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Nastech Announces Third Quarter 2007 Financial Results
Date:10/29/2007

ion in restricted cash at each date. The increase in our cash balance was driven by the January 2007 offering of common stock which raised net proceeds of approximately $40.9 million.

Recent Corporate Highlights

* Initiated a Phase 2 clinical trial for PYY(3-36) Nasal Spray for

obesity

* Initiated a Phase 2 clinical trial for Insulin Nasal Spray for diabetes

* Announced promotion of Henry "Rick" Costantino to Chief Scientific

Officer of Delivery

Conference Call and Webcast Information

Management will host a conference call to review our financial results for the period ended September 30, 2007 and recent business developments. The call is scheduled for today, October 29, 2007, at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time). To participate in the live conference call, U.S. residents should dial (866) 831-6243 and international callers should dial (617) 213- 8855. The access code for the live conference call is 60453924. To access the 24-hour telephone replay, U.S. residents should dial (888) 286-8010 and international callers should dial (617) 801-6888. The access code for the replay is 53042322.

Alternatively, log on to http://www.nastech.com to access a live webcast or the subsequent archive. Please connect to the Investor section of Nastech's website several minutes prior to the start of the live conference call to ensure adequate time for any software download that may be necessary.

About Nastech

Nastech is a biopharmaceutical company developing innovative products based on proprietary molecular biology-based drug delivery technologies. Nastech and our collaboration partners are developing products for multiple therapeutic areas including osteoporosis, obesity, diabetes, autism, respiratory diseases and inflammatory conditions. Additional information about Nastech is available at http://ww
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SOURCE Nastech Pharmaceutical Company Inc.
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