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DOV Pharmaceutical, Inc. Begins Trading on OTC Bulletin Board

SOMERSET, N.J., Aug. 28 /PRNewswire-FirstCall/ -- DOV Pharmaceutical, Inc. ("DOV" or the "Company") (OTC Bulletin Board and Pink Sheets: DOVP) announced today that its common stock is now being quoted on the OTC Bulletin Board. The Company understands that its common stock is also still being quoted on the Pink Sheets.

"We are pleased that shares of our common stock are now being quoted both on the OTC Bulletin Board and the Pink Sheets," said Barbara Duncan, Chief Executive Officer of DOV. "We believe this dual quotation on the OTC Bulletin Board and the Pink Sheets provides the Company with greater visibility in the investment community and offers our shareholders, both current and future, greater liquidity."

About DOV

DOV is a biopharmaceutical company focused on the discovery, acquisition and development of novel drug candidates for central nervous system disorders. The Company's product candidates address some of the largest pharmaceutical markets in the world including depression, pain and insomnia.

Cautionary Note

Statements in this press release that are not historical facts constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. You can also identify forward-looking statements by the following words: may, will, should, expect, intend, plan, anticipate, believe, estimate, predict, potential, continue or the negative of these terms or other comparable terminology. We caution you that forward-looking statements are inherently uncertain and are simply point-in-time estimates based on a combination of facts and factors currently known by us about which we cannot be certain or even relatively confident. Actual results or events will surely differ and may differ materially from our forward-looking statements as a result of many factors, some of which we may not be able to predict or may not be within our control. Such factors may also materially adversely affect our ability to achieve our objectives and to successfully develop and commercialize our product candidates, including our ability to:

-- raise substantial additional capital in order to fund operations;

-- obtain and maintain all necessary patents, licenses and other

intellectual property rights;

-- demonstrate the safety and efficacy of product candidates at each

stage of development;

-- meet our development schedule for our product candidates, including

with respect to clinical trial initiation, enrollment and completion;

-- meet applicable regulatory standards and receive required regulatory

approvals on our anticipated time schedule or at all;

-- meet or require our partners to meet obligations and achieve

milestones under our license and other agreements;

-- maintain collaborations as required with pharmaceutical partners;

-- seek and evaluate strategic alternatives, including with respect to

collaborations and partnerships for certain of our development

programs and compounds; and

-- produce drug candidates in commercial quantities at reasonable costs

and compete successfully against other products and companies.

You should also refer to the risks discussed in our filings with the Securities and Exchange Commission including those contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2006 that was filed on March 30, 2007 and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2007 that was filed on August 8, 2007. We qualify all our forward- looking statements by these cautionary statements. Readers should not place undue reliance on our forward-looking statements. We do not undertake any obligation and do not intend to update any forward-looking statement.

SOURCE DOV Pharmaceutical, Inc.
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