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IDM Pharma Reports Third Quarter 2007 Financial Results
Date:11/8/2007

recognized in earnings.

Net loss for the third quarter of 2007 was $3.8 million, compared to a net loss of $3.9 million in the corresponding period in 2006. Basic and diluted net loss per share was $0.15 in the three months ended September 30, 2007, on 25.1 million weighted average shares outstanding, compared to basic and diluted net loss per share of $0.29 in the three months ended September 30, 2006, on 13.4 million weighted average shares outstanding.

Nine Months Ended September 30, 2007

Total revenues were $9.1 million for the nine months ended September 30, 2007, compared to total revenues of $8.3 million for the nine months ended September 30, 2006. Substantially all of the revenues for both periods were derived from the Company's collaboration agreement with sanofi-aventis. The increase in revenues in the 2007 period was primarily due to an increase in development costs related to UVIDEM clinical trials, which are reimbursed by sanofi-aventis.

Research and development expenses were $17.0 million in each of the nine months ended June 30, 2007 and 2006. The spending related to clinical development of UVIDEM and clinical development, regulatory filings and manufacturing of L-MTP-PE increased $3.7 million in the 2007 period and was offset by a $2.5 million reduction in spending associated with development activities related to products currently on hold, as well as a $1.2 million reduction associated with lower headcount and termination of a lease agreement for certain of the Company's Paris facilities.

Selling, general and administrative expenses were $9.7 million and $7.2 million for the nine months ended September 30, 2007 and 2006, respectively. The higher expenses in 2007 include $0.5 million in fees paid to an investment advisor in connection with the private placement completed in February 2007, $1.1 million associated with accrued severance benefits and $0.5 million in bonus accruals.

Net Interest income was $3.6 milli
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SOURCE IDM Pharma, Inc.
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