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MiddleBrook Pharmaceuticals Reports First Quarter 2008 Results
Date:5/13/2008

52,756 $23,665,795

MIDDLEBROOK PHARMACEUTICALS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Three Months Ended March 31,

2008 2007

Cash flows from operating activities:

Net loss $(13,799,502) $(13,662,990)

Adjustments to reconcile net loss

to net cash in operating

activities:

Loss attributable to non-

controlling interest (242,905) -

Depreciation and amortization 940,635 951,897

Warrant expense 7,440,000 -

Stock-based compensation 537,735 580,711

Deferred rent and credit on

lease concession (26,667) (11,661)

Amortization of premium on

marketable securities - 8,953

Loss on disposal of fixed assets 19,074 -

Changes in:

Accounts receivable (77,216) (763,807)

Inventories 314,609 (87,862)

Prepaid expenses and other

current assets 348,648 47,891

Deposits other than on

property and equipment, and

other assets 42,641 194,087

Accounts payable 461,659 4,763,592

Accrued expenses (923,332) (270,989)

Net cash used in

operating activities (4,964,621) (8,250,178) '/>"/>

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

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