Nile Therapeutics Reports 2007 Fourth Quarter and Full Year Financi...( BERKELEY Calif. March 13 /- Nile ...)

BERKELEY, Calif., March 13 /PRNewswire-FirstCall/ -- Nile Therapeutics, Inc. (OTC Bulletin Board: NILT), today announced its fourth quarter and full year financial results for 2007. Participants may access the archived webcast of the conference call from the investor relations section of Nile's website at http://www.nilethera.com. The webcast will remain available on the company's website until the next quarterly conference call.

For the fourth quarter of 2007, Nile reported a net operating loss of $2.7 million, or $0.11 per share. For the full year, net operating loss was $9.5 million, or $0.56 per share. Weighted average shares outstanding for the fourth quarter and for all of 2007 were 24.1 million and 16.9 million, respectively.

Nile reported no revenue during the fourth quarter and grant income of $0.1 million during 2007. For the fourth quarter and for all of 2007, Nile reported net interest income of $0.2 million and net interest expense of $0.8 million, respectively.

As of December 31, 2007, Nile had cash and cash equivalents of $16.2 million compared to $18.0 million at September 30, 2007. Cash and cash equivalents declined $1.8 million in the fourth quarter of 2007 from the third quarter of 2007 as cash was used for operations.

About Nile Therapeutics

Nile Therapeutics, Inc. is a clinical-stage biopharmaceutical company that develops innovative products for the treatment of cardiovascular disease and other areas of unmet medical need. Nile is initially focusing its efforts on developing its lead compound, CD-NP, a novel chimeric peptide in clinical studies for the treatment of heart failure, and 2NTX-99, a small molecule, pre-clinical, anti-atherothrombotic agent with nitric oxide donating properties. A key component of the company's strategy is to acquire the global rights to additional compounds to expand its portfolio. More information on Nile can be found at
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