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Advanced Life Sciences Announces First Quarter 2009 Financial Results and Financial Outlook
Date:5/12/2009

property protection for our product candidates; the successful development of our sales and marketing capabilities; the success of competing drugs that become available; and the performance of third party collaborators and manufacturers. These and additional risks and uncertainties are detailed in the Company's filings with the Securities and Exchange Commission.

    ADVANCED LIFE SCIENCES HOLDINGS, INC. AND SUBSIDIARY
    (A Development Stage Company)
                                                   March 31,   December 31,
    CONSOLIDATED BALANCE SHEETS                      2009          2008
    (Unaudited)
    -----------
    ASSETS

    CURRENT ASSETS:
      Cash and cash equivalents                    $488,632    $1,527,108
      Grant receivable                              134,889        63,444
      Prepaid insurance                             150,148       227,313
      Other prepaid expenses and deposits           123,757       143,808
                                                    -------       -------

               Total current assets                 897,426     1,961,673
                                                    -------     ---------

    PROPERTY AND EQUIPMENT:
      Furniture and fixtures                        244,072       244,072
      Laboratory equipment                                -       159,186
      Computer software and equipment               258,786       258,786
      Leasehold improvements                        505,804       505,804
                                                    -------       -------

               Total property and
                equipment-at cost                 1,008,662     1,167,848
      Less accumulated depreciation                (645,980)     (760,329)
                                                   --------      --------

               Property and equipment-net           362,682       407,519
         
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SOURCE Advanced Life Sciences Holdings, Inc.
Copyright©2009 PR Newswire.
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