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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

oney">$32.3 million, or $1.17 per share, compared to $36.4 million, or $1.59 per share, in the same period of 2008.

As of December 31, 2009, the Company had cash and cash equivalents, short-term investments, and US government account receivables and unbilled receivables totaling approximately $22.8 million.  We expect that these liquid assets are adequate to fund the Company's current operations through the end of 2010.

In February 2010, the Company and the Department of Health and Human Services (HHS), through the Biomedical Advanced Research and Development Authority (BARDA) entered into a modification of the parties' existing research and development contract providing for up to a total of $78.4 million in additional funding, provided that certain milestones are achieved and that all contract options and extensions are exercised by the government, to support the continued advanced development of SparVax.  A competitor of the Company filed a protest claiming that the modification should have been subject to competitive bidding.  In response, on March 19, 2010 HHS suspended performance under the contract modification, pending a ruling on the protest, which is expected by June 11, 2010.


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1. PharmAthene to Provide Update on SparVax(TM) Contract Modification Suspension During Year-End 2009 Financial and Operational Results Conference Call on Tuesday March 23, 2010
2. PharmAthene to Host Year-End 2009 Earnings Conference Call and Webcast on Tuesday, March 23, 2010
3. PharmAthene to Present at the 2010 Roth Capital Markets Growth Stock Conference on Monday, March 15, 2010
4. PharmAthene Submits White Paper to BARDA for Advanced Development Funding for SparVax(TM) - Novel Recombinant Protective Antigen Anthrax Vaccine
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