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Biodel Inc. Reports Second Quarter Fiscal Year 2008 Financial Results
Date:5/9/2008

shares outstanding.

Second Quarter Fiscal Year 2008 Corporate Highlights

-- The Company is continuing the clinical development of its lead product

candidate, VIAject(TM), an ultra rapid-acting injectable meal-time

insulin for use by patients with Type 1 or Type 2 diabetes.

VIAject(TM) is currently being tested in two pivotal Phase III clinical

trials. Enrollment for both Phase III studies was completed in

December 2007 and the last patient visit is expected in July 2008. The

Company expects to announce top line data late in the third or early in

the fourth calendar quarter of 2008 and to submit a New Drug

Application to the FDA for the complete suite of VIAject(TM) products

by the end of 2008.

-- On February 12, 2008, the Company completed a follow-on public offering

of 3,260,000 shares of its common stock at a price to the public of

$15.50 per share. The Company received net proceeds from this

offering, after deducting underwriting discounts and commissions and

expenses, of $46.8 million. The Company intends to use the net

proceeds that it received from this offering to fund the continued

development and commercialization of VIAject(TM), to develop its other

product candidates and for working capital, additional capital

expenditures and other general corporate purposes.

Conference Call and Webcast Information

Biodel's senior management will host a conference call on Friday, May 9, 2008 at 8:30 a.m., Eastern Time, to discuss these financial results and provide a company update. Live audio of the conference call will be available to investors, members of the news media and the general public by dialing 1-877-545-1488 (United States) or 1-719-325-4856 (international). To access the call by live webcast, please log on to the Investor section of Biodel's website at

SOURCE Biodel Inc.
Copyright©2008 PR Newswire.
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2. Biodel Inc. Announces VIAject(TM) Phase II Meal Study Data at the 2007 European Association for the Study of Diabetes Meeting
3. Biodel to Amend June 30, 2007 10-Q to Correct Non-Cash Share-Based Compensation Expense
4. Biodel Inc. to Present at BIO InvestorForum 2007 Conference on October 11, 2007
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