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Vasogen Announces First Quarter 2008 Results

ertible notes payable - (5) (1,279)

Accretion in carrying value of

senior convertible notes payable - (692) (10,294)

Amortization of deferred financing

costs - (145) (3,057)

Loss on extinguishment of senior

convertible notes payable - (1,284) (6,749)

Investment income 342 352 13,667

Change in fair value of embedded

derivatives - 573 829


Loss and comprehensive loss for

the period (5,320) (7,678) (379,660)

Deficit, beginning of period:

As originally reported (381,783) (351,374) (1,510)

Impact of change in accounting

for stock-based compensation - - (4,006)

Impact of change in accounting

for financial instruments on

December 1, 2006 - (1,632) (1,632)


As revised (381,783) (353,006)

Charge for acceleration payments

on equity component of senior

convertible notes payable - - (295)


Deficit, end of period $ (387,103) $ (360,684) $ (387,103)



Basic and diluted loss per common

share $ (0.24) $ (0.47) $ -


SOURCE Vasogen Inc.
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