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

preferred shares into 158,342 common shares in respect of a milestone achieved in the MX-2401 program in April 2007. As of August 31, 2007 the 4,000,000 Series E preferred shares representing potential milestone payments of US$4,000,000 can be redeemed for the aggregate sum of US$1 following the expiry of the milestone obligations associated with these preferred shares.

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Conference Call

Investors, analysts and the media are invited to participate in a conference call Tuesday September 11, 2007 at 11:00 a.m. ET (8:00 a.m. PT) to discuss this announcement. To participate in the conference call, please dial 416-644-3415 or 1-800-732-9303. The call will be available for replay until September 25, 2007 by calling 416-640-1917 or 1-877-289-8525 and entering the pass code 21244947 followed by the number sign. The live and archived web cast can be accessed through the company's website at http://www.migenix.com for the next 90 days.

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Selected Financial Highlights

BALANCE SHEETS July 31, April 30,

Unaudited - In Thousands of Canadian dollars 2007 2007

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Assets

Cash and cash equivalents $7,376 $2,945

Short-term investments 5,437 12,365

Other current assets 1,318 1,245

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Total current assets $14,131 $16,555

Long-term investments 1 1

Equipment 928
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SOURCE MIGENIX Inc.
Copyright©2007 PR Newswire.
All rights reserved

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