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TorreyPines Therapeutics Reports Fourth Quarter and Full Year 2007 Financial Results and Highlights
Date:3/26/2008

the quarter ended December 31, 2007, were $9.0 million, with $7.6 million attributable to research and development. This compares to operating expenses of $15.0 million and research and development expenses of $4.7 million for the same period last year. The Company reported a net loss for the quarter ended December 31, 2007, of $8.2 million, compared to a net loss of $13.1 million for the same period last year.

Revenue for the full year ended December 31, 2007, was $9.9 million compared to revenue of $9.9 million for the same period in 2006. Operating expenses for the 12-month period were $33.6 million, with $28.0 million attributable to research and development. This compares to operating expenses of $34.7 million and research and development expenses of $22.4 million for the same 12-month period last year. The Company reported a net loss for the year ended December 31, 2007, of $23.4 million compared to a net loss of $25.4 million for the same period last year.

For 2008, management has indicated that it is targeting a net cash burn in the range of $22.0 million to $24.0 million.

TorreyPines' complete fiscal 2007 annual report will be available on TorreyPines' Web site: http://www.torreypinestherapeutics.com. Go to the investor center then click on SEC filings.

About TorreyPines Therapeutics

TorreyPines Therapeutics, Inc. is a biopharmaceutical company committed to providing patients with better alternatives to existing therapies through the research, development and commercialization of small molecule compounds. The company's goal is to develop versatile product candidates each capable of treating a number of acute and chronic diseases and disorders such as migraine, chronic pain, muscle spasticity and rigidity, xerostomia and cognitive disorders. The company is currently developing four product candidates, two ionotropic glutamate receptor antagonists and two mu
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SOURCE TorreyPines Therapeutics, Inc.
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