TorreyPines Therapeutics Announces Management Change and Second Quarter 2008 Financi...(se I trialby the end of the year as well...),Health

Ms. Graham joined TorreyPines in 2004 as Vice President, Development. She was then promoted to Vice President, Corporate Development in 2005 and Chief Operating Officer in 2006. Prior to joining TorreyPines Ms. Graham was Executive Director, Development Operations at Purdue Pharma from 2000 to 2003. From 1998 to 2000, she was Senior Vice President of Business Development at Ingenix Pharmaceutical Services, a division of UHG, and served as Vice President of Clinical Operations at Worldwide Clinical Trials, prior to its acquisition by UHG. Previously, Ms. Graham held positions in operations management, healthcare utilization and organizational planning at Bayer Corporation and Wyeth Pharmaceuticals (formerly Ayerst Laboratories). Ms. Graham holds a B.A. in biology from the University of Delaware and an M.B.A. from the University of Connecticut.

Second Quarter 2008 Financial Results

The company also reported today its financial results for the second quarter ended June 30, 2008. For the three month period ended June 30, 2008 the company posted revenue of $1.2 million compared to revenue of $2.5 million for the same period in 2007. Operating expenses for the quarter ended June 30, 2008 were $7.2 million, with $5.5 million attributable to research and development. This compares to operating expenses of $8.5 million and research and development expenses of $7.1 million for the same period last year. The net loss for the quarter ended June 30, 2008 was $7.5 million compared to a net loss of $5.2 million for the same period last year. Cash and cash equivalents totaled $20.2 million at June 30, 2008.

Revenue for the six month period ended June 30, 2008 was $3.3 million compared to revenue of $4.9 million for the same period in 2007. Operating expenses for th
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