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

31, December 31, December 31, December 31, 2008 2007 2008 2007 $ $ $ $ ------------------------------------------------------------------------- OPERATING ACTIVITIES Net loss for the period (9,906,066) (5,651,186) (4,873,270) (1,552,208) Add (deduct) items not involving cash: Amortization of: capital assets 98,623 119,133 49,770 59,928 intangible assets 1,468,831 1,293,084 683,937 648,473 leasehold inducement (5,716) (5,716) (2,858) (2,858) Stock-based compensation expense 1,261,912 684,170 618,364 359,380 Gain of company transferred under contractual arrangement - (650,000) - (650,000) Loss on disposal of capital assets 10,294 - - - Unrealized foreign exchange (gain) loss (1,815,088) 26,150 (1,714,414) 12,968 Accrued interest on held-to-maturity investments (277,634) (664,566) (248,810) (460,232) Net change in operating assets and liabilities 220,032 4,308,794 1,235,990 5,882,782 ------------------------------------------------------------------------- Cash provided by (used in) operating activities (8,944,812) (540,137) (4,251,291) 4,298,233 ------------------------------------------------------------------------- INVESTING ACTIVITIES Maturity of short-term investments 164,334,463 202,906,278 46,750,925 41,670,570 Purchase of short-term investments (158,990,674)(214,446,806) (50,844,858) (53,916,928) Purchase of capital assets
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