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Repligen Reports Fourth Quarter and Fiscal Year 2008 Financial Results
Date:6/12/2008

inancial resources will allow us to continue to execute on our strategy to acquire rights to patented, development stage drug candidates, advance the candidates through proof-of-principle clinical trials and generate value through partnering or our own commercial efforts."

Total revenue for the fourth quarter of fiscal year 2008 was $3,301,000 compared to $3,699,000 for the same period in fiscal year 2007, a decrease of 11%. Operating expenses for the fourth quarter of fiscal year 2008 were $7,165,000 compared to $4,050,000. Net loss for the fourth quarter of fiscal year 2008 was $3,198,000 or $0.10 per diluted share, compared to a net loss for the fourth quarter of fiscal year 2007 of $107,000 or $0.00 per diluted share.

Corporate Update

Secretin (RG1068) for Imaging of the Pancreas

In March, we initiated a Phase 3 clinical trial to evaluate the use of RG1068, synthetic human secretin, to improve the assessment of pancreatic duct structures by magnetic resonance imaging (MRI). The Phase 3 study is a multi-center, baseline-controlled, single dose study in which approximately 250 patients will receive an unenhanced MRI followed by a secretin-enhanced MRI of the pancreas. The study is designed to assess the sensitivity and specificity of secretin-enhanced MRI to improve the ability to detect pancreatic duct abnormalities relative to MRI alone. Detailed visual assessment of the pancreatic ducts is important in the assessment, diagnosis and treatment of diseases such as acute and chronic pancreatitis. The study is being conducted at approximately 30 clinical sites within the United States and Canada. In April, the U.S. Food and Drug Administration granted Fast Track Designation to our development program. Fast Track is a process designed to facilitate the development and expedite the review of drugs that treat serious diseases and fill an unmet medical need.

Uridine (RG2417) for Bipolar Disorder

Today, we announced that based on
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