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MiddleBrook Pharmaceuticals Reports Second Quarter 2008 Results

1,841,675 1,929,978

Change in fair value of warrant 5,760,000 -

Stock-based compensation 791,908 1,290,286

Deferred rent and credit on lease

concession (187,094) (25,889)

Amortization of premium on

marketable securities (8,244) (60,642)

Loss on disposal of fixed assets 17,174 -

Changes in:

Accounts receivable (15,868) (2,467,478)

Inventories 231,760 244,566

Prepaid expenses and other

current assets (818,622) 49,456

Deposits other than on property

and equipment, and other assets 63,366 37,843

Accounts payable (191,582) 216,562

Accrued expenses (268,782) (3,239,993)

Deferred product revenue - 1,989,644

Net cash used in operating

activities (10,471,092) (23,176,584)

Cash flows from investing activities:

Purchases of marketable securities (2,363,866) (5,867,518)

Sale and maturities of marketable

securities - 500,000

Purchases of property and equipment - (19,592)

Deposits on property and equipment - (1,150,625)

Proceeds from sale of fixed assets 331,867 -

Net cash used in investing

activities (2,031,999) (6,537,735)

Cash flows from financing activities:

Proceeds from private placement of

common stock, net of issue c

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

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