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Neurochem reports results for fourth quarter and fiscal year 2007 and important advances on corporate objectives
Date:2/20/2008

lue of third party asset-backed commercial paper amounted to a loss of $1,184,000 for the quarter and year ended December 31, 2007 and represents a provision recorded on the valuation of asset-backed commercial paper held by the Company. Refer to Liquidity and Capital Resources section for more details.

Foreign exchange loss amounted to $54,000 for the current quarter (gain of $1,130,000 for the year), compared to a gain of $245,000 for the same quarter in the previous year (loss of $280,000 for the year). Foreign exchange gains or losses arise on the movement in foreign exchange rates in relation to the Company's net monetary assets denominated in currencies other than US dollars, which is its functional and reporting currency, and consists primarily of monetary assets and liabilities denominated in Canadian dollars. Foreign exchange gains recognized for the year ended December 31, 2007, are mainly attributable to the strengthening of the Canadian dollar compared to the US dollar during the period.

Other income amounted to $287,000 for the current quarter ($1,274,000 for the year), compared to $282,000 for the same quarter in the previous year ($1,348,000 for the year). Other income consists of non-operating revenue, primarily sub-lease revenue. The 2006 income includes an amount of $293,000 in respect of the recovery of prior years' property taxes.

Share of loss in a company subject to significant influence amounted to nil for the current quarter ($327,000 for the year), compared to $489,000 for the corresponding quarter in the previous year ($2,440,000 for the year). Non-controlling interest amounted to nil for the current quarter ($109,000 for the year), compared to $162,000 for the corresponding quarter in the previous year ($801,000 for the year). These items result from the consolidation of the Company's interest in a holding company (Innodia Holding) that owns shares of Innodia Inc., for which Neurochem is the primary beneficiary. The sh
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SOURCE NEUROCHEM INC.
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