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Alseres Pharmaceuticals, Inc. Reports Third Quarter 2008 Operational and Financial Results
Date:11/13/2008

- The cash and cash equivalents available at September 30, 2008 and our ability to control certain costs, including those related to clinical trial programs, preclinical activities, and certain general and administrative expenses has enabled us to meet our anticipated cash expenditures into November 2008. We must immediately raise additional funds in November 2008 in order to continue operations.

Alseres Pharmaceuticals Upcoming Milestones

-- Enrollment in the first part of the POET-2 Phase III clinical trial for our Altropane molecular imaging agent is expected to be complete in early 2009. We are currently identifying appropriate sites and investigators for the Phase III, POET-2 registration trials which are planned to be initiated in mid-2009.

-- Twelve month interim data for the Phase I/IIa clinical trial of Cethrin will be presented at the Society for Neuroscience Meeting, November 15-19, 2008, in Washington, DC by Dr. Michael Fehlings, principal Investigator of the Cethrin Phase I/IIa trial.

-- We are pursuing development and commercialization partnerships for our molecular imaging and regenerative therapy assets. We expect to continue confidential discussions with franchise leaders interested in our molecular imaging and regenerative therapeutic pipelines. We expect to advance discussions toward partnerships and scientific collaborations over the remainder of the year.

Conference Call Access Information

The company will host a conference call to discuss results on November 14, 2008, at 9:00 a.m. Eastern Time. To access the conference call, please dial 877-718-5095 for domestic and 719-325-4818 for international calls. The code for this conference call is 3501954. Please dial in 5 to 10 minutes prior to the scheduled start time. A replay of the call will be posted on the Investor Relations section of our website, http://www.alseres.com, within 48 hours following the co
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SOURCE Alseres Pharmaceuticals, Inc.
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