Medarex Announces 2008 First Quarter Financi...(related to the outcome of clinical trial...),Health

Date:5/12/2008

related to the outcome of clinical trials, slower than expected rates of patient recruitment, unforeseen safety issues resulting from the administration of antibody products in patients, uncertainties related to product manufacturing, the need for additional capital, compliance with regulatory requirements, risks associated with the use of hazardous substances and risks associated with the enforceability of our patents as well 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, 2007. 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.

Medarex(R), the Medarex logo and UltiMAb(R) are registered trademarks of Medarex, Inc. All rights are reserved.

MEDAREX, INC.

Condensed Consolidated Statements of Operations

(In thousands, except per share data)

Three Months Ended

March 31,

(unaudited)

2008 2007

Contract and license revenues $7,984 $6,998

Reimbursement of development costs 4,019 4,541

Total revenues 12,003 11,539

Costs and expenses:

Research and development 49,292 47,022

General and administrative 1
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SOURCE Medarex, Inc. Copyright©2008 PR Newswire. All rights reserved

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