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Nephros Reports 2008 Fourth Quarter and Full Year Financial Results
Date:3/31/2009

of 2007 to 38,165,380 in the comparable period of 2008.

End-Stage Renal Disease (ESRD) Products

Nephros completed the patient treatment phase of the U.S. clinical trial evaluation of the OLpur(TM) H2H(TM) module and OLpur MD 220 filter during the second quarter of 2008. The Company submitted the clinical data to the FDA with the 510(k) application for U.S. marketing approval of these products in November 2008. Following its review of the application, the FDA has requested additional information from us. Nephros replied to the FDA inquiries on March 13, 2009. Per FDA guidelines, the FDA has 90 days to review the additional information provided by the Company. Nephros believes that, if approved, its technology would be the first FDA-approved on-line HDF therapy available in the U.S.

Water Ultrafiltration Products

On October 7, 2008, Nephros filed a 510(k) application for approval to market DSU filters to dialysis clinics for in-line purification of dialysate water. Following its review of the application, the FDA has requested additional information from us. On February 24, 2009, we provided a formal response to the FDA. Per FDA guidelines, the FDA has 90 days to review the additional information provided by us.

Nephros is investigating a range of commercial, industrial and retail opportunities for its DSU technology. The Company has completed an in-hospital study to demonstrate the efficacy of the DSU and will seek to publish this study in a relevant publication of substantial distribution.

Military Product Development

Nephros has contracted with the Office of Naval Research to develop an advanced water purification system for military field use. Nephros' proprietary dual stage cold sterilization ultrafilter will form the basis of the portable system. Nephros is continuing the development of its dual stage ultra re
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SOURCE Nephros, Inc.
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