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

and classified as long-term investments. Total liabilities, excluding deferred revenue of $16.0 million, were $8.5 million at December 31, 2008.

About Neurobiological Technologies, Inc.

Neurobiological Technologies, Inc. is a biopharmaceutical company historically focused on developing novel, first-in-class agents for central nervous system conditions and other serious unmet medical needs. The company recently terminated development of its most advanced product candidate, Viprinex(TM) (ancrod), which was studied in Phase 3 clinical trials for evaluation as a new drug to treat acute ischemic stroke. NTI has an early-stage development program for Alzheimer's disease and rights to receive payments on an approved drug for Alzheimer's disease and an investigational drug which has recently completed a Phase 3 trial for brain swelling.

NOTE: Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including risks relating to our terminated clinical trials and our continuing contractual commitments, and levels of future operations and expenditures, as well as other risks detailed from time to time in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Actual results may differ materially from those projected. These forward-looking statements represent our judgment as of the date of the release and we undertake no obligation to update these forward-looking statements.




                         CONDENSED STATEMENTS OF OPERATIONS
               (Unaudited - in thousands, except per share amounts)


                                    Three months ended   Six months ended
                                        December 31,        Decem
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Related biology technology :

1. Neurobiological Technologies Reports Receipt of $1.5 Million Royalty Payment for Quarterly Sales of Memantine
2. Neurobiological Technologies Announces Suspension of Viprinex Development
3. Neurobiological Technologies Partner, Celtic Pharma, Provides Update on XERECEPT(R) Clinical Program and Planned Sale in 2009
4. Neurobiological Technologies, Inc. Reports First Quarter Fiscal Year 2009 Financial Results
5. Neurobiological Technologies to Present at the Rodman & Renshaw 10th Annual Healthcare Conference in New York on November 10
6. Neurobiological Technologies Sets Date for First Quarter Financial Results
7. Neurobiological Technologies Reports Receipt of $2 Million Royalty Payment for Quarterly Sales of Memantine
8. Neurobiological Technologies to Present at the BIO Investor Forum in San Francisco on October 30, 2008
9. Neurobiological Technologies Announces Update Call on Viprinex (TM) Phase 3 Trial Program
10. Neurobiological Technologies, Inc. (Nasdaq: NTII) Q4/08 Review Issued by Scimitar Equity, LLC
11. Neurobiological Technologies Announces Dates for 2008 Fiscal Year End Financial Results Conference Call and Presentation at MCF Investor Summit
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