EXHIBIT 99.1

ATHEROGENICS, INC.

(Debtor-in-Possession)

BALANCE SHEET

November 30, 2008

(Unaudited)

Assets
Current assets:
Cash and cash equivalents	$    50,983,965
Prepaid expenses	829,726
Accounts receivable	51,332
Total current assets	51,865,023
Equipment and leasehold improvements, net of accumulated depreciation
and amortization	1,288,544
Total assets	$    53,153,567
Liabilities and Shareholders' Deficit
Current liabilities:
Accounts payable	$         125,900
Accrued compensation	260,607
Accrued and other liabilities	65,568
Total current liabilities not subject to compromise	452,075
Prepetition liabilities	306,666,622
Shareholders' deficit
Common stock	218,706,283
Warrants	598,361
Accumulated deficit	(473,269,774	)
Total shareholders' deficit	(253,965,130	)
Total liabilities and shareholders' deficit	$    53,153,567

ATHEROGENICS, INC.

(Debtor-in-Possession)

STATEMENT OF OPERATIONS

For the month ended November 30, 2008

(Unaudited)

Revenues	$                  —
Operating expenses (1):
Research and development	728,410
General and administrative	441,225
Total operating expenses	1,169,635
Operating loss	(1,169,635	)
Interest and other income	—
Interest expense	—
Net loss before reorganization items	(1,169,635	)
Reorganization items, net	(74,039	)
Net loss	$    (1,243,674	)
Net loss per share –
basic and diluted	$             (0.03	)
Weighted average shares
outstanding – basic and diluted	39,518,492

(1) Operating expenses include non-cash depreciation expense of $195,375.