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Mast Therapeutics Reports Fourth Quarter And Full Year 2012 Financial Results
Date:3/19/2013

nse, offset by a $0.9 million decrease in consulting fees and legal expenses.

Balance Sheet Highlights
As of December 31, 2012, the Company had cash, cash equivalents and short-term investments totaling $36.5 million. Stockholders' equity amounted to $41.8 million as of December 31, 2012.  The Company's contingent asset related to the consideration for the acquisition of SynthRx in April 2011 was settled in December 2012.  The Company recorded the fair value of the contingent asset as of the settlement date as an adjustment to equity and recognized as a transaction-related expense the increase in its fair value as of its settlement date relative to December 31, 2011.

About Mast Therapeutics
Mast Therapeutics, Inc. is a publicly traded biopharmaceutical company headquartered in San Diego, CA.  The Company is leveraging the MAST (Molecular Adhesion and Sealant Technology) platform, derived from over two decades of clinical, nonclinical and manufacturing experience with purified and non-purified poloxamers, to develop MST-188, its lead product candidate, for serious or life-threatening diseases with significant unmet needs.  MST-188 is a cytoprotective, hemorheologic, anti-inflammatory and anti-thrombotic agent that has potential utility in diseases or conditions characterized by microcirculatory insufficiency (endothelial dysfunction and/or impaired blood flow). 

The Company is recruiting subjects in EPIC, a pivotal phase 3 study of MST-188 in sickle cell disease.  The Company plans to initiate a phase 2 clinical study of MST-188 in acute limb ischemia, a complication of peripheral arterial disease, in late 2013 or early 2014.  More information can be found on the Company's web site at www.masttherapeutics.com.

Forward Looking Statements
Mast Therapeutics cautions you that statements included in this press release that are
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