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Neurobiological Technologies Reports Third Quarter Financial Results
Date:5/12/2008

of its auction rate securities, which are now classified as long-term investments, by approximately $1.8 million based on uncertainties in the credit markets.

"We are very pleased to have recently and successfully passed our fifth Data Safety Monitoring Board assessment of the Viprinex(TM) phase 3 clinical trials that are currently underway," stated Paul E. Freiman, president and chief executive officer of NTI. "In addition, during the quarter we signed an agreement with the Buck Institute for Age Research that provides us development rights to an exciting compound in early development for the potential treatment of Alzheimer's disease. We also amended our agreement with Merz Pharmaceuticals and Children's Medical Center Corporation, effectively lengthening the term for which they are committed to pay us royalties on the sales of memantine, although at a lower rate than we received previously."

"Looking forward, we are excited about the prospects for our key asset, Viprinex, which has the potential to be the first new drug approved for the treatment of stroke in over ten years," continued Mr. Freiman. "Our main focus as a company is the development of this drug candidate, and the development of this asset is where substantially all of our operating funds are being spent. We believe Viprinex has the potential to double the treatment window over the current approved drug, while at the same time reducing the major side effect of symptomatic intracranial hemorrhage."

Conference Call Information

NTI will webcast its quarterly financial results and host a conference call on Tuesday, May 13, 2008 at 10:30 a.m. (ET), 7:30 a.m. (PT). Dial-in number (877) 591-4953 (U.S. and Canada) and 719-325-4851 (International). The live webcast can be accessed by going to http://investor.shareholder.com/ntii/events.cfm . A playback of the conference call will be available from 1:30 p.m
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SOURCE Neurobiological Technologies, Inc.
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Related biology technology :

1. Neurobiological Technologies Sets Date for Third Quarter Financial Results
2. Neurobiological Technologies Reports Receipt of $2.0 Million Royalty Payment for Quarterly Sales of Memantine
3. Neurobiological Technologies Appoints Matthew M. Loar as Chief Financial Officer
4. Neurobiological Technologies Announces Amendment of License and Cooperation Agreement with Merz Pharmaceuticals and Childrens Hospital
5. Neurobiological Technologies Reports $2.1 Million Quarterly Payment for Sales of Memantine
6. Neurobiological Technologies Sets Date for Research and Development Day
7. Neurobiological Technologies, Inc. (Nasdaq: NTII) Q2/08 Review Issued By Scimitar Equity Research, Inc.
8. Update: Neurobiological Technologies Sets Date for Second Quarter Financial Results and Conference Call
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10. Neurobiological Technologies, Inc. Reports Retirement of Ronald E. Cape, Ph.D., from Board
11. Neurobiological Technologies, Inc. (Nasdaq: NTII) Q1/08 Review Issued By Scimitar Equity Research, Inc.
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