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MAP Pharmaceuticals Reports 2007 Fourth Quarter and Year End Financial Results

MOUNTAIN VIEW, Calif., Feb. 28 /PRNewswire-FirstCall/ -- MAP Pharmaceuticals, Inc. (Nasdaq: MAPP) today announced financial results for the fourth quarter and year ended December 31, 2007.

The net loss for the fourth quarter and year ended December 31, 2007 was $14.9 million and $40.1 million, respectively, compared with $8.5 million and $25.8 million during the same periods in 2006. MAP Pharmaceuticals had cash, cash equivalents and short-term investments as of December 31, 2007 of $95.0 million.

2007 Accomplishments

During 2007, MAP Pharmaceuticals' accomplishments included the following:

-- Successfully completed Phase 2 trial and presented positive results

for Unit Dose Budesonide (UDB), for the potential treatment of

pediatric asthma, at the World Asthma Meeting. In this randomized,

double-blind, placebo-controlled trial, UDB produced a statistically

significant reduction in nighttime and daytime composite symptom

scores vs. placebo for the low dose tested. Positive trends in Forced

Expiratory Volume in one second were seen in those patients old enough

to take the test. UDB was shown in the trial to be well tolerated and

there were no serious adverse events reported. In this trial,

complete nebulization of UDB using a standard nebulizer occurred in an

average of three to five minutes.

-- Successfully completed Phase 2 trial and presented positive results

for MAP0004, an orally inhaled formulation of dihydroergotamine, for

the potential treatment of migraine, at the American Headache Society

Meeting. In this randomized, double-blind, placebo-controlled trial,

SOURCE MAP Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
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