NEW YORK, Nov. 13 /PRNewswire-FirstCall/ -- Cadus Corporation (OTC Bulletin Board: KDUS.OB) announced today financial results for the third quarter ended September 30, 2007.

Revenues were $0 for the third quarter of 2007 and for the same period in 2006. Net income for the third quarter of 2007 was $240,227, compared to net income of $200,335 for the same period in 2006. Basic net income per share was $0.02 for the third quarter of 2007 and for the same period in 2006.

Revenues were $100,000 for the first nine months of 2007 and for the same period in 2006. Net loss for the first nine months of 2007 was $99,282, compared to net income of $376,533 for the same period in 2006. Basic net loss per share for the first nine months of 2007 was $0.01, compared to basic net income per share for the same period in 2006 of $0.03.

As of October 31, 2007, Cadus had 13,144,040 shares outstanding.

This press release may contain forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in the company's annual report on Form 10-K for the year ended December 31, 2006. These include risks and uncertainties relating to the company's ability to license its technologies to third parties, the company's capital needs and uncertainty of future funding, the company's history of operating losses, the unpredictability of patent protection and the risk of obsolescence of the company's technologies.

                              CADUS CORPORATION
                    Condensed Consolidated Balance Sheets

                                      ASSETS

                                              September 30,      December 31,
                                                  2007               2006
                                               (Unaudited)        (Audited)

    Current assets:

      Cash and cash equivalents                $25,686,189       $24,602,202
      Prepaid and other current assets              46,459             5,210
      Investment in marketable securities               --           628,585

        Total current assets                    25,732,648        25,235,997

    Investment in other ventures                   183,416           173,427
    Patents, net                                   572,443           637,267
        Total assets                           $26,488,507       $26,046,691


                      LIABILITIES AND STOCKHOLDERS' EQUITY

    Current liabilities:
    Accrued expenses and other current
     liabilities                                   $94,612           $61,307

        Total current liabilities                   94,612            61,307

    Commitments

    Stockholders' equity:
      Common stock                                 132,857           132,857
      Additional paid-in capital                59,844,355        59,844,355
      Accumulated deficit                      (33,283,242)      (33,183,960)
      Accumulated other comprehensive
       (loss) income                                    --          (507,793)
      Treasury stock                              (300,075)         (300,075)
        Total stockholders' equity              26,393,895        25,985,384
        Total liabilities and
         stockholder's equity                  $26,488,507       $26,046,691



                              CADUS CORPORATION
                 Condensed Consolidated Statements of Income

                                 (Unaudited)

                                                     Three Months Ended
                                                        September 30,
                                                    2007            2006


    License and maintenance fees                        $-              $-

        Total revenues                                   -               -

    Costs and expenses:
      General and administrative expenses          103,816         122,383
      (Income) from equity in other ventures        (3,919)         (3,300)

        Total costs and expenses                    99,897         119,083

    Operating loss                                 (99,897)        119,083)
    Other income:

      Interest income                              340,124         319,418

    Income before income taxes                     240,227         200,335
    Income taxes                                         -               -
      Net income                                  $240,227        $200,335
    Basic and diluted income per
     weighted average share of common
     stock outstanding                               $0.02           $0.02
    Weighted average shares of common
     stock outstanding - basic and
     diluted                                    13,144,040      13,144,040



                              CADUS CORPORATION
               Condensed Consolidated Statements of Operations

                                 (Unaudited)

                                                       Nine Months Ended
                                                         September 30,
                                                     2007             2006

    License and maintenance fees                   $100,000         $100,000

        Total revenues                              100,000          100,000

    Costs and expenses:
      General and administrative expenses           530,023          603,289
      (Income) from equity in other ventures         (9,989)          (8,668)

        Total costs and expenses                    520,034          594,621

    Operating loss                                 (420,034)        (494,621)
    Other income:
      Interest income                               989,766          871,154
      Loss on sale of marketable securities        (668,246)               -
    (Loss) income before income taxes               (98,514)         376,533
    Provision for income taxes                          768                -
        Net (loss) income                          ($99,282)        $376,533
    Basic and diluted (loss) income per
     weighted average share of common
     stock outstanding                               ($0.01)           $0.03
    Weighted average shares of common
     stock outstanding - basic and
     diluted                                     13,144,040       13,144,040

SOURCE Cadus Corporation