Coronado Biosciences Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2012

Coronado Biosciences Reports Financial Results for the Fourth Quarter and Year
Ended December 31, 2012

BURLINGTON, Mass., March 14, 2013 (GLOBE NEWSWIRE) -- Coronado Biosciences,
Inc. (Nasdaq:CNDO), a biopharmaceutical company focused on the development of
novel immunotherapy biologic agents for the treatment of autoimmune diseases
and cancer, announced today its financial results for the fourth quarter and
year ended December 31, 2012.

"We made significant strides in 2012 towards increasing the value of our
product candidates and expanded our pipeline of clinical trials," said Dr.
Harlan F. Weisman, Coronado's Chairman and CEO. "It was an important year for
Coronado in that we signed a collaboration agreement with Dr. Falk Pharma GmbH
(Falk) and Ovamed GmbH (Ovamed) for the development of TSO (Trichuris suis ova
or CNDO-201) for Crohn's disease, initiated TRUST-I, our phase 2 clinical
trial of TSO in Crohn's disease, and initiated two investigator-initiated
studies evaluating TSO in ulcerative colitis and autism spectrum disorders.
Additionally, we commenced a phase 1/2 trial of CNDO-109 activated allogeneic
natural killer (NK) cells, our second technology, in acute myeloid leukemia
(AML). From a financial standpoint, in 2012, we conducted our first public
offering with net proceeds of $26.5 million and secured a $15.0 million loan
facility with Hercules Technology Growth Capital to further support our
clinical development efforts.

"This is an exciting time for Coronado. We believe results from the two phase
2 trials in Crohn's disease, and possibly data from the autism study and the
recently announced investigator-initiated psoriasis study, have the potential
to positively validate the hygiene hypothesis and our mission to provide
life-changing therapies for autoimmune diseases during 2013. We are committed
to continuing our momentum throughout 2013, starting with the initiation of
several more investigator-initiated studies for TSO in various autoimmune
diseases in 2013."

Financial Highlights:

  *Coronado reported a net loss of $8.7 million, or $0.36 per share, for the
    fourth quarter of 2012 compared to a net loss of $6.7 million, or $0.52
    per share, for the fourth quarter of 2011. For the year ended December 31,
    2012, Coronado reported a net loss of $ 27.6 million, or $1.27 per share,
    compared to a net loss of $36.4 million, or $4.74 per share before the
    common stock dividend to Series A Preferred Stockholders, for 2011.
  *Research and development expenses were $17.5 million for the year ended
    December 31, 2012, compared to $8.6 million for 2011. General and
    administrative expenses totaled $8.7 million for the year ended December
    31, 2012, compared to $5.8 million for 2011. In 2012, R&D included
    expenses related to the TSO clinical program and G&A included expenses
    related to the company's infrastructure growth and increased business
    activity.
  *At December 31, 2012, Coronado's cash and cash equivalents totaled $40.2
    million. During the first quarter of 2013, and through March 13, 2013, the
    company sold an aggregate of approximately 1.4 million shares of common
    stock under an at market issuance facility for net proceeds of $10.5
    million.

Recent Corporate and Scientific Highlights:

  *Initiated phase 1/2 trial of CNDO-109 activated allogeneic NK cells in AML
  *Signed Clinical Trial Agreement with the National Institute of Allergy and
    Infectious Diseases (NIAID), part of the National Institutes of Health
    (NIH), to evaluate TSO for the treatment of ulcerative colitis in a
    multi-center phase 2 clinical trial that will be conducted by the
    NIAID-funded Autoimmunity Centers of Excellence (ACE)
  *Acquired manufacturing rights to TSO from Ovamed, for North America, South
    America, and Japan, Coronado's licensed territory and, in conjunction
    therewith, acquired a lease agreement to establish a manufacturing
    facility in Woburn, MA to produce TSO
  *Appointed Dr. Harlan F. Weisman, a director for the company since August
    2012, Chairman and CEO
  *Signed Research Collaboration and License Agreement with Freie Universität
    Berlin for secretory products of Trichuris suis
  *Commenced an investigator-initiated study evaluating TSO in psoriasis

Upcoming Events:

  *ROTH Capital Partners 25th Annual Growth Stock Conference, March 18, 2013
  *Analyst Event, April 9, 2013

Conference Call and Webcast Information

Coronado management will review its fourth quarter and year-end financial
results and development programs via conference call and webcast today at 8:30
AM EDT. To participate in the conference call, please dial 877-312-5413 (toll
free from the US and Canada), or 253-237-1511 (for international callers).
Investors may also access a live audio webcast of the call at
www.coronadobiosciences.com on the Events & Webcasts page.

