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

$4,878 $5,305 Long-term debt, net of current portion - 2,112 Total liabilities 4,878 7,417 Total stockholders' equity 1,831 3,713 Total liabilities and stockholders' equity $6,709 $11,130

                          TorreyPines Therapeutics, Inc.
                Condensed Consolidated Statements of Operations

                   (in thousands, except per share amounts)
                                (Unaudited)

                                                     Three months ended
                                                          March 31,
                                                      2009         2008

    Revenue                                             $-       $2,046

    Operating expenses:
      Research and development                         855        5,260
      General and administrative                     1,268        1,448
    Total operating expenses                         2,123        6,708

    Loss from operations                            (2,123)      (4,662)

    Other income (expense)
      Interest income                                    8          217
      Interest expense                                 (45)        (147)
      Other income (expense), net                       40          699
    Total other income                                   3          769

    Net loss                                       $(2,120)     $(3,893)

    Basic and diluted net loss per share            $(0.13)      $(0.25)

    Weighted average shares used in the
     computation of basic and diluted net
     loss per share                             15,974,058   15,739,646

    Company Contact:
    Craig Johnson
    TorreyPines Therapeutics, Inc.
    858-623-5665, x158
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SOURCE TorreyPines Therapeutics, Inc.
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