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

. (ET) on May 13, 2008 through midnight on May 17, 2008. Replay number: (888) 203-1112 (U.S. and Canada) / (719) 457-0820 (international). Replay access code: 3838724.

About Neurobiological Technologies, Inc.

Neurobiological Technologies is a biopharmaceutical company focused on developing novel, first-in-class agents for central nervous system conditions and other serious unmet medical needs. The Company's most advanced product candidate, Viprinex(TM) (ancrod), is in Phase 3 clinical testing as a novel investigational drug with multiple mechanisms of action that is specifically designed to double the time period that patients can be treated after the onset of a stroke. NTI also has the right to receive royalty payments from sales of Namenda(R) (memantine HCL), an approved drug marketed for Alzheimer's disease, and the right to receive payments from the development and marketing of XERECEPT(R) (corticorelin acetate injection), an investigational drug in Phase 3 clinical development for swelling associated with brain tumors. Additionally, NTI has rights to two compounds in early-stage development for Alzheimer's and Huntington's diseases.

Forward-Looking Statements

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including uncertainties regarding the timing for completion of clinical trials, obtaining approval for Viprinex, our levels of future expenditures and capital resources and our need to raise additional capital to fund our operations, as well as other risks detailed from time to time in our Annual Report of Form 10-K, and updated periodically in our Quarterly Reports on Form 10-Q, and other filings with the Securities and Exchange Commission. Actual results may differ materially from those projected. These forward-looking statements represent our judgment as of the date of the release. We undertake no obligation t
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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
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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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