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Transcept Pharmaceuticals Reports First Quarter 2009 Financial Results
Date:5/13/2009

Contacts: Transcept Pharmaceuticals, Inc. The Ruth Group Michael Gill Investors / Media Director of Communications Stephanie Carrington / Jason Rando (510) 215-3575 (646) 536-7017 / 7025 mgill@transcept.com scarrington@theruthgroup.com jrando@theruthgroup.com

                                  FINANCIAL TABLES FOLLOW

    Transcept Pharmaceuticals, Inc.
    Statements of Operations
    (Unaudited)
                                                          Period From
                                Three Months Ended         Inception
                                     March 31,         (January 8, 2002)
                                  2009         2008    to March 31, 2009
    Operating expenses:
      Research and
       development            $2,221,884   $3,610,595        $45,549,285
      General and
       administrative          4,213,770    1,512,368         25,206,493
      Merger related
       transaction costs       2,223,860            -          4,190,623
    Total operating expenses   8,659,514    5,122,963         74,946,401
    Loss from operations      (8,659,514)  (5,122,963)       (74,946,401)
    Interest income               87,735      336,184          3,919,791
    Interest expense            (165,658)    (236,842)        (2,531,305)
    Other income (expense),
     net                         199,673      (48,715)           443,913
    Interest expense related to
     bridge loan warrants              -            -           (535,195)
    Net loss                  (8,537,764)  (5,072,336)       (73,649,197)
    Deemed dividend -
     Series C convertible
     preferred stockholders            -            -           (457,874)
    
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SOURCE Transcept Pharmaceuticals, Inc.
Copyright©2009 PR Newswire.
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