Neurobiological Technologies Reports Third Quarter Financi... (

Neurobiological Technologies Reports Third Quarter Financial Results

Date:5/12/2008

- Conference Call at 10:30 a.m. ET, May 13 -

EMERYVILLE, Calif., May 12 /PRNewswire-FirstCall/ -- Neurobiological Technologies, Inc. (NTI(R)) (Nasdaq: NTII) today announced financial results for its fiscal third quarter and the nine months ended March 31, 2008.

Revenues for the three months ended March 31, 2008 were $3.7 million compared to $4.9 million for the same three months last year.

Research and development expenses were $5.9 million for the third quarter of 2008 compared to $7.7 million for the same quarter last year. General and administrative expenses were $1.8 million for the three months ended March 31, 2008 compared to $1.7 million in the same period last year.

The net loss for the third quarter of fiscal 2008 was $5.1 million, or $0.19 per share, compared with a net loss of $4.4 million, or $1.04 per share, for the third quarter of 2007.

Revenues for the first nine months of fiscal 2008 were $11.2 million compared to $13.7 million in the same period of 2007. Research and development expenses were $18.8 million for the nine months ended March 31, 2008 compared to $19.2 million for the same period of 2007. General and administrative expenses were $5.3 million for the nine months ended March 31 compared to expenses of $4.7 million for the same period in 2007. The net loss for the nine months ended March 31, 2008 was $12.9 million, or $0.76 per share, compared to a net loss of $9.9 million, or $2.35 per share, for the nine months ended March 31, 2007.

Cash, cash equivalents and short-term investments were $34.6 million at March 31, 2008, and long-term investments were $11.7 million, totaling $46.3 million. During the three months ended March 31, 2008, NTI wrote-down the value
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