TorreyPines Therapeutics Announces Management Change and Second Quarter 2008 Financi...(be approved by the regulatory authoritie...),Health

Date:8/8/2008

be approved by the regulatory authorities, or if approved, will prove competitive in the market; or whether the necessary financing to support the company's product development programs will be available. In particular there is no guarantee that clinical trials of any of the company's product candidates will be completed on schedule or that results of these clinical trials will be reported within the anticipated timeframe, that tezampanel or NGX426 will successfully treat migraine and/or other indications for which they are developed, that the End of Phase II meeting will be held in the anticipated time frame, that NGX267 will successfully treat xerostomia secondary to Sjogren's syndrome or that TorreyPines will be able to complete the necessary development work and receive regulatory approval for tezampanel, NGX426 or NGX267. These and other risks which may cause results to differ are described in greater detail in the "Risk Factors" section of TorreyPines' annual report on Form 10-K for the year ended December 31, 2007 and TorreyPines other SEC reports. The forward-looking statements are based on current information that is likely to change and speak only as of the date hereof.

Company Contact: Media Contact:

Craig Johnson David Schull

TorreyPines Therapeutics, Inc. Russo Partners, LLC

858-623-5665, x158 212-845-4271

cjohnson@torreypinestherapeutics.com david.schull@russopartners.com

Investor Contact:

Rhonda Chiger

Rx Communications

917-322-2569

rchiger@RxIR.com

(Tables Follow)

TorreyPines Therapeutics, Inc.

Condensed Consolidated Balance Sheets

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SOURCE TorreyPines Therapeutics, Inc. Copyright©2008 PR Newswire. All rights reserved

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