OASMIA: YEAR-END REPORT FOR THE PERIOD 1 MAY 2006 - 30 APRIL 2007

Year-end report in brief for the period 1 May 2006 - 30 April 2007

* The Group's net sales increased to TSEK 22 387 (853).

* Profit/loss after taxes amounted to TSEK -9 757 (-7,307).

* Earnings per share was negative.

* Operating income amounted to TSEK -9 402 (-6 912).

* Liquidity amounted to 274% (130%)

* Equity/assets ratio 91% (92%)

* Dividends per share are proposed at SEK 0. 


Significant events during the period

The human phase I/II study for Paclical has been finalized. The results show
that Paclical® gives less side-effects and can thus be given in higher doses
than corresponding products available on the market today. The results of the
study will be presented at the European Cancer Conference (ECCO 14) in
Barcelona in September 2007. The product is now entering phase III. 

The results of clinical studies for Paclical® Vet, Oasmia's first product
within animal health, were presented at the annual ESVONC conference in
Cambridge in March 2007. The results are very strong and indicate a great
potential for this product. Paclicalâ Vet is currently in clinical phase
III-studies, and has received much international interest. The goal is to
finalise on-going phase III studies and apply for registration within the EU in
the second half of 2007. Today there is no registered chemotherapy in
veterinary medicine. Oasmia has a great opportunity to be the first company in
the world to register a cytostatic product for the dog. 

Oasmia has proceeded into the final stage of negotiations with several
international pharmaceutical companies regarding licensing of Paclical® and
Paclical® Vett. Confirmation of the potential of the Oasmia product portfolio
received through positive study results during the period have greatly
contributed to the progress of these negotiations. 

Furthermore, Oasima has prepared another three products for entry into clinical
phase. These products are based on the same platform as Paclicalâ. All products
are protected by international patents that expire 2023 and onwards. The market
for these products corresponds together to 80 % of standard treatments of
cancer in the world. 

Oasmia has strengthened its organization in all areas. The number of employees
has increased by 10 during the period. The company plans further recruitment
during 2007, mostly within the division of clinical research but also within
R&D. 

The subsidiary Qdoxx Pharma has, due to delays in approval time for concerned
authorities, (12-14 months), has not reach the number of MA that was in plan.
Qdoxx Pharma is now developing according to plan. 

Oasmia has acquired 51% of the company GlucoGene Pharma AB during the period.
The purpose is to further develop substances for cancer treatment discovered by
GlucoGene and thereby strengthen Oasmia's oncology portfolio and the company's
long-term research. GlucoGene's research and development is focused on the use
of xylocides for cancer treatment. The company has projects in pre-clinical
phase, using substances that has potential for treatment of brain tumours. 

The company's development during the period has been positive, above all
regarding confirmations of the significance and potential of the product
portfolio. 

Oasmia has carried out all preparations to change list for the company share to
NGM Equity. The change is planned to the 14th of September 2007. From the 1st
of May 2007, Oasmia is using IFRS-standards for accounting as a part of these
preparations. 

Financing
The company's operations have been financed with funds from the company's
shareholders. 

Number of outstanding shares
The number of shares amounts to 31,851,310. 

Investments
During the financial year, investments were made in development of the product
Paclical (TSEK 14,484) and tangible fixed assets (TSEK 4,136). 


(For complete report see attached file)