Nabi Biopharmaceuticals Announces Second Quarter 2007 Financi...( Operating Loss Continues to Decline...),Health

Operating Loss Continues to Decline; Strategic Business Unit Realignment Completed; Clinical Update Provided for NicVAX Phase 2b Proof of Concept

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BOCA RATON, Fla., Aug. 1 /PRNewswire-FirstCall/ -- Nabi Biopharmaceuticals (Nasdaq: NABI) today announced its second quarter financial results. The company recorded a net loss from continuing operations of $5.3 million, or $0.09 per share, for the quarter ended June 30, 2007, compared to $13.7 million, or $0.22 per share for the quarter ended July 1, 2006. Revenues for the second quarter of 2007 were $20.9 million compared to $20.4 million in 2006. Nabi-HB(R) [Hepatitis B Immune Globulin (Human)] revenues were $8.7 million during the second quarter of 2007 compared to $7.2 million during the second quarter of 2006.

For the six months ended June 30, 2007, the company's net loss from continuing operations was $16.0 million, or $0.26 per share, compared to $29.1 million, or $0.48 per share, for the six months ended July 1, 2006. Revenues for the year to date period were $44.6 million compared to $39.9 million in the first half of 2006.

Total cash used in operating activities was $18.9 million during the first half of 2007, a 44% reduction compared to $33.7 million in the first half of 2006. Excluding discontinued operations, cash used in operating activities was $13.1 million for the first half of 2007, a 53% reduction compared to $27.7 million for six months ended July 1, 2006. Cash, cash equivalents and marketable securities were $103.9 million at the end of the second quarter.

Nabi has completed the formation of two strategic business units (SBUs) -- Nabi Biologics and Nabi Pharmaceuticals -- to realign and
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SOURCE Nabi Biopharmaceuticals Copyright©2007 PR Newswire.

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