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Micromet, Inc. Reports First Quarter 2009 Financial Results
Date:5/6/2009

7. The Company recorded a $1.3 million non-cash gain for this item in the first quarter of 2008.

Net cash provided by operating activities was $1.1 million for the three months ended March 31, 2009 compared to $0.4 million provided by operating activities for the same period in 2008. Micromet's cash, cash equivalents and investments were $47.1 million as of March 31, 2009. Based on our current operating projections, we believe the cash and cash equivalents as of March 31, 2009 will be sufficient to fund operations into the second half of 2010.

Conference Call and Audio Webcast Today, May 6, 2009, at 9:00 am Eastern Time.

To participate in this conference call, dial 800-320-2978 (U.S.) or 617-614-4923 (international), passcode: 90696322. The audio webcast can be accessed at: www.micromet-inc.com. A replay of the call will be available from 12:00 pm Eastern Time on May 6, 2009 (6:00 pm Central European Time) through Wednesday, May 13, 2009. The replay number is 888-286-8010 (U.S.) or 617-801-6888 (international), passcode: 58046416.

About Micromet, Inc.

Micromet, Inc. is a biopharmaceutical company developing novel, proprietary antibodies for the treatment of cancer, inflammation and autoimmune diseases. Its product development pipeline includes novel antibodies generated with its proprietary BiTE(R) antibody platform, as well as conventional monoclonal antibodies. BiTE antibodies represent a new class of antibodies that activate the T cells of a patient's immune system to eliminate cancer cells. Four of its antibodies are currently in clinical trials. Its BiTE antibody blinatumomab (MT103) is being evaluated in a phase 2 clinical trial for the treatment of patients with acute lymphoblastic leukemia (ALL), and in a phase 1 clinical trial for the treatment of patients with non-Hodgkin's lymphoma (NHL).
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SOURCE Micromet, Inc.
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