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Memory Pharmaceuticals Reports Third Quarter 2008 Financial Results
Date:11/13/2008

e date of this press release.

MEMORY PHARMACEUTICALS CORP.

CONDENSED STATEMENTS OF OPERATIONS

(in thousands - except share and per share information)

(unaudited)

Three Months Ended Nine Months Ended

September 30, September 30,

2008 2007 2008 2007

Revenue $ 4,339 $ 5,026 $ 6,038 $ 10,444

Operating expenses:

Research and development 10,324 8,988 31,558 30,096

General and administrative 2,273 2,259 7,725 7,104

Total operating expenses 12,597 11,247 39,283 37,200

Loss from operations (8,258) (6,221) (33,245) (26,756)

Other (expense) income (159) - (130) -

Interest income (expense)

income, net (524) 39 (1,416) 1,030

Loss before income taxes (8,940) (6,182) (34,791) (25,726)

Income taxes - (3) - 3

Net loss $ (8,940)$ (6,179)$ (34,791) $ (25,729)

Basic and diluted net loss

per share of common stock $ (0.11)$ (0.09)$ (0.46) $ (0.36)

Basic and diluted weighted

average number of shares

of common stock

outstanding 79,373,261 72,610,018 75,076,961 71,617,983

MEMORY PHARMACEUTICALS CORP.

CONDENSED BALANCE SHEETS

(in thousands)

(unaudited)

September 30, December 31,

2008
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SOURCE Memory Pharmaceuticals Corp.
Copyright©2008 PR Newswire.
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