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TorreyPines Therapeutics Reports First Quarter 2008 Financial Results and Accomplishments
Date:5/13/2008

, heart attack and other conditions

associated with increased platelet aggregation.

-- Received notification that an abstract describing the results from the

completed Phase IIb clinical trial of tezampanel for the treatment of

acute migraine was accepted for presentation at the 50th Annual

Scientific Meeting of the American Headache Society to be held in

Boston June 26-29, 2008.

Financial Results

Revenue for the three month period ended March 31, 2008, was $2.0 million, compared to revenue of $2.5 million for the same period in 2007. Operating expenses for the quarter ended March 31, 2008, were $6.7 million, with $5.3 million attributable to research and development. This compares to operating expenses of $6.6 million and research and development expenses of $5.2 million for the same period last year. The company reported a net loss for the quarter ended March 31, 2008, of $3.9 million compared to a net loss of $3.3 million for the previous year.

Conference Call/Webcast Information

TorreyPines will host a conference call and Webcast at 11 a.m. EDT today. The audio Webcast can be accessed at http://www.torreypinestherapeutics.com. To participate in this call, dial 719-325-4817 and enter the passcode 2644321. For a limited period following the call, a replay will be available beginning at 2 p.m. EDT. The replay can be accessed by calling 719-457-0820 and entering passcode 2644321.

About TorreyPines Therapeutics

TorreyPines Therapeutics, Inc. is a biopharmaceutical company committed to providing patients with better alternatives to existing therapies through the research, development and commercialization of small molecule compounds. The company's goal is to develop versatile product candidates each capable of treating a number of acute and chronic diseases and disorders such as migraine, chronic pain, muscle
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SOURCE TorreyPines Therapeutics, Inc.
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