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IDM Pharma Reports 2007 Financial Results
Date:3/20/2008

IRVINE, Calif., March 20 /PRNewswire-FirstCall/ -- IDM Pharma, Inc. (Nasdaq: IDMI) today reported financial results for the fourth quarter and full year ended December 31, 2007. Financial information presented represents the consolidated results of IDM Pharma, Inc. and its subsidiary, IDM Pharma S.A.

Total revenues in the quarter ended December 31, 2007 were $5.6 million, and net loss was $2.7 million or $0.11 per share for the quarter. Total revenues for the year ended December 31, 2007 were $14.6 million, and net loss was $18.3 million or $0.87 per share for the year. Revenues in both the quarter and year ended December 31, 2007 included $2.4 million of deferred revenue recognized by the Company as a result of the decision by sanofi-aventis to terminate its participation in the UVIDEM development program in December 2007. Cash and cash equivalents was $28.4 million as of December 31, 2007 compared to $33.2 million on September 30, 2007 and $10.2 million on December 31, 2006. We believe that our existing cash resources are sufficient to meet our cash requirements, based on our current development and operating plan, into the first half of 2009.

Business Highlights

-- The European Committee for Medicinal Products for Human Use, or CHMP,

determined in a non-binding opinion in late January 2008 that

L-MTP-PE suggested a possible clinical benefit in terms of survival

and granted the Company a clock stop, or time extension.

-- The Company expects to receive a final opinion regarding L-MTP-PE from

the CHMP in the third quarter of 2008 and a final decision from the

European Commission in the fourth quarter of 2008.

-- The Company expects to file an amend
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SOURCE IDM Pharma, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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