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Pharmos Corporation Reports 2007 Fourth Quarter and Year-end Results
Date:2/28/2008

t penetration of its drug products, to the development and commercialization of its pipeline products and to its expectations in connection with any future event, condition, performance or other matter, are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause results to differ materially from those set forth in these statements. Additional economic, competitive, governmental, technological, marketing and other factors identified in Pharmos' filings with the Securities and Exchange Commission could affect such results.

PHARMOS CORPORATION

Consolidated Statements of Operations

For the three months ended For the year ended

Dec. 31, 2007 Dec. 31, 2006 Dec. 31, 2007 Dec. 31, 2006

Expenses

Research &

development,

gross $2,172,023 $2,369,341 $11,457,566 $8,956,821

Grants (42,970) (362,049) (812,042) (1,445,513)

Research &

development,

net of grants 2,129,053 2,007,292 10,645,524 7,511,308

In-process

acquired

research and

development - 20,607,575 - 20,607,575

General &

administrative 1,699,876 2,070,260 6,698,601 9,108,867

Depreciation and

amortization 40,553 72,857 235,134 314,769

Total operating

expenses 3,869,482 24,757,984 17,579,259 37,542,519

Loss from

operations (3,869,482) (24,757,984) (17,579,259) (37,542,519)

Other income

(expense)

Interest income 156,166 370,805 938,312 1,778,042

Interest expense - - - -

Change in value o
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SOURCE Pharmos Corporation
Copyright©2008 PR Newswire.
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