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Advanced Life Sciences Announces Third Quarter 2008 Financial Results
Date:11/6/2008

CHICAGO, Nov. 6 /PRNewswire-FirstCall/ -- Advanced Life Sciences Holdings, Inc. (Nasdaq: ADLS), a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, cancer and respiratory diseases, today announced its financial results for the third quarter ended September 30, 2008.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080218/ALSLOGO)

The net loss available to common shareholders for the three months ended September 30, 2008 was $13.1 million or ($0.34) per share compared to $5.9 million or ($0.21) per share for the same period last year. The increase in the net loss is primarily attributable to $10.0 million of milestone expenses due to Abbott Laboratories as part of the cethromycin licensing agreement that were triggered as a result of the cethromycin new drug application (NDA) submission to the U.S. Food and Drug Administration (FDA) at the end of the third quarter.

"We achieved multiple significant milestones in the third quarter including establishing a major partnership, valued at more than $100 million, for the development and commercialization of cethromycin with Wyeth in the Asia Pacific region, and completing our cethromycin NDA submission in community acquired pneumonia," said Michael T. Flavin, Ph.D., chairman and chief executive officer of Advanced Life Sciences. "We believe that these are major accomplishments that significantly enhance the value of our lead drug candidate and underscore our company's emerging role in the large and growing global antibiotics market. We look forward to continuing this momentum through the fourth quarter and into
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SOURCE Advanced Life Sciences Holdings, Inc.
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