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Nuvelo, Inc.

Therapeutics developer announces third quarter 2004 financial results

For the 3 months ended September 30, 2004, Nuvelo reported a net loss of $10.9 million or $0.34 per share compared to a net loss of $10.9 million or $0.51 per share for the same period in 2003.

Revenues for the third quarter of 2004 were approximately $0.7 million, compared to revenues of $0.3 million for the same period in 2003. For the 9 months ended September 30, 2004 Nuvelo reported a net loss of $39.5 million or $1.30 per share, compared to a net loss of $40.8 million or $2.08 per share for the same period in 2003.

Revenues for the 9 months ended...

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