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Medarex Announces 2008 Fourth Quarter and Year End Financial Results
Date:2/25/2009

6,271 1,389 3,290 Impairment loss on investments in partners (5,298) (2,141) (5,298) - Minority interest - Celldex - 4,699 - 157 -------- --------- -------- -------- Loss before provision (benefit) for income taxes (38,723) (27,055) (43,052) (44,818) Provision (benefit) for income taxes (258) 12 (59) 5 -------- --------- -------- -------- Net loss $(38,465) $(27,067) $(42,993) $(44,823) ======= ======= ======= ======= Basic and diluted net loss per share $(0.30) $(0.21) $(0.33) $(0.35) ======= ======= ======= ======= Weighted average number of common shares outstanding during the year - basic and diluted 128,152 126,665 128,444 127,409 ======= ======= ======= =======

                    Condensed Consolidated Balance Sheets
                                   (In thousands)

                                                  December 31,  December 31,
                                                      2008         2007
                                                  -----------   -----------
                                                                    (1)
    Cash, cash equivalents and
     marketable securities - Medarex                $353,668      $343,862
    Cash and cash equivalents - Celldex                    -         4,910
    Marketable securities - Genmab                         -       152,000
    Other current assets                              21,793        29,013
    Property, buildings and equipment, net            67,154        79,
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SOURCE Medarex, Inc.
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