- $24,540 in revenue from continuing operations compared to $nil; - $41,670 in revenue from discontinued operations compared to $228,201; and - $66,210 in total revenue compared to $228,201.

Revenue for the nine-month period ended September 30, 2009 compared to the same period last year:

- $1,476,234 in revenue from continuing operations compared to $50,110; - $378,970 in revenue from discontinued operations compared to $450,325; and - $1,855,204 in total revenue compared to $500,435.

The increase in the nine-month period for continuing operations is due mainly to the recognition of licensing option fees in the first quarter of 2009 from an option agreement entered into with MannKind Corporation in the fourth quarter of 2008 and licensing fees recognized in the second quarter of 2009 related to the Company's GLA program.

Expenditures (net of cost recoveries in each case) for the three-month period ended September 30, 2009 compared to the same period last year: - $2,461,085 in expenditures from continuing operations compared to $4,847,213; - $376,645 in expenditures from discontinued operations compared to $955,122; and - $2,837,730 in total expenses net of cost recoveries compared to $5,802,335.

Expenditures (net of cost recoveries in each case) for the nine-month period ended September 30, 2009 compared to the same period last year:

- $8,955,871 in expenditures from continuing operations compared to $14,510,694; - $2,774,345 in expenditures from discontinued operations compared to $3,091,510; and - $11,730,216 in total expenses compared to $17,602,204.

The overall decrease in expenditures is primarily due to the cost reductions implemented in the fourth quarter of 2008 and the third quarter of 2009, in addition to decreased preclinical costs as the majority of the preclinical work for the insulin clinical trial was completed in 2008. The reduction in cost recoveries for the nine-month period ended September 30, 2009 as compared to the corresponding prior year period resulted from the achievement of all outstanding milestones related to our agreement with AVAC Ltd. for the insulin program in 2008.

As of September 30, 2009 the Company had cash and cash equivalents from continuing operations of $1,737,150 and a net positive working capital balance of $1,069,357, compared to $1,926,966 ($3,819,796 including cash related to discontinued operations), and $646,156 ($3,730,413 including working capital from discontinued operations), respectively at December 31, 2008. Total long-term debt was $1,382,987 at September 30, 2009 compared to $752,644 ($5,127,829 including long-term debt from discontinued operations) at December 31, 2008.

As at November 12, 2009 the Company had 40,653,592 common shares outstanding, 12,655,341 warrants, 3,054,578 options, 711,920 broker warrants and 385,717 Deferred Stock Units.

SOURCE SemBioSys Genetics Inc.