Exiqon A/S Interim Report for the Period 1 January - 30 June 2009 (Unaudited)

• Press Release
• Source: Exiqon A/S
• On 3:52 am EDT, Wednesday August 26, 2009

VEDBAEK, Denmark, Aug. 26, 2009 (GLOBE NEWSWIRE) -- Exiqon A/S (NASDAQ OMX Copenhagen: "EXQ") today announced 32% growth in revenue in the first six months of 2009 compared to the same period last year. Organic growth in Exiqon Life Sciences' research product sales was 21% on the year-earlier period. Exiqon's full-year revenue guidance is reduced DKK 10 million attributable to Exiqon Diagnostics and now based on an average USD/DKK exchange rate of 5.25 but otherwise maintained including a net loss for the year 2009 at the upper end of the interval DKK 115-130 million including costs of current incentive programs, including warrants, expensed in the amount of DKK 5 million.

 * Revenue increased 32% to DKK 58.4 million in the first six months
   of 2009 compared to DKK 44.5 million in the same period last year.
   In the second quarter of 2009, revenue increased 9% to
   DKK 30.6 million compared to DKK 28.0 million in the same period
   last year.

 * Total operating expenses increased 18% to DKK 97.4 million in the
   first six months of 2009 compared to DKK 82.7 million in the same
   period last year. In the second quarter of 2009, total operating
   expenses decreased 4% to DKK 46.4 million compared to
   DKK 48.3 million in the same period last year.

 * Net loss was DKK 81.2 million in the first six months of 2009. EPS
   amounted to DKK -2.68 in the first six months of 2009 and DKK -1.24
   in the second quarter of 2009.

 * Exiqon Diagnostics has been awarded DKK 24 million from the Danish
   National Advanced Technology Foundation to develop a diagnostic
   blood screening test for colon cancer.

 * Exiqon Diagnostics launched the KRAS test and after end period
   30 June 2009, the BRAF test for mutational analysis.

 * After end period 30 June 2009, Exiqon Life Sciences successfully
   launched its new "Home of LNA(tm)" strategy by offering custom LNA(tm)
   oligonucleotides.

 * After end period 30 June 2009, Exiqon Life Sciences has been
   restructured and the annual direct cost of operations has been
   reduced by DKK 40 million on a full-year basis.

CEO Lars Kongsbak says: "We have now restructured Exiqon Life Sciences. As part of the restructuring, we will improve margins through outsourcing of our manufacturing, and the first product lines have already been successfully outsourced. Our diagnostic development programs are progressing as planned, and we are excited about the grant we have received from the Advanced Technology Foundation to develop a miRNA based test which can detect colon cancer at an early stage simply from a blood sample."

To see the full interim report please visit Exiqon's website at http://www.exiqon.com/investor/

Exiqon A/S
Lars Kongsbak, CEO
+45 4566 0888
Cell: +45 4090 2101
Hans Henrik Chrois Christensen, CFO
+45 4566 0888
Cell: +45 4090 2131