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SuperGen Reports 2007 Fourth Quarter and Annual Financial Results
Date:3/3/2008

compared with $59.6 million for the same prior year period. The primary reasons for the decrease in total costs and operating expenses for 2007 were a lower net non-cash operating charge relating to acquired in-process research and development associated with the acquisition of Montigen Pharmaceuticals and reductions in the cost of product revenue and sales and marketing expenses resulting primarily from the sale of the Company's worldwide rights for Nipent and Surface Safe offset in part by higher research and development costs related to increased product development activities and an increase in the non-cash charge for stock-based compensation expense. Included in the gain on sale of products for 2007 was the recognition of the deferred gain and additional gains recognized on the sale of products to Mayne Pharma as well as the recognition of gains on the sale of other products to Intas Pharmaceuticals.

The Company reported net income for 2007 of $13.1 million, or $0.23 per fully diluted share, compared with a net loss of $16.5 million, or $0.31 per fully diluted share, for the same prior year period. Included in net income for 2007 is a gain on sale of products of $33.7 million offset in part by a non-cash operating charge relating to acquired in-process research and development of approximately $10.0 million, a non-cash charge of $4.3 million for stock-based compensation expense and an income tax provision of $411,000 resulting primarily from the tax impact of recognizing various milestone payments received from the sale of products to third parties. Included in the net loss for 2006 was a non-cash gain for a change in valuation of derivatives of $1.8 million. There was no similar non-cash gain during 2007 because the related derivatives expired at the end of 2006.

As of December 31, 2007, the Company had approximately $91 million in unrestricted cash, cash equivalents and marketable securities.

2008 Financial Guidance

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