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CuraGen Reports Third Quarter 2007 Financial Results
Date:10/25/2007

, future events or otherwise.

CRGN-F

CuraGen Contact:

Glenn Schulman, Pharm.D.

Director of Investor Relations

gschulman@curagen.com

(888) 436-6642

CURAGEN CORPORATION AND SUBSIDIARY

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

Three Months Ended Nine Months Ended

September 30, September 30,

2007 2006 2007 2006

(unaudited) (unaudited)

Collaboration revenue $22 - $66 $2,284

Operating expenses:

Research and development 8,074 10,692 30,480 33,139

General and administrative 2,568 3,556 9,631 10,287

Restructuring and other charges 1,058 - 8,537 -

Total operating expenses 11,700 14,248 48,648 43,426

Loss from operations (11,678) (14,248) (48,582) (41,142)

Interest income 1,861 1,742 4,060 5,452

Interest expense (1,273) (2,334) (4,172) (7,019)

Gain on extinguishment of debt 169 - 169 -

Gain on sale of long-term

marketable securities 973 - 973 -

Loss from continuing operations

before income tax benefit (9,948) (14,840) (47,552) (42,709)

Income tax benefit 50 52 160 161

Loss from continuing operations (9,898) (14,788) (47,392) (42,548)

Discontinued operations:

Loss from discontinued

operations - (1,
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SOURCE CuraGen Corporation
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