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MAP Pharmaceuticals Reports 2008 Fourth Quarter and Year End Financial Results
Date:3/2/2009

mic drug exposure when compared to the currently marketed conventional nebulized budesonide.

MAP0004

  • Received a Special Protocol Assessment with the U.S. Food and Drug Administration, and initiated our first Phase 3 clinical trial of MAP0004, for the potential treatment of migraine. Completed patient enrollment in the efficacy portion of this trial. Data are expected in the first half of 2009.

Pipeline Development

  • Announced positive results from a Phase 2a clinical trial of MAP0005 for the potential treatment of asthma and chronic obstructive pulmonary disease (COPD).

Other

  • Appointed H. Ward Wolff, Executive Vice President and Chief Financial Officer of Sangamo BioSciences, Inc., and Scott R. Ward, Senior Vice President and President, Medtronic CardioVascular, to the board of directors.

Fourth Quarter and 2008 Year End Financial Results

Research and development expenses for the fourth quarter and year ended December 31, 2008 were $17.7 million and $59.3 million, respectively, compared to $13.0 million and $31.4 million, respectively, for the same periods in 2007. The increase in research and development expenses for the fourth quarter ended December 31, 2008 as compared to the same period in 2007 was primarily driven by an increase in clinical expenses to support Phase 3 clinical programs initiated in 2008 for our two lead product candidates, UDB and MAP0004, and an increase in personnel related expenses to support these clinical programs. The increase in research and development expenses for the year ended December 31, 2008 as compared to the year ended December 31, 2007 was primarily driven by an increase in clinical expenses to support Phase 3 clinical pro
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SOURCE MAP Pharmaceuticals, Inc.
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