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Nabi Biopharmaceuticals Announces Third Quarter 2007 Financial Results and Positive Vote from November 8, 2007 Special Stockholders Meeting
Date:11/8/2007

Improved Financial Performance Continues; Stockholders Approve Sale of Nabi

Biologics to Biotest

BOCA RATON, Fla., Nov. 8 /PRNewswire-FirstCall/ -- Nabi Biopharmaceuticals (Nasdaq: NABI) today announced its third quarter financial results. The company recorded a net loss of $15.9 million, or $0.26 per share, for the quarter ended September 29, 2007, which included $7.5 million, or $0.12 per share, of expenses for unusual items described below. This was an improvement of 27% when compared to the net loss of $21.8 million, or $0.36 per share, for the quarter ended September 30, 2006, which included a loss of $5.5 million, or $0.09 per share, from discontinued operations. Revenues for the third quarter of 2007 were $20.1 million compared to $19.6 million in 2006. Nabi- HB(R) [Hepatitis B Immune Globulin (Human)] revenues were $7.4 million during the third quarter of 2007 compared to $6.8 million during the third quarter of 2006.

For the nine months ended September 29, 2007, the company's net loss from continuing operations was $31.9 million, or $0.52 per share, compared to $45.4 million, or $0.75 per share, for the nine months ended September 30, 2006. Revenues for the year to date period were $64.7 million compared to $59.5 million in 2006.

Total cash used in operating activities was $22.8 million during the first nine months of 2007, a 40% reduction compared to $38.0 million in the same period of 2006. Excluding discontinued operations, cash used in operating activities was $16.6 million for the nine months ended September 29, 2007, a 48% reduction compared to $31.9 million for same period in 2006. Cash, cash equivalents and marketable securities were $99.8 million at the en
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SOURCE Nabi Biopharmaceuticals
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