SuperGen Reports 2007 Third Quarter Financi...(ide rights for Nipent and Surface Safeof...),Health

Date:10/29/2007

ide rights for Nipent and Surface Safe offset in part by higher research and development costs related to product development activities and an increase in the non-cash charge for stock-based compensation expense. Included on a separate line item in total costs and operating expenses for the nine months ended September 30, 2007, is the recognition of the deferred gain and additional milestone payments on the sale of products to Mayne Pharma and the recognition of gains on the sale of other products to Intas Pharmaceuticals.

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. Included in net income for the nine months ended September 30, 2007, is a gain on sale of products of $27.7 million offset in part by a non- cash operating charge relating to acquired in-process research and development of approximately $10.0 million, a non-cash charge of $3.2 million for stock- based compensation expense and an income tax provision of $236,000 resulting primarily from the anticipated tax impact of recognizing the various milestone payments received from the sale of certain non-core assets to third parties. Included in the net loss for the nine months ended September 30, 2006, is a non-cash gain for a change in valuation of derivatives of $1.3 million. There was no similar non-cash gain during 2007 since the related derivatives expired at the end of 2006.

As of September 30, 2007, the Company had approximately $87.5 million in unrestricted cash, cash equivalents and marketable securities.

Corporate News

July 2007:

-- The Company announced that investigators at The Translational

Genomics Research Institute (TGen) and TGen Clinical Research

Services (TCRS) at Scottsdale Healthcare in Scottsdale, Arizona, have

dosed the first patient
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SOURCE SuperGen Inc. Copyright©2007 PR Newswire. All rights reserved

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