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MAP Pharmaceuticals Reports First Quarter of 2008 Financial Results
Date:5/12/2008

100,695

Liabilities and stockholders' equity

Current liabilities:

Accounts payable and accrued expenses $9,303 $8,912

Current portion of long-term debt 4,138 3,820

Total current liabilities 13,441 12,732

Long-term debt, less current portion 5,277 6,357

Total liabilities 18,718 19,089

Total stockholders' equity 68,174 81,606

Total liabilities and stockholders' equity $86,892 $100,695

MAP PHARMACEUTICALS, INC.

(a development stage enterprise)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except share and per share amounts)

(Unaudited)

Three Months Ended

March 31,

2008 2007

Operating expenses:

Research and development $11,815 $4,517

Sales, general and administrative 3,140 1,749

Total operating expenses 14,955 6,266

Loss from operations (14,955) (6,266)

Other income (expense), net 655 (393)

Net loss (14,300) (6,659)

Cumulative stock dividend

attributable to preferred

stockholders - (1,384)

Net loss attributable to common

stockholders $(14,300) $(8,043)

Net loss per share attributable to

common
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SOURCE MAP Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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