE PharmAthene, Inc.
Copyright©2008 PR Newswire.
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