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Pharmos Corporation Reports 2009 First Quarter Results
Date:5/12/2009

netration of its drug products, to the development and commercialization of its pipeline products and to its expectations in connection with any future event, condition, performance or other matter, are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause results to differ materially from those set forth in these statements. Additional economic, competitive, governmental, technological, marketing and other factors identified in Pharmos' filings with the Securities and Exchange Commission could affect such results.

(Tables attached)



    PHARMOS CORPORATION
    (Unaudited)
    Consolidated Statements of Operations
                                                     Three months ended
                                                         March 31,
                                          --------------------------------
                                               2009                2008
                                          ------------         -----------
    Expenses
        Research and development           $2,014,420            $2,778,234
        In-process research & development
         Vela milestone                     1,180,000                     -
        General and administrative            334,749               796,924
        Depreciation and amortization           2,126                34,552
                                          ------------         ------------
        Total operating expenses            3,531,295             3,609,710
                                          ------------         ------------
    Loss from operations                   (3,531,295)           (3,609,710)
                                          ------------         ------------
    Other (expense) income
    Interest income                             5,286               
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SOURCE Pharmos Corporation
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