A replay of the webcast will be available shortly after the conclusion of the
call. The webcast archive will remain available for one year. An audio replay
will also be available shortly after the conclusion of the call and will be
made available until March 24, 2013. The audio replay can be accessed by
dialing 855-859-2056 (toll free from the US and Canada), or 404-537-3406 (for
international callers) and entering Event ID 15400780.

About Coronado Biosciences

Coronado Biosciences is engaged in the development of novel immunotherapy
biologic agents. The company's two principal pharmaceutical product candidates
in clinical development are: TSO (Trichuris suis ova or CNDO-201), a biologic
for the treatment of autoimmune diseases, such as Crohn's disease, ulcerative
colitis and multiple sclerosis; and CNDO-109, a biologic that activates
natural killer (NK) cells, for the treatment of acute myeloid leukemia (AML),
multiple myeloma and solid tumors. For more information, please visit
www.coronadobiosciences.com.

The Coronado Biosciences, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=13033

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Such statements include, but are not limited to, any
statements relating to the company's product development programs and any
other statements that are not historical facts. Forward-looking statements are
based on management's current expectations and are subject to risks and
uncertainties that could negatively affect our business, operating results,
financial condition and stock price. Factors that could cause actual results
to differ materially from those currently anticipated include risks relating
to the cost, timing, and results of research and development activities,
uncertainties relating to preclinical and clinical testing, our ability to
attract, integrate and retain key personnel, financing and strategic
agreements and relationships, the early stage of products under development,
our need for substantial additional funds, government regulation, patent and
intellectual property matters, our dependence on third party suppliers, and
competition, as well as other risks described in our SEC filings. We expressly
disclaim any obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to reflect any
change in our expectations or any changes in events, conditions or
circumstances on which any such statement is based, except as required by law.

CORONADO BIOSCIENCES, INC. AND SUBSIDIARY
(A development stage enterprise)
Consolidated Balance Sheets
($ in thousands)
                                                       
                                                       
                                           December 31, December 31,
                                           2012         2011
ASSETS                                                  
Cash and cash equivalents                   $40,199      $23,160
Prepaid and other current assets            393          215
Total current assets                        40,592       23,375
Property & equipment net                    51           —
Other                                       349          —
Total Assets                                $40,992      $23,375
                                                       
LIABILITIES AND STOCKHOLDERS' EQUITY                    
Current liabilities                         $5,132       $3,493
Note payable, non-current                   12,386       750
Other long-term liabilities                 1,441        —
Total Liabilities                           18,959       4,243
Stockholders' Equity                        22,033       19,132
Total Liabilities and Stockholders' Equity $40,992      $23,375


CORONADO BIOSCIENCES, INC. AND SUBSIDIARY
(A development stage enterprise)
Consolidated Statements of Operations
($ in thousands except for share amounts)

                                                                 
                             For the three months ended For the twelve months
                                                         ended
                             December 31,               December 31,
                             2012          2011         2012        2011
Operating expenses:                                               
Research and development      $4,585        $3,442       $17,468     $8,583
General and administrative    2,671         1,790        8,665       5,755
In-process research and       1,043         —            1,043       20,706
development
Loss from operations          (8,299)       (5,232)      (27,176)    (35,044)
Interest income               84            54           236         165
Interest expense              (449)         (19)         (670)       (74)
Warrant expense               —            (1,522)      —           (1,407)
Net loss                      (8,664)       (6,719)      (27,610)    (36,360)
Common Stock dividend to
Series A Convertible          —             —            —           (5,861)
Preferred Stockholders
Net loss attributed to Common ($8,664)      ($6,719)     ($27,610)   ($42,221)
Stockholders
Basic and diluted net loss    ($0.36)       ($0.52)      ($1.27)     ($5.51)
per common share
Weighted average common
shares outstanding—basic and  24,385,981    12,901,980   21,654,984  7,662,984
diluted

CONTACT: Lucy Lu, MD, Executive Vice President &
         Chief Financial Officer
         Coronado Biosciences, Inc.
         781-652-4525; ir@coronadobio.com
        
         Marcy Nanus, Vice President
         The Trout Group, LLC.
         646-378-2927; mnanus@troutgroup.com
        
         Susan Forman
         Dian Griesel Inc.
         212-825-3210; susan@dgicomm.com

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