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MiddleBrook Pharmaceuticals Reports Second Quarter 2008 Results
Date:8/14/2008

$100 Million EGI Investment to Close in September, Subject to Stockholder

Approval; Company Prepares for Potential Launch of MOXATAG(TM)

GERMANTOWN, Md., Aug. 14 /PRNewswire-FirstCall/ -- MiddleBrook Pharmaceuticals, Inc. (Nasdaq: MBRK), a pharmaceutical company focused on developing and commercializing novel anti-infective products, today announced financial and operational results for the quarter ended June 30, 2008.

MiddleBrook reported second quarter 2008 revenue of $2.5 million, compared to revenue of $2.4 million in the first quarter of 2008 and $2.7 million in the second quarter of 2007. Revenue for the first six months of 2008 increased to $4.9 million, from revenue of $4.5 million for the first six months of 2007.

The Company reported research and development (R&D) expenses in the second quarter of $3.6 million, compared to first quarter 2008 R&D expenses of $3.7 million and second quarter 2007 R&D expenses of $5.4 million. Total operating expenses for the second quarter of 2008 were $7.9 million, down from $9.1 million in the first quarter of 2008 and $12.2 million in the second quarter of 2007. Total operating expenses for the first half of 2008 decreased to $17.0 million, down from total operating expenses of $27.7 million for the first half of 2007. The Company also recorded a $1.7 million noncash gain in the second quarter of 2008 resulting from the change in the contractual fair value of the Company's warrant liability.

Net loss was $3.7 million for the second quarter, compared to a net loss of $13.8 million in the first quarter of 2008 and a net loss of $9.5 million in the second quarter of 2007. Net loss for the first six months of 2008 was $17.5 million, down from a net loss of $23.1 mil
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SOURCE MiddleBrook Pharmaceuticals, Inc.
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