Pharmexa announces expiry of stabilization period in connection with rights issue made in February 2008

With reference to announcement no. 3 of February 5, 2008 announcing the closing
of the rights issue, Pharmexa A/S (“Pharmexa”) now announces that the
stabilization period has expired. Danske Markets (a division of Danske Bank
A/S) was Lead Manager and stabilization agent for the rights issue. 

The Lead Manager has informed the company that no stabilization of the price of
Pharmexa's shares took place during the stabilization period. 

Hørsholm, March 10, 2008


Jakob Schmidt
CEO

Additional information:
Jakob Schmidt, CEO, tel +45 4516 2525
Claude Mikkelsen, Vice President, Corporate Affairs and Communication, tel +45
4516 2525 or +45 4060 2558 

For the editors: Pharmexa A/S is a leading company in the field of active
immunotherapy and vaccines for the treatment of cancer, serious chronic and
infectious diseases. Pharmexa's proprietary technology platforms are broadly
applicable, allowing the company to address critical targets in cancer and
chronic diseases, as well as serious infectious diseases such as HIV,
influenza, hepatitis and malaria. Its leading programs are GV1001, a peptide
vaccine that has entered phase III trials in pancreatic cancer and phase II
trials in liver cancer, and HIV and hepatitis vaccines in phase I/II.
Collaborative agreements include H. Lundbeck, GENimmune, IDM Pharma, Bavarian
Nordic and Ichor Medical Systems. With operations in Denmark, Norway and USA,
Pharmexa employs approximately 80 employees and is listed on the Copenhagen
Stock Exchange under the trading symbol PHARMX.