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PharmAthene Reports Year-End 2009 Financial and Operational Results and Provides Update On Ongoing Litigation With SIGA Technologies
Date:3/23/2010

Accumulated other comprehensive income 1,188,156 386,351 Accumulated deficit (156,310,642) (123,817,664) ----------- ----------- Total stockholders' equity 1,884,364 18,963,439 ----------- ----------- Total liabilities and stockholders' equity $34,065,014 $56,391,270 =========== ===========
    
    
                               PHARMATHENE, INC.
                     CONSOLIDATED STATEMENTS OF OPERATIONS
    
                                              Year ended December 31,
                                              -----------------------
                                               2009           2008
                                               ----           ----
    
    Contract revenue                       $27,549,978     $32,821,526
    Other revenue                                    -          89,802
                                            ----------      ----------
                                            27,549,978      32,911,328
     Operating expenses:
       Research and development             30,219,758      31,812,431
       General and administrative           22,432,585      19,397,532
       Acquired in-process research
        and development                              -      16,131,002
       Depreciation and amortization           872,304         813,891
                                            ----------      ----------
    
    Total operating expenses                53,524,647      68,154,856
                                            ----------      ----------
    
    Loss from operations                   (25,974,669)    (35,243,528)
    Other income (expenses):
       Interest income
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SOURCE PharmAthene, Inc.
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