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MIGENIX Reports First Quarter Fiscal Year 2008 Financial Results


(1) At July 31, 2007 pursuant to the adoption of new accounting standards

Deferred transaction costs are netted against the Convertible royalty

participation units in liabilities


Unaudited - In Thousands Canadian dollars Three months ended

(except per share amounts) July 31,

2007 2006



Research and development collaboration $ 6 $ -


$ 6 $ -



Research and development 1,703 1,341

General and corporate 987 789

Amortization 137 226


$ 2,827 $ 2,356


Loss before other income (expense) $ (2,821) $ (2,356)

Accretion of convertible royalty

participation units (421) (300)

Interest income 143 144

Foreign exchange gain (loss) (1) 26


Loss and comprehensive loss for the period $ (3,100) $ (2,486)

Deficit, beginning of period

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