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SGX Pharmaceuticals Announces Financial Results for the Three and Nine Months Ended September 30, 2007
Date:11/13/2007

increased costs related to the development of our MET inhibitors. The decrease of $4.6 million for the nine month period was primarily attributable to a decrease of costs incurred for Troxatyl(TM) clinical trial activities, a reduction in subcontractor expenditures associated with our federal research grant, and lower depreciation expense.

General and administrative expenses for the three months ended September 30, 2007 and 2006 were $2.1 million and $1.9 million, respectively. General and administrative expenses for the nine months ended September 30, 2007 and 2006 were $6.4 million and $7.4 million, respectively. The increase of $0.2 million for the three month period was primarily attributable to increased professional services. The decrease of $1.0 million for the nine month period was primarily attributable to a decrease in non-cash stock-based compensation expense, together with a decrease in recruiting, salaries and professional services.

SGX reported a net loss attributable to common stockholders for the three months ended September 30, 2007 of $4.8 million, or $0.31 per share. This compares with a net loss attributable to common stockholders for the three months ended September 30, 2006 of $3.4 million, or $0.23 per share. For the nine months ended September 30, 2007, the net loss attributable to common stockholders was $9.9 million, or $0.65 per share. This compares with a net loss attributable to common stockholders for the nine months ended September 30, 2006 of $23.2 million, or $1.74 per share.

About SGX Pharmaceuticals

SGX Pharmaceuticals is a biotechnology company focused on the discovery, development and commercialization of innovative cancer therapeutics. The SGX oncology pipeline includes drug candidates from its FAST (TM) drug discovery platform, such as next generation BCR-ABL inhibitors being developed by SGX and in partnership with Novartis and MET tyrosine kinase inhibitors, including SGX523, and potent JAK2 inhibitors
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