Micromet, Inc. Reports Fourth Quarter and Full Year 2006 Financial Results (y 3)

Any forward-looking statements are made pursuant to Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, as such, speak only as of the date made. Micromet undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

    
    Micromet, Inc.
    Consolidated Balance Sheets
    (In thousands, except par value)
    (All figures in US$)
                                                   December 31,  December 31,                  
                                                      2006          2005
    Assets                                                  
    Current assets:                                          
     Cash and cash equivalents                       $24,301        $11,414
     Accounts receivable                               2,319          2,170
     Prepaid expenses and other current assets         2,048          1,043
    Total current assets                              28,668         14,627
    Property and equipment, net                        3,357          3,513
    Loans to related parties                               -            213
    Loans to employees                                    78             70
    Goodwill                                           6,917              -
    Patents, net                                       8,850          9,705
    Deposits and other assets                            243            113
    Restricted cash                                    3,059            636
    Total assets                                     $51,172        $28,877
    
    Liabilities and Stockholders' Equity (Deficit)          
    Current liabilities:                                    
     Accounts payable                                 $1,680         $1,287
     Accrued expenses                                 10,153          6,534
     Other liabilities                                   366          1,927
     Short-term note                                   1,320          2,852
     Current portion of long-term debt obligations       599          3,638
     Current portion of convertible notes payable          -          2,761
     Current portion of deferred revenue               2,972          6,035
    Total current liabilities                         17,090         25,034
    Convertible notes payable, net of current portion      -         11,844
    Deferred revenue, net of current portion             195             52
    Other non-current liabilities                      1,961            949
    Long-term debt obligations, net of current
     portion                                           7,408          5,531
    Commitments
    Stockholders' equity (deficit):                          
     Preferred stock, $0.00004 par value; 10,000
      shares authorized; no shares issued and
      outstanding                                          -              -
     Common stock, $0.00004 par value; 150,000 shares
      authorized; 31,419 and 17,915 shares issued and
      outstanding at December 31, 2006 and 2005,
      respectively                                         1              1
     Additional paid-in capital                      163,482         67,181
     Stock subscription from conversion                    -         23,108
     Stock subscription receivable                       (27)          (242)
     Accumulated other comprehensive income            5,869          6,234
     Accumulated deficit                            (144,807)      (110,815)
    Total stockholders' equity (deficit)              24,518        (14,533)
    Total liabilities and stockholders' equity
     (deficit)                                       $51,172        $28,877

    Micromet, Inc.
    Consolidated Statements of Operations
    (In thousands, except per share amounts)
                             Three Months Ended           Year Ended  
                                December 31,              December 31,
                              2006         2005        2006          2005
    Revenues                      
     Collaboration
      agreements            $12,596      $ 6,798      $25,449      $23,130
     License fees             1,085        1,818        1,959        2,482
     Other                      126           63          175          111
    Total revenues           13,807        8,679       27,583       25,723
     Operating expenses            
     Research and
      development             7,385        7,714       28,252       28,579
     In-process research
      and development             -            -       20,890            -
    General and
     administrative           3,495        1,732       12,012        6,861
    Total operating
     expenses                10,880        9,446       61,154       35,440
    Income/(loss) from
     operations               2,927        (767)     (33,571)      (9,717)
    Other income (expenses)        
     Interest expense         (193)      (1,147)      (1,725)      (5,176)
     Interest income            161           90          743          335
     Other income (expense)     500        (121)          561          288
    Net income/(loss)        $3,395     $(1,945)    $(33,992)    $(14,270)
     Beneficial conversion
      charge on issuance of
      preferred shares            -      (4,780)            -      (4,780)
    Net income/(loss)
     attributable to common
     shareholders            $3,395     $(6,725)    $(33,992)    $(19,050)
    Basic net income/(loss)
     per common share         $0.11      $(0.42)      $(1.29)      $(3.70)
    Diluted net income/
     (loss) per common
     share                    $0.11      $(0.42)      $(1.29)      $(3.70)
    Weighted average shares
     used to compute basic
     net income/(loss) per
     share                   31,416       15,239       26,366        5,147
    Weighted average shares
     used to compute
     diluted net income/
     (loss) per share        31,966       15,953       26,366        5,147

Web site: http://www.micromet-inc.com

Christopher Schnittker, SVP & CFO, of Micromet, Inc., +1-760-494-4238, cschnittker@micromet-inc.com; or Investor, Susan Noonan (U.S.), +1-212-966-3650, susan@sanoonan.com, or Ines-Regina Buth (Europe), +49-30-2363-2768, ines@akampion.com; or Media, Patricia Garrison (U.S.), +1-917-322-2567, pgarrison@rxir.com, or Evelyn Wolf (Europe), +49-89-4445-2099, evelyn@akampion.com, all for Micromet, Inc.