MAP Pharmaceuticals Reports 2007 Fourth Quarter and Year End Financi... ( MAP0004 demonstrated pain relief ...)

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MAP Pharmaceuticals Reports 2007 Fourth Quarter and Year End Financial Results

Date:2/28/2008

MAP0004 demonstrated pain relief in 32% of patients at ten minutes,

pain relief in 72% of patients at two hours, and sustained pain relief

in 43% of patients at 24 hours in a treatment received population.

The trial also showed clinically significant trends in the resolution

of phonophobia, photophobia and nausea at certain time points.

MAP0004 was shown in the trial to be well tolerated and no serious

adverse events were reported.

-- Conducted end of Phase 2 meetings with the U.S. Food and Drug

Administration for UDB and MAP0004 in preparation for the initiation

of Phase 3 clinical programs.

-- Initiated a Phase 2a clinical trial of MAP0005 for the potential

treatment of asthma and chronic obstructive pulmonary disease.

MAP0005 combines a corticosteroid and a long-acting beta-agonist

within a single particle, and is administered via the company's

proprietary Tempo(TM) inhaler.

-- Added experienced pharmaceutical industry executives to its management

team and board of directors. Charlene A. Friedman was appointed Vice

President, General Counsel and Secretary, and Shashidar Kori, M.D. was

appointed Vice President of Clinical Development. Also, Bernard J.

Kelley, former President, Merck Manufacturing Division, Merck & Co.,

Inc., was appointed to the board of directors.

-- Completed its initial public offering and a Series D equity financing,

raising combined gross proceeds of approximately $119 million to

further support research and development.

"In 2007, positive results in two Phase 2 programs allowed us to focus our resources on planning for the advancement of our pediatric asthma and migraine drug candidates into late-stage clinical trials," said Timothy S. Nelson, President and Chief Executive Officer of MAP Pharmaceuticals.
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