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Monogram Announces 2008 Second Quarter Financial Results
Date:7/29/2008

46) $(15,430)

Basic and diluted net loss per common

share before cumulative effect of

change in accounting principle $(0.04) $(0.03) $(0.05) $(0.13)

Cumulative effect per share of change

in accounting principle $- $- $- $0.01

Basic and diluted net loss per common

share after cumulative effect of

change in accounting principle $(0.04) $(0.03) $(0.05) $(0.12)

Weighted-average shares used in

computing basic net loss per

common share 134,553 132,026 134,372 131,805

Reconciliation of Non-GAAP Proforma

Results to GAAP

Net loss after cumulative effect of

change in accounting principle $(5,518) $(3,872) $(7,246) $(15,430)

Adjustments for certain non-cash

items:

Cumulative effect of change in

accounting principle - - - (2,242)

Contingent Value Rights

valuation adjustment (72) - (72) -

Convertible debt valuation adjustment (66) (4,463) (4,802) (408)

Non-GAAP Proforma net loss (5,656) (8,335) (12,120) (18,080)

Non-GAAP Proforma net loss per common

share, basic $(0.04) $(0.06) $(0.09) $(0.14)

Management believes that this Non-GAAP proforma financial data supplements the Company's GAAP financial statements by providing investors with additional information which allows them to have a clearer picture of the Company's operations, financial performance and the comparability of the Company's operating results from period to period as they exclude the effects of revaluation of the Company's convertible debt that management believes are not indicative of the Company's ongoing operations. The presentation of this additional information is not meant to be considered in isolation or as a substitute
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SOURCE Monogram Biosciences, Inc.
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