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MAP Pharmaceuticals Reports Second Quarter of 2008 Financial Results
Date:8/12/2008

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safety and pharmacokinetics of MAP0004 in adults in Headache.

-- Delivered over 15 oral and poster presentations related to UDB and

MAP0004 at annual scientific conferences including: American

Academy of Allergy Asthma & Immunology (AAAAI), American Academy

of Neurology (AAN), Respiratory Drug Delivery (RDD), American

Thoracic Society (ATS) and American Headache Society (AHS).

-- Corporate progress

-- Added seasoned industry veterans to the management team and board

of directors, including: Donald J. Kellerman, Pharm.D. to the

position of Senior Vice President, Clinical Development and

Medical Affairs; Marco F. Rosa to the position of Vice President

of Human Resources; and H. Ward Wolff to the board of directors

and audit committee.

-- Secured a $20 million working capital loan to repay the existing

working capital loan and for general corporate purposes.

-- Acquired proprietary drug particle formulation technology from

Telesso Technologies Limited, formerly Eiffel Technologies

Limited.

"We continue to make progress toward our goal of providing better medicines to patients, with clearly differentiated product benefits for undermet medical needs," said Timothy S. Nelson, President and Chief Executive Officer of MAP Pharmaceuticals. "With two product candidates now in Phase 3 studies, we remain focused on building the team, infrastructure and resources we need to advance MAP Pharmaceuticals through Phase 3 trials, toward commercializing products that address major market opportunities."

Second Quarter and Six Month Financial Results

Research and development expenses for the second quarter and six months ended June 30, 2008 were $13.0 million and $24.8 million, respectively, compared to $6.3 million and $10.8 million, res
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SOURCE MAP Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
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