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Transition Therapeutics Announces Fiscal 2007 Year End Financial Results
Date:9/12/2007

tp://www.transitiontherapeutics.com.

Financial Statements to Follow:

CONSOLIDATED BALANCE SHEETS

As at June 30

(in Canadian dollars)

2007 2006

$ $

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ASSETS

Current

Cash and cash equivalents 1,377,387 4,074,582

Short-term investments 32,990,755 10,930,855

Receivables 741,607 371,663

Investment tax credits receivable 559,405 1,176,066

Research inventory - 587,501

Prepaid expenses and deposits 519,937 469,956

Assets held for sale - 381,948

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Total current assets 36,189,091 17,992,571

Long-term research inventory - 2,638,098

Capital assets, net 1,174,028 1,596,643

Intangible assets 26,632,609 21,900,712

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63,995,728 44,128,024

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LIABILITIES AND SHAREHOLDERS' EQUITY

Current

Accounts payable and accrued liabilities 2,866,655 3,396,013

Due to Elan Pharma International Limited 697,743 -

Current portion of long-term debt - 29
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SOURCE Transition Therapeutics Inc.
Copyright©2007 PR Newswire.
All rights reserved

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