Atherogenics (AGIX) 8-K Other Events

EXHIBIT 99.1

ATHEROGENICS, INC.

BALANCE SHEET

October 31, 2008

(Unaudited)

Assets
Current assets:
Cash and cash equivalents	$    51,744,542
Prepaid expenses	1,134,595
Accounts receivable	18,856
Total current assets	52,897,993
Equipment and leasehold improvements, net of accumulated depreciation
and amortization	1,483,919
Total assets	$    54,381,912
Liabilities and Shareholders' Deficit
Current liabilities:
Accounts payable	$         194,147
Accrued compensation	240,818
Accrued and other liabilities	330,668
Total current liabilities not subject to compromise	765,633
Prepetition liabilities	306,337,734
Shareholders' deficit
Common stock	218,706,283
Warrants	598,362
Accumulated deficit	(472,026,100	)
Total shareholders' deficit	(252,721,455	)
Total liabilities and shareholders' deficit	$    54,381,912

ATHEROGENICS, INC.

STATEMENT OF OPERATIONS

For the month ended October 31, 2008

(Unaudited)

Revenues	$                  —
Operating expenses (1):
Research and development	861,230
General and administrative	463,418
Restructuring and impairment costs	—
Total operating expenses	1,324,648
Operating loss	(1,324,648	)
Interest and other income	—
Interest expense	—
Net loss before reorganization items	(1,324,648	)
Reorganization items, net	(223,693	)
Net loss	$    (1,548,341	)
Net loss per share –
basic and diluted	$             (0.04	)
Weighted average shares
outstanding – basic and diluted	39,518,492

(1)  Operating expenses include non-cash depreciation expense of  $195,815.