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Transcept Pharmaceuticals Reports Fourth Quarter and Year End 2008 Financial Results
Date:3/23/2009

irst quarter of 2009, Transcept paid financial advisory fees incurred in connection with the merger of $2.0 million and retired in full all remaining debt owed to Hercules Technology Growth Capital for $2.7 million.

2009 Guidance

Transcept expects full year 2009 research and development expenses to remain consistent with 2008 levels until such time as the Company initiates development of pipeline product candidates or any post approval clinical development activities of Intermezzo(R).

Full year 2009 general and administrative expenses are expected to increase as compared to 2008 as the Company increases its administrative infrastructure to comply with the requirements of being a publicly traded company and prepares for the commercialization of Intermezzo(R). The timing and amount of such increase as it relates to commercialization expenses will be largely dependent upon Transcept efforts to secure a primary care marketing partner in the U.S., as well as the terms and timing of such an event. Transcept can make no assurances that its activities to identify and secure such a relationship will result in a completed collaboration.

Conference Call and Webcast Information

Transcept will hold a conference call and webcast to discuss the results and provide an update on the Company's progress towards stated performance goals today at 5:00 PM Eastern Time. Live audio of the conference call will be available to investors, members of the news media and the general public by dialing 877-795-3610 (USA) or 719-325-4764 (International). A playback of the call will be available through April 6, 2009 by dialing 888-203-1112 (USA) or 719-457-0820 (International), Replay Passcode: 7416010. To access the call by live webcast, please log on to the Investor Relations section of our website at www.transcept.com. An archived version of th
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SOURCE Transcept Pharmaceuticals, Inc.
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