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SuperGen Reports 2007 Third Quarter Financial Results
Date:10/29/2007

Net income for the 2007 third quarter includes $1.8 million of first year

milestone payments resulting from prior sale of commercial products

DUBLIN, Calif., Oct. 29 /PRNewswire-FirstCall/ -- SuperGen Inc., (Nasdaq: SUPG), a pharmaceutical company dedicated to the discovery, rapid development and commercialization of therapies for solid tumors and hematological malignancies, today reported financial results for the third quarter and nine months ended September 30, 2007.

The Company reported net income for the 2007 third quarter of $192,000, or $0.00 per fully diluted share, compared with a net loss of $2.3 million, or $0.04 per fully diluted share, for the same prior year period. The Company reported net income for the nine months ended September 30, 2007, of $7.9 million, or $0.14 per fully diluted share, compared with a net loss of $10.2 million, or $0.19 per fully diluted share, for the same prior year period.

"We remain pleased with our year to date financial and operational results for 2007 as we further advance MP470, our oral tyrosine kinase inhibitor, in the clinic and continue to optimize our overall productivity across the discovery and development operations," said Dr. James Manuso, SuperGen's President and Chief Executive Officer.

Total revenues for the 2007 third quarter were $6.1 million compared with $8.3 million for the same prior year period. Royalty revenue for the 2007 third quarter was $6.1 million compared with $1.0 million for the same prior year period. Royalty revenue is earned pursuant to the license agreement entered into with MGI PHARMA during 2004, which granted MGI PHARMA exclusive rights to the development, manufacture, commercialization and distribution of Dac
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SOURCE SuperGen Inc.
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