Panacos Pharmaceuticals, Inc. (PANC)

Panacos Pharmaceuticals Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2007	FY 2006	FY 2005	FY 2004	FY 2003
Period Ending	Sep 30, 2008	Dec 31, 2007	Dec 31, 2006	Dec 31, 2005	Dec 31, 2004	Dec 31, 2003
Net Income	-35.76	-37.46	-38.11	-59.08	-12.04	-4.51
Depreciation & Amortization	0.39	0.54	0.75	0.63	0.11	0.08
Other Amortization	0.84	0.26	-	0	0.12	0.06
Loss (Gain) From Sale of Assets	-	-	-	0.03	-	-
Asset Writedown & Restructuring Costs	-	1.27	-	33.19	-	-
Stock-Based Compensation	3.85	5.09	9.68	3.95	0.6	-
Other Operating Activities	-1.14	-1.6	-1.91	-0.02	-	-
Change in Accounts Receivable	0.03	-0.08	0.32	0.11	-0.14	-0.05
Change in Accounts Payable	-0.38	-0.25	1.31	1.44	0.07	0.14
Change in Other Net Operating Assets	1.03	1.2	-1.68	-1.9	1.5	0.33
Operating Cash Flow	-31.15	-31.04	-29.63	-21.65	-9.77	-3.95
Capital Expenditures	-0.1	-0.05	-0.52	-0.15	-0.08	-0.01
Sale of Property, Plant & Equipment	-	-	-	0.01	-	-
Cash Acquisitions	-	-	-	0.13	-0.45	-
Investment in Securities	10.99	15.2	-25.72	-	-	-
Other Investing Activities	0.03	-	0.05	0.42	-	-
Investing Cash Flow	10.92	15.15	-26.18	0.41	-0.53	-0.01
Long-Term Debt Issued	-	20.36	0.46	0.09	0.5	2.9
Long-Term Debt Repaid	-	-0.44	-0.31	-1.25	-0.69	-0.19
Net Debt Issued (Repaid)	8.78	19.92	0.15	-1.16	-0.19	2.72
Issuance of Common Stock	0.03	1.02	1.7	104.66	-	0.01
Other Financing Activities	-	-0.33	-0.03	-	-	-
Financing Cash Flow	8.81	20.61	1.82	103.5	14.7	2.73
Net Cash Flow	-11.42	4.73	-54	82.26	4.4	-1.23
Free Cash Flow	-31.24	-31.08	-30.15	-21.8	-9.85	-3.96
Free Cash Flow Margin	-31558.59%	-17268.33%	-10615.84%	-2077.79%	-736.65%	-367.25%
Free Cash Flow Per Share	-0.58	-0.58	-0.60	-0.63	-10.24	-9.82
Cash Interest Paid	2.15	0.68	0.02	0.07	0.03	0.04
Levered Free Cash Flow	-16.93	-16.67	-18.39	-11.39	-3.78	-2.25
Unlevered Free Cash Flow	-15.85	-16.22	-18.37	-11.34	-3.86	-2.21
Change in Working Capital	0.68	0.87	-0.04	-0.35	1.43	0.42

Source: S&P Global Market Intelligence. Standard template. Financial Sources.