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IDM Pharma, Inc. (IDMI) Reports 2007 Financial Data

IDM Pharma, Inc. (Nasdaq: IDMI) today reported financial results for the fourth quarter and full year ended December 31, 2007. The financial information represents both the results from IDM Pharma, Inc. and its subsidiary, IDM Pharma S.A.

Total revenues for the year ended December 31, 2007 were $14.6 million, with a net loss of $18.3 million. Cash on hand was $28.4 million; up from 2006 which was $10.2 million but lower from the $33.2 million reported on September 30, 2007. The company states they believe that their existing cash resources are sufficient to meet their cash requirements until the first half of 2009, based on current development and operations plans.

IDM Pharma completed a registered direct offering of their common stock in June of 2007, warrants to purchase common stock, and received approximately $25 million in gross proceeds. According to the company, they are evaluating the research and development programs, including related assets and costs as well as strategic alternatives.

IDM Pharma is a biopharmaceutical company. The company continues working on the development of innovative cancer products that destroy cancer cells and prevent tumor recurrence.

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