MAXIM PHARMACEUTICALS ANNOUNCES 2005 THIRD QUARTER FINANCIAL RESULTS

Maxim Pharmaceuticals, Inc. (Nasdaq:MAXM) (SSE:MAXM) today announced results for the quarter ended June 30, 2005, the third quarter of its fiscal year. The net loss applicable to common stock for the quarter totaled $5.5 million or $0.19 per share, compared to a net loss applicable to common stock of $11.7 million or $0.41 per share, for the prior-year quarter. The net loss applicable to common stock for the nine months ended June 30, 2005 totaled $21.8 million or $0.76 per share, compared to a net loss applicable to common stock of $30.5 million or $1.08 per share for the same period in the prior year.

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