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Ardea Biosciences Appoints John W. Beck Chief Financial Officer, Announces Clinical Development Progress and Reports First Quarter 2008 Financial Results
Date:5/9/2008

607 611

Other Income 135 184

Net loss $(12,375) $(3,369)

Non-cash dividends on Series A

Preferred stock (60) (60)

Net loss applicable to common

shareholders $(12,435) $(3,429)

Basic and diluted net loss per

share applicable to common

stockholders $(0.93) $(0.37)

Shares used to compute basic and

diluted net loss per share

applicable to common stockholders 13,337 9,373

Condensed Balance Sheet Data

(In Thousands)

March 31 December 31

2008 2007

Cash, cash equivalents and short-

term investments 56,164 66,215

Total assets 59,368 68,840

Total stockholders' equity 52,839 63,739

Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding: sufficiency of cash resources and our goals, including the expected properties and benefits of RDEA806, RDEA427, RDEA119, RDEA436 and our other compounds and the results of preclinical, clinical and other studies. Risks that contribute to the uncer
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SOURCE Ardea Biosciences, Inc.
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