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

pects to report royalty revenue for 2008 in a range from $32 million to $35 million. The Company's royalty revenue is initially based on the annual end user guidance of approximately $157 million for 2008 provided by Eisai Co., Ltd. (which acquired MGI PHARMA in January 2008) in its quarterly conference call in early February 2008. The Company recognizes royalty revenue on a cash basis when it is received. The Company also expects to record additional milestones that relate to the prior sale of products to Mayne Pharma that are estimated to range from $1.6 million to $2.6 million. No other cash flows resulting from business development transactions are currently reflected in the 2008 financial guidance. Research and development expenses for 2008 are expected to total approximately $34 million to $36 million with the growth over 2007 influenced by increasing costs related to clinical trial programs such as MP470, ongoing product development efforts with the product pipeline and increasing investment in the discovery, pre- clinical, regulatory and clinical areas of the Company. The Company expects to record a non-cash charge during 2008 of approximately $5.2 million for acquired in-process research and development which relates to a milestone payment to the former Montigen stockholders for the filing of a second Investigational New Drug application with the Food and Drug Administration. Selling, general and administrative expenses for 2008 are expected to total approximately $14 million. Included in the 2008 total operating expenses are non-cash stock-based compensation expenses of approximately $4.3 million. Based on the elements of the 2008 financial guidance the Company is estimating a loss from operations in a range from $18 million to $20 million. The Company expects average shares outstanding for 2008 will be approximately 58 million common shares.

Corporate News

October 2007:

-- As part of a series of presentations at the 2007 AACR-NC
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