Transcept Pharmaceuticals Reports Fourth Quarter and Year End 2008 Financi...( Conference call scheduled at 5:00 PM ...),Health

Conference call scheduled at 5:00 PM Eastern Time today

Corporate Developments

- September 2008: Submitted the Intermezzo(R) new drug application (NDA) to the U.S. Food and Drug Administration (FDA)

- December 2008: FDA assigned a July 30, 2009 Prescription Drug User Fee Act (PDUFA) review date to the Intermezzo(R) NDA

- January 2009: Completed merger with Novacea, Inc. to create late-stage, publicly traded specialty pharmaceutical company with cash, cash equivalents and marketable securities at close estimated to be approximately $92 million

PT. RICHMOND, Calif., March 23 /PRNewswire-FirstCall/ -- Transcept Pharmaceuticals, Inc. (Nasdaq: TSPT), a specialty pharmaceutical company focused on the development and commercialization of proprietary products that address important therapeutic needs in neuroscience, today announced financial results for the quarter and year ended December 31, 2008.

Glenn A. Oclassen, President and Chief Executive Officer, commented, "We are pleased with the accomplishments the Transcept team achieved over the past year, in particular the January 30, 2009 merger with Novacea that has enhanced our capital position and provided Transcept with a public listing on NASDAQ. We believe our resources are now sufficient to enable Transcept to carry out its plans to commercialize Intermezzo(R), subject to FDA approval. Following the 2008 Intermezzo(R) NDA submission, the FDA assigned a July 30, 2009 PDUFA review date. If approved, Transcept believes that Intermezzo(R) will be the first prescription sleep aid approved for use in the middle of the night when patients awaken and have difficulty returning to sleep. We continue to focus on pre-commercialization activities, including ident
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