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Immtech Reports Fiscal Year End 2008 Results
Date:6/18/2008

NEW YORK, June 18 /PRNewswire-FirstCall/ -- Immtech Pharmaceuticals, Inc. (Amex: IMM) today announced results for its fiscal year ended March 31, 2008.

For the fiscal year ended March 31, 2008, revenues increased to $9,717,000, as compared to $4,318,000 for the fiscal year ended March 31, 2007. The increase was primarily attributable to revenues from initial payments on license agreements recognized when the pafuramidine program was terminated. Loss from operations for the year ended March 31, 2008 was $10,952,000, as compared to a loss from operations of $11,662,000 for the year ended March 31, 2007. The loss was largely due to expenses related to the Phase III clinical trials during the year. Net loss attributable to common stockholders for the year ended March 31, 2008 was $11,042,000, or $0.71 per share, compared to a loss of $11,683,000, or $0.82 per share, in the previous year.

At March 31, 2008, unrestricted cash and cash equivalents were $5,996,000 as compared to $12,462,000 at March 31, 2007. For the same periods, restricted funds on deposit were $3,776,000 and $3,119,000, respectively.

The Company will hold a conference call on June 25th, 2008 at 2:00 P.M. (EDT) to present an update on Company progress and results for fiscal year end 2008. The User Access Code is # 52522128. Investors and interested parties in the U.S. are invited to join the call by dialing (888) 220-6305 and callers outside the U.S. should call (706) 902-3163. Please call no later than 10 minutes prior to the scheduled start of the call to register. Information to access a recording of the conference call will be available starting on June 26th from the Immtech Pharmaceuticals web site (h
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SOURCE Immtech Pharmaceuticals, Inc.
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