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Repligen Reports Second Quarter Fiscal Year 2008 Financial Results
Date:11/8/2007

627,000 as of March 31, 2007.

"We are very pleased to have monetized one of our intellectual property assets and that our Protein A business continues to provide a growing stream of revenue and profits," stated Walter C. Herlihy, President and Chief Executive Officer of Repligen Corporation. "Our financial strength will allow us to vigorously invest in our CTLA4 intellectual property, our Protein A business and our product pipeline without the financial risks normally associated with a clinical stage biotechnology company."

For the six-month period ended September 30, 2007, total revenue was $11,331,000 compared to $6,493,000 for the same period in fiscal year 2007. Gross profit on product revenue for the six-month period ended September 30, 2007 was $7,761,000 (71%) compared to $4,135,000 (68%) for the same period in fiscal year 2007. Net gain from litigation settlement for the six-month period ended September 30, 2007 was $40,170,000. Operating expenses, exclusive of the net gain from litigation settlement, were $10,746,000 for the six-month period ended September 30, 2007 compared to $7,710,000 for the same period in fiscal year 2007. Net income for the six-month period ended September 30, 2007 was $40,546,000 or $1.30 per diluted share compared to a net loss of $763,000 or $.03 per share in the same period in fiscal year 2007.

Corporate Update

Secretin for Imaging of the Pancreas

In September, we had a meeting with the FDA to discuss the positive results of our Phase 2 clinical study of RG1068, synthetic human secretin, for MRI imaging of the pancreas as well as the FDA's requirements for registration. Based on our discussion with the FDA, we believe that a single, well-controlled Phase 3 clinical trial which reproduces the Phase 2 study will be sufficient for product registration. We are currently finalizing the Phase 3 protocol and related documents and plan to initiate the Phase 3 study in the first qu
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SOURCE Repligen Corporation
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