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deCODE genetics Announces Third Quarter 2008 Financial Results
Date:11/6/2008

ollar value of our krona-denominated costs. deCODE's most significant operating expenses denominated in krona include salaries and rental payments on our leased facilities and capital equipment. In as far as the krona decreases in value versus the U.S. dollar that portion of our overall operating expenses that are payable in krona will decrease.

"Over the past few months we have continued to bring forward new products for treating and preventing common diseases. Utilizing the expertise of our protein crystallography and medicinal chemistry units we have filed an IND on an exciting new PDE4 modulator for Alzheimer's disease that has the potential to avoid some of the side effects of earlier compounds. We have also just launched the first DNA-based test for risk of the common forms of breast cancer, a test which promises to improve the way in which we target intensive screening and thus to catch more cancers earlier. At the same, in a global economic climate in which there is limited access to capital for companies of our size, we believe that the best way to develop and capture the value of our capabilities and product portfolio is to sharpen the focus of our business. We are therefore in the process of reviewing our long-term strategy and will be sharing with you the results of this process in the weeks ahead," said Kari Stefansson, CEO of deCODE.

Recent highlights include:

Product Development

- DG071 for Alzheimer's and cognition deficits. In October 2008 we filed

an investigational new drug (IND) application for DG071, a novel small-

molecule modulator of phosphodiesterase 4 (PDE4), being developed for

Alzheimer's and other cognitive disorders. The compound is being

developed as a new and potentially safer means of targeting PDE4 to

combat memory loss and cognitive deficits associated with Alzheimer's

disease and other disorders in which neural signaling is reduced or

impair
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SOURCE deCODE genetics Inc
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