Date:3/23/2009

on preference of $23,091,863 as of December 31, 2008), net of issuance costs of $141,166 22,950,697 22,950,697 Series D convertible preferred stock, $0.001 par value; 24,029,412 shares authorized; 23,529,410 shares issued and outstanding at December 31, 2008 and 2007, (aggregate liquidation preference of $39,999,997 as of December 31, 2008), net of issuance costs of $165,027 39,834,970 39,834,970 Stockholders' equity (net capital deficiency): Common stock, $0.001 par value; 66,000,000 shares authorized; 3,216,900 and 2,518,545 shares issued and outstanding at December 31, 2008 and 2007, respectively 3,217 2,519 Additional paid-in capital 1,501,079 748,945 Deficit accumulated during the development stage (65,111,433) (45,152,058) Accumulated other comprehensive income 25,825 85,062 ------ ------ Total stockholders' equity (net capital deficiency) (63,581,312) (44,315,532) ----------- ----------- Total liabilities, convertible preferred stock and stockholders' equity (net capital deficiency) $13,780,514 $37,768,721 =========== ===========

    Contacts:

    Transcept Pharmaceuticals, Inc.
    Michael Gill
    Director of Communications
    (510) 215-3575
    mgill@transcept.com

    The Ruth Group
    Investors/Media
    Stephanie Carrington/ Jason Rando
    (646) 536-7017/ 7015
    '/>"/>
SOURCE  Transcept Pharmaceuticals, Inc.
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