Summary: Pharmexa reported a net loss of DKK 194.6 million in 2008, compared to
a net loss of DKK 164.7 million in 2007. The net loss is significantly higher
than the latest projection of a loss of DKK 150 million for 2008. The increased
net loss is primarily due to the write-down, by DKK 42.5 million, of the
intangible assets relating to the activities in Pharmexa-Epimmune in the US. On
March 3, 2009, Pharmexa announced that a conditional agreement has been signed
regarding a combination of Pharmexa A/S and Affitech AS.
