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

16,961,790) (23,018,090)

Add (deduct) items not involving cash:

Amortization of:

capital assets 317,780 387,274

intangible assets 6,748,787 9,477,808

leasehold inducement (11,432) -

Leasehold inducement - 102,888

Write-off of research inventory 387,667 296,687

Recovery of future income taxes (2,729,422) (1,097,521)

Stock-based compensation expense 1,002,480 405,699

Equity loss in ENI - 477,723

(Gain) losses of company transferred under

contractual arrangement (400,000) 618,922

Loss on disposal of capital assets and assets

held for sale 45,073 58,034

Management fees from ENI - (239,930)

Foreign exchange loss (gain) 8,583 (36,012)

Net change in operating assets and liabilities 6,792,452 232,953

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Cash used in operating activities (4,799,822) (12,333,565)

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INVESTING ACTIVITIES

Maturity of short-term investments 108,271,169 21,034,531

Purchase of short-term investments (130,361,807) (17,781,638)

Proceeds from disposal of short-term

investments 30,738 -

Acquisition of Protana assets - (3,109,756)

Proceeds from assets held for sale 265,401 2,118,220

Investment in ENI
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SOURCE Transition Therapeutics Inc.
Copyright©2007 PR Newswire.
All rights reserved

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