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SGX Pharmaceuticals Announces Fourth Quarter and Full Year Financial Results
Date:3/12/2008

Conference call scheduled today at 8:00 a.m. Pacific Time

SAN DIEGO, March 12 /PRNewswire-FirstCall/ -- SGX Pharmaceuticals (Nasdaq: SGXP) today announced financial results for the year and fourth quarter ended December 31, 2007. For the full year 2007, the Company posted total revenues of $34.7 million and a net loss of $16.0 million, or $1.01 per share. For the quarter ended December 31, 2007, the Company posted total revenues of $7.7 million and a net loss of $6.1 million, or $0.35 per share. Cash and cash equivalents totaled $39.0 million at December 31, 2007 compared to $33.9 million at December 31, 2006.

2007 Overview and Pipeline Update

-- SGX523: In November 2007, the Company submitted an investigational new

drug application (IND) to the FDA, only ten months after designating

this small-molecule MET receptor tyrosine kinase inhibitor as a

development candidate. Two Phase I studies were initiated in January

2008 in subjects with solid tumors; patient enrollment is ongoing.

-- SGX126: Expanding the MET program, in November 2007, SGX designated

SGX126 as its next MET development candidate. Like SGX523 and the

Company's BCR-ABL inhibitors, this development candidate was discovered

using the Company's FAST(TM) platform. This orally-bioavailable small

molecule shows potent and selective in vitro and in vivo activity with

a profile complementary to that of SGX523.

-- SGX393: This selective, orally-bioavailable BCR-ABL inhibitor is

currently in IND enabling studies and, pending successful completion,

an IND submission is planned during the second quarter of 2008. SGX393

is a potent inhibi
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SOURCE SGX Pharmaceuticals
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