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NUCRYST Pharmaceuticals announces 2007 third quarter results
Date:11/7/2007

WAKEFIELD, MA, Nov. 7 /PRNewswire-FirstCall/ - NUCRYST Pharmaceuticals Corp. today announced for the quarter ended September 30, 2007, it recorded a net loss of $2.3 million, or 13 cents per share on revenues of $7.5 million, compared to a net loss of $2.1 million, or 12 cents per share on revenues of $7.3 million recorded in the same period last year. Revenue in the third quarter 2007 includes a $5 million milestone that was partially offset by the recognition in the quarter of $3.4 million of a $4.5 million manufacturing cost rebate paid to Smith & Nephew.

At September 30, 2007, NUCRYST had $20.4 million in cash and short term investments. Further financial information follows at the end of the release.

"With our new agreements in place with Smith & Nephew plc, NUCRYST intends to focus on supporting the continued growth of the Acticoat(TM) brand and the pursuit of other opportunities for our nanocrystalline silver based products," said Thomas E. Gardner, Chairman, President & CEO, NUCRYST Pharmaceuticals .

NUCRYST Pharmaceuticals (NASDAQ: NCST; TSX: NCS) develops, manufactures and commercializes medical products that fight infection and inflammation using its patented atomically disordered nanocrystalline silver technology. Smith & Nephew plc sell a range of advanced wound care products under their Acticoat(TM) trade mark: Acticoat(TM) products incorporate NUCRYST's SILCRYST(TM) coatings and are sold in over 30 countries. NUCRYST is also developing pharmaceutical products to address medical conditions that are characterized by both infection and inflammation. The company has developed its proprietary nanocrystalline silver in a powder form for use as an active pharmaceutical ingredient, referred to
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SOURCE NUCRYST Pharmaceuticals Corp.
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