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SuperGen Reports 2008 Third Quarter Financial Results
Date:11/4/2008

Royalty Revenue Increases 67% from Same Prior Year Period

DUBLIN, Calif., Nov. 4 /PRNewswire-FirstCall/ -- SuperGen, Inc. (Nasdaq: SUPG), a pharmaceutical company dedicated to the discovery and development of novel cancer therapies, today announced financial results for the third quarter and nine months ended September 30, 2008.

Total revenues for the 2008 third quarter were $10.2 million compared with $6.1 million for the same prior year period. Total revenues for the 2008 third quarter and same prior year period consist entirely of royalty revenue. Royalty revenue is earned pursuant to the license agreement entered into with MGI PHARMA (acquired by Eisai Co., Ltd. in January 2008) during 2004, which granted the licensee exclusive rights to the development, manufacture, commercialization and distribution of Dacogen(R) (decitabine) for Injection. The Company recognizes royalty revenue on a cash basis when it is received.

Excluding gain on sale of products, total costs and operating expenses for the 2008 third quarter were $11.4 million, compared with $9.2 million for the same prior year period. The primary reason for the increase in total costs and operating expenses for the 2008 third quarter were higher research and development costs related to increased product development activities including ongoing clinical operations and the payment of additional severance costs in the amount of $98,000 related to the closure of our European operations offset in part by a reduction in general and administrative expenses related to the cessation of our European operations and lower stock-based compensation expense. The closure of the European operations was effective October 1, 2008 and is anticipated will reduce future ope
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SOURCE SuperGen, Inc.
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Related biology technology :

1. Dr. Audrey F. Jakubowski of SuperGen Retires as Chief Regulatory and Quality Officer
2. SuperGen to Present at Thomas Weisel Partners Healthcare Conference September 5th
3. SuperGen to Announce 2007 Fourth Quarter and Fiscal Year-End Financial Results March 3, 2008
4. SuperGen Reports 2007 Fourth Quarter and Annual Financial Results
5. SuperGen to Announce 2008 First Quarter Financial Results April 28, 2008
6. SuperGen to Webcast 3rd Annual Analyst Day on April 29, 2008
7. SuperGen Reports 2008 First Quarter Financial Results
8. SuperGen to Present at FBR Capital Markets 12th Annual Spring Investor Conference on May 29, 2008
9. SuperGen Reports 2008 Second Quarter Financial Results
10. SuperGen to Present at Merriman 5th Annual Investor Summit on September 15, 2008
11. SuperGen to Present Data at EORTC-NCI-AACR
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