Nabi Biopharmaceuticals Announces Second Quarter 2007 Financi...(optimize ourbusinesses and support the s...),Health

Date:8/19/2007

optimize our businesses and support the strategic alternatives process. In connection with this realignment, the company also created a Corporate Shared Services (CSS) group. Given the creation of these two SBUs and the CSS group, Nabi has revised its segment reporting disclosures. Second quarter operating results for these segments were:

-- Nabi Biologics revenues were $20.8 million in the second quarter of

2007, which included $11.9 million and $8.7 million in sales of

antibody and Nabi-HB products, respectively. Nabi Biologics operated

as a profitable SBU, with an operating income of $1.1 million for the

three months ended June 30, 2007.

-- The Nabi Pharmaceuticals SBU posted an operating loss of $2.8 million

in the second quarter of 2007 driven by its research and development

costs, which were strategically reduced by 56% from $6.4 million

during the same quarter in 2006.

-- Corporate Shared Services costs totaled $6.7 million for the three

months ended June 30, 2007, a 20% reduction from the second quarter of

2006.

"We are pleased to see the stand-alone performance of the Nabi Biologics SBU and continue our efforts to strengthen and advance the Biologics pipeline," said Dr. Leslie Hudson, interim president and chief executive officer of Nabi Biopharmaceuticals. "We have also taken critical steps to move Nabi Pharmaceuticals - and its key programs, NicVAX and StaphVAX - closer to a strategic partnership and to the market. We are very optimistic about the clinical benefit of NicVAX, as evidenced by our continuing flow of positive data from our NicVAX Phase 2b trial."

NicVAX Phase 2b Clinical Trial Update

Nabi also announced today initial nine-month findings from its ongoing trial of NicVAX(R) (Nicotine Conjugate Vaccine), the company's innovative and proprietary investigational vaccine being developed to treat nicotine addiction and prevent smok
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SOURCE Nabi Biopharmaceuticals Copyright©2007 PR Newswire.

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