Alseres Pharmaceuticals, Inc. Reports First Quarter 2008 Operational and Financi...(rms of the agreement remained the same. ...),Health

Financial Highlights of the First Quarter 2008

- Cash, cash equivalents and marketable securities at March 31, 2008

totaled $4.9 million as compared to $4.2 million at December 31, 2007.

Convertible notes payable totaled $28.1 million at March 31, 2008 as

compared to $23.3 million at December 31, 2007.

- Net loss attributable to common stockholders was $5.3 million, or $0.26

per share, for the first quarter of 2008, as compared to $4.1 million,

or $0.25 per share, in the first quarter of 2007.

- Research and development (R&D) expenses totaled $2.7 million in the

first quarter of 2008 as compared to $2.6 million in the first quarter

of 2007. The increase in R&D expenses was primarily due to higher

headcount and Cethrin clinical costs offset by lower costs in our

molecular imaging program.

- General and administrative (G&A) expenses totaled $2.2 million for the

first quarter of 2008 as compared to $1.6 million in the first quarter

of 2007. The increase in G&A expenses was primarily related to higher

headcount, higher patent and related costs and higher commercialization

and communication costs.

Alseres Pharmaceuticals Upcoming Milestones

- We intend to move forward with our previously announced plans for the

Cethrin Phase IIb trial in acute spinal cord injury in the second half

of 2008. The Company is currently identifying appropriate sites and

investigators for the study. The trial will be a double-blind,

randomized, placebo-controlled, multi-center, Phase IIb trial in up to

100 subjects with acute cervical SCI conducted at up to 80 sites in the

United States, Canada, Europe and other selected countries.

- We will continue enrollment in the first part of the POET-2 Phase III

clinical trial fo
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