MINRAD International, Inc. Announces 2007 Financi...(2622 - Commitments and contin...),Health

Commitments and contingencies - -

Stockholders' equity:

Series A convertible preferred stock - -

Common stock 487 470

Additional paid in capital 80,869 76,513

Accumulated deficit (62,279) (43,481)

Total stockholders' equity 19,077 33,502

$ 41,995 $ 35,729

MINRAD INTERNATIONAL, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

Years Ended

December December

31, 31,

2007 2006

Revenue $12,952 $16,341

Cost of goods sold 13,518 10,754

Gross profit (566) 5,587

Operating expenses:

Sales and marketing 8,407 5,074

Research and development 5,404 2,916

Finance and administrative 4,375 4,636

Total operating expenses 18,186 12,626

Operating loss (18,752) (7,039)

Non-operating income (expenses):

Interest expense (2) (155)

Interest income 162 642

Warrant inducement
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