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Transition Therapeutics Announces Second Quarter Fiscal 2009 Financial Results
Date:2/11/2009

------------------------------------------------------- ------------------------------------------------------------------------- CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY For the six-month period ended December 31, 2008 and year ended June 30, 2008 (Unaudited) Number of Share Contributed Stock Shares Capital Surplus Options ------------------------------------------------------------------------- # $ $ $ Balance, July 1, 2007 21,230,741 133,988,318 4,487,752 1,538,396 ------------------------------------------------------------------------- Adjustment to opening deficit for change in accounting policy related to financial instruments - - - - Issued pursuant to private placement, net 1,736,107 23,968,567 - - Issued as additional consideration regarding Ellipsis Neurotherapeutics Inc. 174,123 1,890,976 - - Stock options exercised or cancelled 45,736 414,679 4,499 (166,534) Stock-based compensation expense - - - 1,721,873 Net loss and comprehensive loss for the year - - - - ------------------------------------------------------------------------- Balance, June 30, 2008 23,186,707 160,262,540 4,492,251 3,093,735 ------------------------------------------------------------------------- Net loss for the six-month period ended December 31, 2008
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