HispanicBusiness

                        NewLink Genetics Corporation              Condensed Consolidated Statements of Operations                                (unaudited)             (In thousands, except share and per share amounts)                      Three Months Ended             Nine Months Ended                 ----------------------------  ----------------------------                 September 30,  September 30,  September 30,  September 30,                      2012           2011           2012           2011                 -------------  -------------  -------------  -------------Grant revenue    $         327  $         430  $       1,388  $       1,571Operating expenses:Research and development             4,779          3,301         13,349         10,276General and administrative          1,396          1,101          5,005          3,553                 -------------  -------------  -------------  -------------Loss from operations             (5,848)        (3,972)       (16,966)       (12,258)Other (expense) income, net                (3)           (14)           (36)           (20)                 -------------  -------------  -------------  -------------Net loss         $      (5,851) $      (3,986) $     (17,002) $     (12,278)                 =============  =============  =============  =============Net loss attributable to NewLink         $      (5,851) $      (3,986) $     (17,002) $     (12,277)                 =============  =============  =============  =============Net loss per common share, basic and diluted         $       (0.28) $       (1.09) $       (0.82) $       (3.37)                 =============  =============  =============  =============Weighted average number of common shares outstanding        20,887,689      3,658,122     20,729,174      3,647,127                 =============  =============  =============  =============                        NewLink Genetics Corporation                   Condensed Consolidated Balance Sheets                                (unaudited)             (In thousands, except share and per share amounts)                                               September 30,   December 31,                                                    2012           2011                                               -------------  -------------AssetsCurrent assets:  Cash, cash equivalents and certificates of   deposit                                     $      28,296  $      41,980  Prepaid expenses and other current assets              625            808                                               -------------  -------------    Total current assets                              28,921         42,788                                               -------------  -------------Property and equipment, net                            6,087          5,591                                               -------------  -------------Total assets                                   $      35,008  $      48,379                                               =============  =============Liabilities and EquityCurrent liabilities:  Accounts payable and accrued expenses        $       2,844  $       3,537  Deferred rent                                           76            913  Other current liabilities                              230          6,214                                               -------------  -------------    Total current liabilities                          3,150         10,664                                               -------------  -------------Long-term liabilities:  Royalty obligation payable                           6,000             --  Notes payable and obligations under capital   leases, excluding current portion                   1,221            942  Deferred rent, excluding current portion             1,414             --                                               -------------  -------------    Total long-term liabilities                        8,635            942                                               -------------  -------------Total liabilities                                     11,785         11,606                                               -------------  -------------Stockholders' equity:  Preferred Stock                                         --             --  Common stock                                           209            206  Additional paid-in capital                         121,492        118,043  Deficit accumulated during the development   stage                                             (98,478)       (81,476)                                               -------------  -------------Total NewLink Genetics stockholders' equity           23,223         36,773                                               -------------  -------------Total equity                                          23,223         36,773                                               -------------  -------------Commitments                                               --             --Total liabilities and equity                   $      35,008  $      48,379                                               =============  =============