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

n Form 10-K filed with the SEC for the year ended December 31, 2007 and other periodic reports filed with the SEC. The Company expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.

IDM PHARMA, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)

Three months ended March 31,

2008 2007

Revenues:

Related party revenue $2,401,000 $2,803,000

Research grants and contract revenue - 25,000

License fees, milestones and other revenues 4,000 10,000

Total revenues 2,405,000 2,838,000

Costs and expenses:

Research and development 3,902,000 5,261,000

Selling and marketing 150,000 106,000

General and administrative 2,591,000 2,949,000

Restructuring expense 2,576,000 -

Total costs and expenses 9,219,000 8,316,000

Loss from operations (6,814,000) (5,478,000)

Interest income 238,000 113,000

Interest expense (4,728,000) (246,000)

Foreign exchange loss (852,000) (313,000)

Loss before income tax (12,156,000) (5,924,000)

Income tax benefit (expense) 20,000 (44,000)

Net loss $(12,136,000) $(5,968,000)

Weighted average number of shares

outstanding 25,162,411 15,420,788

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SOURCE IDM Pharma, Inc.
Copyright©2008 PR Newswire.
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