EpiCept Corporation Reports Third Quarter 2007 Operating and Financi...( Encouraging regulatory pr...),Health

Encouraging regulatory progress on Ceplene in Europe

TARRYTOWN, N.Y., Nov. 5 /PRNewswire-FirstCall/ -- EpiCept Corporation (Nasdaq: EPCT; OMX Nordic Exchange) today announced operating and financial results for the three and nine months ended September 30, 2007. For the third quarter of 2007 EpiCept reported a net loss attributable to common stockholders of $7.7 million, or $0.20 per basic and diluted share, compared with $5.5 million, or $0.22 per basic and diluted share, for the third quarter of 2006. For the nine months ended September 30, 2007, EpiCept reported a net loss attributable to common stockholders of $22.4 million, or $0.66 per basic and diluted share, compared with $69.4 million, or $2.94 per basic and diluted share, for the nine months ended September 30, 2006.

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As of September 30, 2007 EpiCept had cash and cash equivalents of $0.7 million. On October 10, 2007, the company announced the pricing of a public offering of its common stock and warrants that raised approximately $7.3 million in net proceeds.

"During the third quarter we continued our steady advancement towards the important value-driving milestones that we established for our company at the beginning of 2007," stated Jack Talley, President and Chief Executive Officer. "We were particularly pleased to have executed on several critical steps required for a recommendation regarding approvability of Ceplene from the CHMP and a final decision by the European Commission during the first half of 2008. We have received the Day 150 Assessment Report, we remain encouraged a
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