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MIGENIX Reports First Quarter Fiscal Year 2008 Financial Results
Date:9/11/2007

0.0 0.0 1.1 0.6

MX-4509 0.0 0.0 0.2 0.2

Other Projects 0.0 0.0 0.3 0.3

---------------------------------

Total Program Expenses 0.4 0.4 3.1 3.2

---------------------------------

Unattributed Expenses

Personnel 0.7 0.6 2.7 2.7

Patent costs 0.3 0.2 0.8 0.9

Other 0.3 0.1 0.9 0.9

---------------------------------

Total Unattributed Expenses 1.3 0.9 4.4 4.5

---------------------------------

Total Research & Development Expenses $1.7 $1.3 $7.5 $7.7

---------------------------------

---------------------------------

(1) Before amortization expense, technology and license acquisition

costs, and write-offs of intangibles assets.

(2) Value of $0.0 million represents $nil to ~$50,000 in expenses during

the period.

Our Omiganan programs are being advanced by development and commercialization partners (Cadence Pharmaceuticals and Cutanea Life Sciences).

Celgosivir program costs were $0.4 million in Q1/08, relatively unchanged from Q1/07.

Costs in the MX-2401 program in Q1/08 were nominal (less than $0.1 million) (Q1/07: nominal). The Q1/08 MX-2401 program costs are net of $0.06 million in TPC assistance (Q1/07: $0.02 million).

Research and development costs not allocated to programs were $1.3 million in Q1/08 compared to $0.9 million in Q1/07. The approximate
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SOURCE MIGENIX Inc.
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