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

o update these forward- looking statements.

CONDENSED STATEMENTS OF OPERATIONS

(Unaudited - in thousands, except per share amounts)

Three months ended Nine months ended

March 31, March 31,

2008 2007 2008 2007

REVENUES

Technology sale and

collaboration services $1,523 $3,170 $5,002 $8,727

Royalty 2,161 1,708 6,245 4,952

Total revenues 3,684 4,878 11,247 13,679

EXPENSES

Research and development 5,945 7,690 18,822 19,230

General and

administrative 1,757 1,686 5,327 4,745

Total expenses 7,702 9,376 24,149 23,975

Operating loss (4,018) (4,498) (12,902) (10,296)

Interest income 540 84 1,020 353

Interest expense, including

non-cash amortization of

$2,336 discount on

notes for the nine months

ended March 31, 2008 - - (2,479) -

Non-cash gain on change

in fair value of warrants 193 - 3,271 -

Impairment charge for

decrease in value of

investments (1,778) - (1,778) -

NET LOSS $(5,063) $(4,414) $(12,868) $(9,943)

BASIC AND DILUTED

NET LOSS PER SHARE $(0.19) $(1.04) $(0.76) $(2.35)

Shares used in basic and

diluted net loss per

share calculation 26,913 4,238 16,963 4,228

SELECTED BALANCE SHEET DATA

(in thousands)


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SOURCE Neurobiological Technologies, Inc.
Copyright©2008 PR Newswire.
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