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

2,729,422 1,097,521

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Net loss for the year (16,961,790) (23,018,090)

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Deficit, beginning of year,

As originally stated (69,504,180) (46,486,090)

Adjustment for change in accounting

policy related to research inventory (3,225,599) -

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Deficit, beginning of year, as restated (72,729,779) (46,486,090)

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Deficit, end of year (89,691,569) (69,504,180)

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Basic and diluted net loss per common share $(0.87) $(1.53)

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CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY

For the years ended June 30, 2007 and 2006

(in Canadian dollars)

Number of Share Contributed Stock

Shares Capital Surplus Options

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$ $ $

Balance, July 1, 2005 13,344,007 77,254,351 2,811,966 743,628

Share issued for

purchased assets of

Protana, net 222,222 1,184,569 - -

Issued pursuant to

bought deal

financing, net 1,730,556 9,648,600
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SOURCE Transition Therapeutics Inc.
Copyright©2007 PR Newswire.
All rights reserved

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