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AutoImmune Inc. Reports 2008 First Quarter Financial Results

ements because they involve our expectations, beliefs, projections, anticipations or other characterizations of future events or circumstances. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that may cause actual results to differ materially from those in the forward-looking statements as a result of any number of factors. These factors include, but are not limited to the uncertainties of clinical trial results, the Company's dependence on third parties for licensing revenue, and the risks of technological change and competition. These factors are more fully discussed, as are other factors, in the Company's most recent Annual Report on Form 10-KSB filed with the Securities and Exchange Commission in the section entitled "Risk Factors."




Three months ended March 31,

2007 2008

Revenue $97,000 $67,000

Costs and expenses:

Cost of goods sold 9,000 12,000

Research and development 30,000 42,000

General and administrative 185,000 205,000

Total costs and expenses 224,000 259,000

Interest income 110,000 84,000

Minority interest in joint venture - 1,000

Other income 25,000 -

135,000 85,000

Net income (loss) $8,000 ($107,000)

Net income (loss) per share - basic $0.

SOURCE AutoImmune Inc.
Copyright©2008 PR Newswire.
All rights reserved

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