Exhibit 99.1

 

1440 Davey Road
Woodridge, IL 60517
(Phone) 630.739.6744

(Fax) 630.739.6754
www.advancedlifesciences.com

 

FOR IMMEDIATE RELEASE

 

Company Contact: Joe Camp 630-754-4352
Email: jcamp@advancedlifesciences.com

February 19, 2008

 

Media Contact: Melanie Nimrodi, Financial Relations Board, 312-546-3508 Email: mnimrodi@frbir.com
Investors Contact: Kathy Price, Financial Relations Board, 213-486-6547
Email: kprice@frbir.com

 

Advanced Life Sciences Announces Fourth Quarter and Full Year 2007 Financial Results

 

CHICAGO, IL, February 19, 2008/PRNewswire/: — Advanced Life Sciences Holdings, Inc. (Nasdaq: ADLS), a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, cancer and respiratory diseases, today announced its financial results for the fourth quarter and full year ended December 31, 2007.

 

The net loss allocable to common shareholders for the three months ended December 31, 2007 was $5.6 million or ($.18) per share compared to a net loss allocable to common shareholders of $5.9 million or ($.21) per share for the three months ended December 31, 2006.  The net loss allocable to common shareholders for the full year 2007 was $32.5 million or ($1.12) per share compared to a net loss allocable to common shareholders of $20.7 million or ($.78) per share for 2006.  The increase in the net loss for the full year 2007 is due to increased costs involved in the clinical development of the Company’s lead compound cethromycin.

 

The company used approximately $6.0 million in cash in the fourth quarter of 2007 and ended the year with cash totaling $18.3 million.

 

“We are proud of our many operational and scientific accomplishments in 2007.  Most notably, the clinical success of cethromycin in community acquired pneumonia has placed us in a strong position to achieve our key 2008 objectives of completing a commercial partnership and submitting our NDA for CAP,” said Dr. Michael Flavin, Chairman and CEO of Advanced Life Sciences.

 

Operating Expense Analysis: 2007 versus 2006:

 

·                  Research and development expense.  Total research and development expense increased $8.5 million to approximately $25.7 million for the twelve months ended December 31, 2007 from approximately $17.2 million for the twelve months ended December 31, 2006.  The increase in R&D expense is related to clinical trials and manufacturing costs associated with the Company’s lead product, cethromycin.

 

·                  General and administrative expense.  General and administrative expense increased $1.4 million to $6.8 million for the twelve months ended December 31, 2007.   Salary and benefit expense increased $944,000 and was comprised of $614,000 of incremental salary and benefit expense and $330,000 in non-cash compensation expense related to stock option issuances.  Marketing expenses related to the branding of cethromycin increased $235,000 over 2006, the result of a larger presence at key scientific meetings throughout the year.  Facilities expense increased $143,000 as compared to 2006 which resulted from our facilities expansion that was completed during the fourth quarter of 2006.

 

Fourth Quarter Expense Analysis: 2007 versus 2006:

 

·                  Research and development expense.  Total research and development expense decreased $1.6 million to approximately $4.0 million for the three months ended December 31, 2007 from approximately $5.6 million for the three months ended December 31, 2006. The decrease in R&D expense reflects decreased development expenses associated with the completion of community acquired pneumonia clinical trials for cethromycin.

 

-MORE-

 

 


The following information was filed by Advanced Life Sciences Holdings, Inc. (ADLS) on Tuesday, February 19, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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