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This press release, and oral statements made with respect to
information contained in this press release, constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform
Act of 1995. Such forward-looking statements include those which express
plan, anticipation, intent, goal, contingency or future development and/or
otherwise are not statements of historical fact. These statements are based
upon management's current expectations and are subject to risks and
uncertainties, known and unknown, which could cause actual results and
developments to differ materially from those expressed or implied in such
statements. These forward- looking statements include, but are not limited
to, statements about the successful implementation of Pharmacopeia's
strategic plans, Pharmacopeia's plans to develop PS433540, a product
candidate from its DARA program, Pharmacopeia's Phase 2 and Phase 1
clinical studies with respect to PS433540, including timing and expected
outcomes of such studies, Pharmacopeia's plans to develop PS178990, a
product candidate from its SARM program, Pharmacopeia's Phase 1 clinical
studies with respect to PS178990, including timing and expected outcomes of
such studies, Pharmacopeia's estimates of the market opportunities for its
product candidates, including PS178990 and PS433540, Pharmacopeia's ability
to successfully perform under its collaborations with Bristol-Myers Squibb,
Cephalon, GlaxoSmithKline, Organon and Wyeth, Pharmacopeia's ability to
build its pipeline of novel drug candidates through its own
internally-funded drug discovery programs, third party collaborations and
in-licensing, Pharmacopeia's ability to raise additional capital,
Pharma
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