Emisphere Technologies, Inc. Announces 2008 First Quarter Financi...(ng Emisphere's drug delivery technology ...)

Date:5/7/2008

ng Emisphere's drug delivery technology, or Emisphere's ability to fund such efforts with or without partners. Emisphere undertakes no obligation to update any of these statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. Accordingly any forward-looking statements should be read in conjunction with the additional risks and uncertainties detailed in Emisphere's filings with the Securities and Exchange Commission, including those factors discussed under the caption "Risk Factors" in Emisphere's Quarterly Report on Form 10-Q for the quarter ended March 31, 2008, filed on May 7, 2008.

CONDENSED STATEMENTS OF OPERATIONS

For the three months ended March 31, 2008 and 2007

(in thousands, except share and per share data)

(unaudited)

For the three months ended

March 31,

2008 2007

Revenue $154 $2,809

Costs and expenses:

Research and development 3,832 5,451

General and administrative expenses 2,693 4,145

Gain on disposal of fixed assets (135) -

Depreciation and amortization 226 315

Total costs and expenses 6,616 9,911

Operating income (loss) (6,462) (7,102)

Other income (expense):

Other income 99 314

Sale of patents 1,500 -

Change in fair value of

derivative instruments
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SOURCE Emisphere Technologies, Inc. Copyright©2008 PR Newswire. All rights reserved

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