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SuperGen Reports 2008 First Quarter Financial Results
Date:4/28/2008

ompany recognizes royalty revenue on a cash basis when it is received. The Company also expects to record additional milestones that relate to the sale of products to Mayne Pharma that are estimated in a 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 MP-470, ongoing pre-clinical product development efforts and increasing investment in the discovery, pre-clinical, manufacturing, regulatory and clinical development operations of the Company. The Company expects to record a non-cash charge during 2008 of approximately $5.2 million for acquired in-process research & development resulting from a milestone payment to the former Montigen stockholders. This payment is contingent on the filing of an Investigational New Drug (IND) application with the Food and Drug Administration (FDA) of a second drug emanating from the acquired technology. Selling, general and administrative expenses for 2008 are expected to total approximately $13.5 million. Included in the 2008 total operating expenses are non-cash stock-based compensation expenses of approximately $4 million. Based on the revised 2008 financial guidance the Company is estimating a loss from operations in a range of between $17 million to $19 million. The Company expects average shares outstanding for 2008 to be approximately 58 million common shares.

Recent Corporate Events:

-- April 2008: The Company had multiple abstracts accepted for oral and

poster presentation at the American Association of Cancer Research

(AACR) Annual Meeting, which took place April 12-16 in San Diego,

California. Highlights of the presentations are included below:

-- SG
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SOURCE SuperGen Inc.
Copyright©2008 PR Newswire.
All rights reserved

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