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MAP Pharmaceuticals Reports Second Quarter of 2010 Financial Results

Tuesday, August 3, 2010 Corporate News J E 4
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MAP PHARMACEUTICALS, INC.

(a development stage enterprise)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except share and per share amounts)

(Unaudited)

Three Months Ended June 30,

Six Months Ended June 30,

2010

2009

2010

2009

Collaboration revenue

$

-

$

8,645

$

-

$

16,129

Operating expenses:

   Research and development 

8,242

9,628

18,028

23,703

   Sales, general and administrative

3,910

3,437

7,791

6,245

   Total operating expenses

12,152

13,065

25,819

29,948

Loss from operations 

(12,152)

(4,420)

(25,819)

(13,819)

Other expense, net 

(337)

(549)

(728)

(1,070)

Net loss 

(12,489)

(4,969)

(26,547)

(14,889)

Net loss per share attributable to common  stockholders, basic and diluted

$

(0.47)

$

(0.24)

$

(1.01)

$

(0.72)

Weighted-average common shares used in  computing net loss per share attributable to  common stockholders, basic and diluted

26,480,166

20,699,343

26,167,861

20,641,878

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