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IDM Pharma Reports First Quarter Financial Results
Date:5/8/2008

IRVINE, Calif., May 8 /PRNewswire-FirstCall/ -- IDM Pharma, Inc. (Nasdaq: IDMI) today reported financial results for the quarter ended March 31, 2008. Financial information presented represents the consolidated results of IDM Pharma, Inc. and its subsidiary, IDM Pharma S.A.

Total revenues for the quarter were $2.4 million, and net loss was $12.1 million or $0.48 per share for the quarter. Expenses for the quarter included non-cash charges of $4.7 million related to the increase in fair value of the warrants issued in the Company's February and June 2007 financings, primarily as a result of the increase in the Company's' stock price during the quarter, and $0.9 million related to a foreign exchange loss, which resulted from changes in the value of the dollar versus the euro on the dollar denominated inter-company loan between the Company's subsidiaries. Cash and cash equivalents was $22.4 million as of March 31, 2008 compared to $28.4 million on December 31, 2007. The cash and cash equivalents amount at March 31, 2008 does not include $7.8 million (or 5.2 million euros) the Company received in April under a settlement agreement in connection with the termination of sanofi-aventis' participation in the UVIDEM development program. The Company believes it has adequate cash resources to support its operations into the first half of 2009, based on its current development and operating plans. As previously announced, the Company is evaluating its research and development programs, including related assets and costs, and strategic alternatives available to the Company.

"We continue to make progress in our efforts to bring our lead product candidate, L-MTP-PE, to market," said Timothy P. Walbert, president and chief executive officer
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SOURCE IDM Pharma, Inc.
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