Arana Therapeutics Limited announced earnings results for the half year ended March 31, 2009. For the period, the company reported LBIT of AUD 3.6 million, EBITDA of AUD 1.7 million, pre-tax loss of AUD 3.9 million and loss after tax of AUD 4.4 million or AUD 0.019 per share on total revenue of AUD 24.2 million against EBIT of AUD 0.8 million, EBITDA of AUD 5.6 million, pre-tax profit of AUD 0.4 million and profit after tax of AUD 1.2 million or AUD 0.0049 per share on total revenue of AUD 19.7 million for the same period a year ago. Negative return on equity for the period was 1.5% compared to return on equity of 0.4% for the same period a year ago.

Arana Therapeutics Limited announced that two directors have retired from the board and four new directors nominated by majority shareholder Cephalon International Holdings Inc. have been appointed to the board. The directors who have retired are: Gordon Black as non-independent director and Lincoln Chee as non-independent director. Independent directors Robin Beaumont and Chris Harris will remain on the board for an interim period but Mr. Beaumont will step down as Chairman and assume the role of lead independent director. Messrs Beaumont and Harris will be joined by: Frank Baldino Jr., Chairman and Chief Executive Officer, Cephalon Inc.; Kevin Buchi, Senior Vice President and Chief Financial Officer, Cephalon Inc; Jeffry Vaught, Executive Vice President and Chief Scientific Officer, Cephalon Inc.; Lesley Russell, Executive Vice President and Chief Medical Officer, Cephalon Inc. Frank Baldino Jr. has been appointed Chairman of the Arana Board. The Independent Directors Committee, consisting of Robin Beaumont and Chris Harris, will continue to have sole responsibility for the conduct of all matters relating to the Cephalon bid for the company until that bid is closed.

Arana Therapeutics Limited reported consolidated earnings results for the first half ended March 31, 2009. For the period, the company reported loss before income tax of $3,911,000, loss from continuing operations of $4,375,000 and loss attributable to members of the company of $4,375,000 or 1.90 cents diluted loss per share on revenue from continuing operations of $24,193,000 compared to the profit before income tax of $421,000, profit from continuing operations of $1,155,000 and profit attributable to members of the company of $1,643,000 or 0.49 cents diluted earnings per share on revenue from continuing operations of $19,704,000 for the same period year ago. Net cash inflows from operating activities was $5,166,000 compared to the $2,260,000 for the same period year ago. Payments for property, plant and equipment was $1,415,000 compared to the $6,209,000 for the same period year ago.