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SGX Pharmaceuticals Announces First Quarter Financial Results and Gives Pipeline Update
Date:5/13/2008

e hereof.

SGX PHARMACEUTICALS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

(unaudited)

Three Months Ended

March 31,

2008 2007

Revenue:

Collaborations and

commercial agreements $15,001 $5,647

Grants 1,971 5,321

Total revenue 16,972 10,968

Operating expenses:

Research and development 11,349 10,018

General and administrative 2,121 2,233

Total operating expenses 13,470 12,251

Income (loss) from operations 3,502 (1,283)

Interest income and expense, net 219 185

Net income (loss) $3,721 $(1,098)

Net income (loss) per common share:

Basic $0.18 $(0.07)

Diluted $0.18 $(0.07)

Shares used to compute

basic and diluted net

income (loss) per common share:

Basic 20,530 15,228

Diluted 21,089 15,228

Three Months Ended Three Months Ended

March 31, 2008 (1) March 31, 2007 (1)

Stock- Stock-

based Reported based Reported

compensation GAAP compensation GAAP

non-GAAP expense results non-GAAP expense results

Net income (loss) $4,347 $(626) $3,721 $(109) $(989) $(1,098)

Basic net income

(loss) per common

share:
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SOURCE SGX Pharmaceuticals, Inc.
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