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TorreyPines Therapeutics Reports First Quarter 2009 Financial Results
Date:5/1/2009

ease contains forward-looking statements or predictions. Such statements are subject to numerous known and unknown risks, uncertainties and other factors, which may cause TorreyPines' actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements. These and other risks which may cause results to differ are described in greater detail in the "Risk Factors" section of TorreyPines' annual report on Form 10-K for the year ended December 31, 2008 and TorreyPines other SEC reports. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are qualified in their entirety by this cautionary statement and TorreyPines undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.


                                  (Tables Follow)

                          TorreyPines Therapeutics, Inc.
                      Condensed Consolidated Balance Sheets

                                   (in thousands)

                                                      March 31,  December 31,
                                                        2009        2008
                                                     (Unaudited)
    Assets
    Current assets
      Cash and cash equivalents                        $6,319     $10,864
      Prepaid expenses and other current assets           379         187
      Total current assets                              6,698      11,051

    Long-term assets                                       11          79

    Total assets                                       $6,709     $11,130

    Liabilities and stockholders' equity
    Current liabilities                         
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SOURCE TorreyPines Therapeutics, Inc.
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