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Immtech Reports Fiscal Second Quarter 2009 Results
Date:11/10/2008

NEW YORK, Nov. 10 /PRNewswire-FirstCall/ -- Immtech Pharmaceuticals, Inc. (Amex: IMM) today announced results for its fiscal second quarter ended September 30, 2008.

For the three months ended September 30, 2008, revenues were $506,000, as compared to $1,030,000 for the three months ended September 30, 2007. The decrease was primarily attributable to revenues from a research and testing agreement. Loss from operations for the three months ended September 30, 2008 was $2,446,000, as compared to a loss from operations of $3,466,000 for the three months ended September 30, 2007. During the three months ended September 30, 2008 there was a non-cash asset impairment charge of $693,000. Net loss attributable to common stockholders for the three months ended September 30, 2008 was $2,557,000, or $0.16 per share, compared to a loss of $3,469,000, or $0.23 per share, in the previous year.

At September 30, 2008, unrestricted cash and cash equivalents were $2,077,000 as compared to $5,996,000 at March 31, 2008. For the same periods, restricted funds on deposit were $953,000 and $3,776,000, respectively.

The Company will announce in the near future the time for an investors' conference call.

About Immtech Pharmaceuticals, Inc.

Immtech Pharmaceuticals, Inc. and subsidiaries (a development stage enterprise) is focused on global opportunities in the healthcare sector and opportunities in China. Immtech aims to leverage its established expertise and other assets in both new drug sales and enhanced healthcare-related services, including research and information-providing services, for developed and developing countries. For additional information, please visit the Company's website at

SOURCE Immtech Pharmaceuticals, Inc.
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