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

d clinical trial and NDA expenses 801,679 2,776,543

Other accrued expenses 1,411,523 330,441

Accrued interest payable 20,391 22,756

Short-term lease payable 8,142 7,259

Short-term notes payable - related party 2,000,000 -

Total current liabilities 14,514,875 5,822,750

Long-term lease payable 6,595 12,818

Long-term grant payable 500,000 500,000

Long-term notes payable - related party - 2,000,000

Line of credit 3,915,000 3,915,000

Total liabilities 18,936,470 12,250,568

COMMITMENTS AND CONTINGENCIES

MINORITY INTEREST - -

STOCKHOLDERS' EQUITY (DEFICIT):

Common stock, $0.01 par value - 60,000,000

shares authorized; 40,805,932 issued and

outstanding at September 30, 2008; 38,502,987

shares issued and outstanding at

December 31, 2007 408,059 385,030

Additional paid-in capital 109,416,354 106,859,532

Deficit accumulated during the

development stage (119,613,300) (99,583,588)

Total stockholders' equity (deficit) (9,788,887) 7,660,974

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

(DEFICIT) $9,147,583 $19,911,542

ADVANCED LIFE SCIENCES HOLDINGS, INC. AND SUBSIDIARY

(A Development Stage Company)

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

Three months ended

September 30,


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SOURCE Advanced Life Sciences Holdings, Inc.
Copyright©2008 PR Newswire.
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