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

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-- heterodimers of HER2 and HER3 (HER2:HER3)

-- the HER3:PI3K complex, which is related to the Akt signaling pathway for tumor cell survival

-- the truncated form of HER2, known as p95.

These activated protein complexes are believed to mediate resistance to Herceptin(R) in patients with breast cancer and are targets of other cancer drugs in development.

"As we extend the range of assays beyond HER2, we will be able to address not only resistance pathways to Herceptin in breast cancer but also provide assays that may be informative in lung, colorectal and other cancers," added Young. "With a broad range of assays, our VeraTag platform is intended to inform the rational design of combination therapies, such as those for patients with resistance to Herceptin."

GAAP and Non-GAAP Proforma Results

Net Loss and Net Loss Per Share is shown below in accordance with GAAP and also on a Non-GAAP Proforma Basis. The Company is reporting Non-GAAP Proforma results which exclude certain items to provide a clearer view of ongoing results without the impact of non-cash valuation adjustments related to our convertible debt. A reconciliation of these Non-GAAP Proforma results to GAAP results is included with the Statement of Operations data attached to this release.

Three Months Ended Six Months Ended

June 30, June 30,

2008 2007 2008 2007

Net Loss ($ Millions)

GAAP Net Loss $(5.5) $(3.9) $(7.2) $(15.4)

Non-GAAP Proforma Net Loss $(5.7) (8.3) $(12.1) (18.1)

Net Loss Per Share ($)

GAAP Net Loss Per Share $(0.04) $(0.03) $(0.05) $(0.12)

Non-GAAP Proforma Net Loss

Per Share $(0.04) $(0.06) $(0.09) $(0.14)

Non-cash "mark-to-market" adj
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SOURCE Monogram Biosciences, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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