Reported figures are for the full reporting period unless otherwise stated.
Figures for the comparable reporting period last year is stated in parenthesis
after realized figures.

Exiqon A/S (NASDAQ OMX Copenhagen: “EXQ”) today announced full year results for
2011 in line with its guidance for the year. This comes on the back of a
profitable EBITDA in the fourth quarter of 2011:

Financial highlights Q4 (2011) FY (2011) Q4 (2010) FY (2010) 2011 Guidance
('DKK million)
--------------------------------------------------------------------------------
Revenue 30,126 111,458 27,805 93,510 ~110,000
--------------------------------------------------------------------------------
Total operating -10,617 -49,296 -12,406 -45,424
expenses
--------------------------------------------------------------------------------
Gross profit 19,509 62,162 15,399 48,086
--------------------------------------------------------------------------------
EBITDA excluding 1,873 -5,081 -6,035 -30,216 ~ 0
special items
--------------------------------------------------------------------------------
Special items 0 -14,200 0 0
--------------------------------------------------------------------------------
Net profit 825 -24,894 -8,854 -43,542
--------------------------------------------------------------------------------
EPS 0.02 -0.73 -0.28 -1.32
--------------------------------------------------------------------------------


-- Revenue increased 19% to DKK 111.5 million (DKK 93.5 million):
-- Organic growth in Life Sciences’ product sales was 36%.
-- Life Sciences’ product sales growth is primarily driven by Exqon’s
proprietary miRCURY LNA™ Universal RT PCR platform for academic and
clinical microRNA research.
-- Gross profit increased 29% to DKK 62.2 million (DKK 48.1 million):
-- Exiqon Life Sciences’ gross margin was realized at 51.4% compared to
46.6% in 2010 driven by higher volumes in product sales and lower
services revenue in line with strategy.
-- Total operating costs decreased 13% to DKK 76.4 million (DKK 88.3
million) excluding special items
-- Operational highlights in the fourth quarter of 2011:
-- On October 10, 2011 Exiqon launched a series of LNA™ products for
research in and development of RNA targeted medicine including LNA™ as
the active pharmaceutical ingredient after having completed litigation
against Santaris Pharma a/s on October 7, 2011;
-- On October 27, 2011 Exiqon announced data at the 2011 EORTC-NCI-ASCO
meeting in Brussels providing initial validation of the company’s blood
plasma-based miRNA PCR test for early detection of colorectal cancer and
associated quality control criteria for the multicenter blood samples
used to develop the test.

-- Expectations for 2012:
-- Following a positive EBITDA in the fourth quarter of 2011 and having
achieved its full year guidance for 2011, Exiqon is now on the way to
profitability.
-- In 2012, Exiqon expects a positive EBIT and positive cash flow from
operating activities driven by continued strong growth in research
product sales of around 25% (excluding OEM).
-- Total revenue is expected around DKK 130 million.

In a comment, CEO Lars Kongsbak said: ”Since our listing in 2007, we have been
on an journey to reach profitability. In 2011, we saw continued improvement of
all key financial figures and we reached the important milestone of break even
and profitability in the fourth quarter. The goal for 2012 is a positive EBIT,
driven by a continued strong growth in our core business of life science
product sales.”

CEO Lars Kongsbak continued:

“Exiqon Life Sciences is broadly recognized for its superior products for
microRNA analysis. In 2012, we plan to expand this business by introducing a
comprehensive portfolio of new products for messengerRNA analysis. 2011 was
also a successful year for our Diagnostics business and in 2012, we expect to
deliver our first validated biomarker profile for early detection of colorectal
cancer.“

Please see the enclosed PDF for the full Annual Report 2011.

Additional information

Lars Kongsbak, CEO, tel. +45 4566 0888 (cell: +45 4090 2101)
Hans Henrik Chrois Christensen, CFO, tel. +45 4566 0888 (cell: +45 4090 2131)

See the full release and the annual report in the attached PDF files or at
www.exiqon.com/investor.