TorreyPines Therapeutics Reports Fourth Quarter and Full Year 2007 Financial Results and ...(f acute migraine. -- Preclinical data...)

-- Preclinical data were published in the October 17, 2007, issue of the

Journal of Neuroscience demonstrating that tezampanel may be effective

in reversing or preventing muscle spasticity and rigidity of spinal

ischemia. TorreyPines plans to initiate a Phase II clinical trial of

tezampanel for the treatment of muscle spasticity and rigidity

secondary to spinal cord trauma during the second half of 2008. This

will be the company's first clinical trial of tezampanel in a non-pain

indication.

-- TorreyPines initiated a Phase I maximum tolerated dose trial evaluating

NGX426, the oral prodrug of tezampanel. Dosing up to 150 mg has been

completed, and the study will continue to dose until either the maximum

tolerated dose is reached or up to a maximum of 210 mg. This clinical

trial is expected to be completed in the first half of 2008.

TorreyPines reported pharmacokinetic data from this clinical trial

showing that the area under the curve (AUC), which represents the total

amount of drug absorbed by the body, of a single, 80 mg, oral dose of

NGX426 is comparable to the AUC of a single, 40 mg, subcutaneous dose

of tezampanel.

-- A multiple dose Phase I clinical trial evaluating NGX267 was completed,

marking the third Phase I trial that demonstrated NGX267 is safe and

well tolerated. This multiple dose trial confirmed data from a

previous study in which statistically significant increases in salivary

flow were detected. TorreyPines initiated a Phase II clinical trial in

xerostomia, or dry mouth, secondary to Sjogren's syndrome in

March 2008.

Financial Results

Revenue for the three-month period ended December 31, 2007, was $2.5 million, compared to revenue of $2.5 million for the same period in 2006. Operating expenses for
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