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

ber 31, 2008 2007 2008 2007 REVENUES Royalty $2,007 $2,103 $4,085 $4,084 Technology sale and collaboration services 1,484 1,560 2,971 3,479 Total revenues 3,491 3,663 7,056 7,563 EXPENSES Research and development 10,392 7,416 15,844 12,877 General and administrative 1,201 1,912 2,532 3,571 Total expenses 11,593 9,328 18,376 16,448 Operating loss (8,102) (5,665) (11,320) (8,885) Interest income 264 452 513 479 Gain on sale of long-term investment - - 170 - Interest expense, including non-cash amortization of $1,748 and $2,336 discount on notes for the three and six months ended December 31, 2007, respectively - (1,847) - (2,478) Non-cash gain on change in fair value of warrants - 177 37 3,079 NET LOSS $(7,838) $(6,883) $(10,600) $(7,805) BASIC AND DILUTED NET LOSS PER SHARE $(0.29) $(0.36) $(0.39) $(0.65) Shares used in basic and diluted net loss per share calculation 26,924 19,313 26,924 12,042




                           SELECTED BALANCE SHEET DATA
                                 (in thousands)

                                         December 31,  June 30,
                                            2008         2008
                                         (unaudited)   (Note 1)

      Cash and cash equivalents            $6,914       $27,941
      Short-term investments               16,400    
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SOURCE Neurobiological Technologies, Inc.
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