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Medarex Announces 2007 Fourth Quarter and Year End Financial Results

ll as risks detailed from time to time in Medarex's public disclosure filings with the U.S. Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the fiscal year ended December 31, 2006. There can be no assurance that such development efforts will succeed or that developed products will receive required regulatory clearance or that, even if such regulatory clearance were received, such products would ultimately achieve commercial success. Copies of Medarex's public disclosure filings are available from its investor relations department.

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Condensed Consolidated Statements of Operations

(In thousands, except per share data)

Year Ended Three Months Ended

December 31, December 31,


2007 2006 2007 2006

Contract and license

revenues $35,906 $28,289 $15,135 $6,769

Reimbursement of

developments costs 20,352 20,357 5,362 4,557

Total revenues 56,258 48,646 20,497 11,326

Costs and expenses:

Research and development 198,317 194,512 56,857 52,187

General and administrative 46,925 51,928 11,905 16,801

Acquisition of in-process

technology 6,900 - - -

Operating loss (195,884) (197,794) (48,265) (7,662)

Equity in net loss of

affiliate - (1,037) - -

Interest income, net

SOURCE Medarex, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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