Neurobiological Technologies Reports Second Quarter Financi...( - Conference Call...),Health

- Conference Call at 10:30 a.m. ET -

EMERYVILLE, Calif., Feb. 11 /PRNewswire-FirstCall/ -- Neurobiological Technologies, Inc. (NTI(R)) (Nasdaq: NTII) today announced financial results for its fiscal second quarter and the six-months ended Dec. 31, 2007.

Revenues for the second quarter of 2007 were $3.7 million compared to $4.0 million in the same quarter last year. Research and development expenses were $7.4 million in the three months ended Dec. 31, 2007 versus $5.7 million in the same period last year.

General and administrative expenses were $1.9 million for the three months ended Dec. 31, 2007 versus $1.6 million in the same period last year.

Net loss for the second quarter ended Dec. 31, 2007 was $6.9 million, or $0.36 per share, compared with a net loss of $3.1 million, or $0.74 per share, for the second quarter of 2006.

Revenues for the first six months of fiscal 2007 were $7.6 million versus $8.8 million in the same period of 2006. Research and development expenses were $12.9 million in the six months ended Dec. 31, 2007 versus $11.5 million in the same period of 2006. General and administrative expenses were $3.6 million for the six months ended Dec. 31 compared to expenses of $3.1 million for the same period in 2006. Net loss for the six months ended Dec. 31, 2007 was $7.8 million, or $0.65 per share, compared to net loss of $5.5 million, or $1.31 per share, for the six-months ended Dec. 31, 2006.

Cash, cash equivalents and total investments were $52.8 million at December 31, 2007.

Paul Freiman, NTII president and chief executive officer stated, "During the quarter, we completed an offering underwritten by Merriman Curhan & Ford that raised $55 million of net proce
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