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TorreyPines Therapeutics Reports Third Quarter 2007 Results
Date:11/14/2007

e to research and development. This compares to operating expenses of $19.6 million and research and development expenses of $17.6 million for the same nine month period last year. The Company reported a net loss for the nine months ended September 30, 2007 of $15.2 million compared to a net loss of $12.2 million for the same period last year.

TorreyPines merged with Axonyx Inc. on October 3, 2006. The Company's financial statements reflect the historical results of TorreyPines prior to the merger and that of the combined company following the merger, and do not include the historical results of Axonyx Inc. prior to the completion of the merger.

About TorreyPines Therapeutics, Inc.

TorreyPines Therapeutics, Inc. is a clinical stage biopharmaceutical company committed to the discovery, development and commercialization of novel small molecules to treat diseases and disorders of the central nervous system (CNS). Led by an accomplished management team, TorreyPines is leveraging novel drug targets and technologies to potentially deliver new CNS therapies for chronic pain, including migraine and neuropathic pain; and cognitive disorders, including cognitive impairment associated with schizophrenia and Alzheimer's disease. Further information is available at http://www.torreypinestherapeutics.com.

This press release contains forward-looking statements or predictions. Such forward-looking statements include, but are not limited to, statements regarding the potential for tezampanel as a treatment for migraine, the potential timing, development and initiation of Phase III clinical trials of tezampanel, the potential for NGX267 to treat the symptoms of cognitive impairment associated with schizophrenia and the potential for NGX267 to treat dry mouth, or xerostomia. Such statements are subject to numerous known and unknown risks, uncertainties and other factors, which may cause TorreyPin
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SOURCE TorreyPines Therapeutics, Inc.
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