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Biodel Reports Second Quarter Fiscal Year 2011 Financial Results

Friday, May 6, 2011 General News J E 4
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Biodel Inc.(A Development Stage Company)

Condensed Statements of Operations

(in thousands, except share and per share amounts)

(unaudited)

December 3,

2003

Three Months Ended

Six Months Ended

(inception) to

March 31,

March 31,

March 31,

2010

2011

2010

2011

2011

Revenue

$

$

$

$

$

Operating expenses:

Research and development

7,014

2,902

15,768

8,408

124,636

General and administrative

3,377

2,305

5,793

4,882

52,507

Total operating expenses

10,391

5,207

21,561

13,290

177,143

Other (income) and expense:

Interest and other income

(2)

(5)

(7)

(10)

(5,516)

Interest expense

78

Adjustments to fair value of

  common stock warrant liability

237

(2,535)

(1,281)

Loss on settlement of debt

627

Operating loss before tax provision

  (benefit)

(10,389)

(5,439)

(21,554)

(10,745)

(171,051)

Tax provision (benefit)

20

3

3

6

(606)

Net loss

(10,409)

(5,442)

(21,557)

(10,751)

(170,445)

Charge for accretion of beneficial

  conversion rights

(603)

Deemed dividend — warrants

(4,457)

Net loss applicable to common

  stockholders

$

(10,409)

$

(5,442)

$

(21,557)

$

(10,751)

$

(175,505)

Net loss per share — basic and diluted

$

(0.44)

$

(0.21)

$

(0.90)

$

(0.41)

Weighted average shares outstanding —

  basic and diluted

23,885,856

26,469,890

23,867,152

26,444,219

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