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

Nine months ended

September 30,

2008 2007

Revenue:

Management fees $- $-

Grants 32,006 -

Royalty-related party - -

Total revenue 32,006 -

Expenses:

Research and development 14,798,173 21,722,174

Contracted research and

development-related party - -

Selling, general and administrative 5,237,579 5,362,769

Total expenses 20,035,752 27,084,943

Loss from operations (20,003,746) (27,084,943)

Net other (income) expense:

Interest income (284,330) (638,396)

Interest expense 310,296 350,268

Gain on sale of interest in Sarawak

Medichem Pharmaceuticals joint

venture - -

Net other (income) expense 25,966 (288,128)

Net loss (20,029,712) (26,796,815)

Less accumulated preferred stock

dividends of subsidiary for the

period 131,250 131,250

Net loss available to common

shareholders $(20,160,962) $(26,928,065)

Net loss per share available to

common shareholders - basic and

diluted $(0.52) $(0.95)

Weighted average shares outstanding -

basic and diluted
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SOURCE Advanced Life Sciences Holdings, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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