MAP Pharmaceuticals Reports Second Quarter of 2008 Financi...( MOUNTAIN VIEW Calif. Aug. 12 /- M...),Health

MOUNTAIN VIEW, Calif., Aug. 12 /PRNewswire-FirstCall/ -- MAP Pharmaceuticals, Inc. (Nasdaq: MAPP) today announced financial results for the second quarter ended June 30, 2008.

The net loss for the second quarter ended June 30, 2008 was $16.5 million compared with $8.7 million during the same period in 2007. The net loss for the first six months of 2008 was $30.8 million compared to $15.3 million for the first six months of 2007. As of June 30, 2008, MAP Pharmaceuticals had cash, cash equivalents and short-term investments of $76.2 million.

2008 Year-to-date accomplishments

-- Clinical development

-- Initiated a Phase 3 clinical program to evaluate UDB for the

potential treatment of pediatric asthma.

-- Initiated a Phase 3 clinical program to evaluate MAP0004 for the

potential treatment of migraine, pursuant to a Special Protocol

Assessment with the U.S. Food and Drug Administration.

-- Announced positive results from a pharmacokinetic clinical trial

of UDB, demonstrating lower systemic drug exposure when compared

to the currently marketed conventional nebulized budesonide.

-- Demonstrated positive results from a Phase 2a clinical study

evaluating MAP0005 for the potential treatment of asthma and

chronic obstructive pulmonary disease (COPD).

-- Peer-reviewed presentations

-- Published positive results from a Phase 2 study evaluating the

safety, tolerability and pharmacokinetics of MAP0004 in adult

asthmatics in Current Medical Research and Opinion.

-- Published positive results from a Phase 1 study evaluating the'/>"/>