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Neurobiological Technologies Reports Second Quarter Fiscal 2009 Financial Results
Date:2/12/2009

EMERYVILLE, Calif., Feb. 12 /PRNewswire-FirstCall/ -- Neurobiological Technologies, Inc. (NTI(R)) (Nasdaq: NTII) today announced financial results for the three-month and six-month periods ended December 31, 2008.

Revenues for the second quarter of fiscal 2009 were $3.5 million compared to $3.7 million for the second quarter of fiscal 2008. Research and development expenses were $10.4 million for the three months ended December 31, 2008 compared to $7.4 million for the three months ended December 31, 2007. General and administrative expenses were $1.2 million for the three months ended December 31, 2008 compared to $1.9 million for the three months ended December 31, 2007.

The net loss for the second quarter of fiscal 2009 was $7.8 million, or $0.29 per share, compared to a net loss of $6.9 million, or $0.36 per share, for the second quarter of fiscal 2008.

Revenues for the first six months of fiscal 2009 were $7.1 million compared to revenues of $7.6 million for the same period of fiscal 2008. Research and development expenses were $15.8 million for the six months ended December 31, 2008 compared to $12.9 million for the six months ended December 31, 2007. General and administrative expenses were $2.5 million for the six months ended December 31, 2008 compared to $3.6 million for the six months ended December 31, 2007. The net loss for the six months ended December 31, 2008 was $10.6 million, or $0.39 per share, compared to a net loss of $7.8 million, or $0.65 per share, for the six-months ended December 31, 2007.

Cash, cash equivalents and investments were $32.2 million at December 31, 2008. The cash and total investments balance included cash and equivalents of $6.9 million, short term investments of $16.4 million and auction-rate securities carried at an estimated fair value of $8.9 million
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SOURCE Neurobiological Technologies, Inc.
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