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Pharmos Corporation Reports 2011 Second Quarter Results
Date:8/8/2011

a focus on CB2 receptor-selective agonists. Various CB2-selective compounds from Pharmos's pipeline have been the subject of completed preclinical studies targeting pain, multiple sclerosis, rheumatoid arthritis, inflammatory bowel disease, and other disorders.  These are available for licensing/partnering.

Safe Harbor StatementStatements made in this press release related to the business outlook and future financial performance of Pharmos, to the prospective market penetration of its drug products, to the development and commercialization of its pipeline products and to its expectations in connection with any future event, condition, performance or other matter, are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995.  Such statements involve risks and uncertainties that may cause results to differ materially from those set forth in these statements. Additional economic, competitive, governmental, technological, marketing and other factors identified in Pharmos' filings with the Securities and Exchange Commission could affect such results.

www.pharmoscorp.comPHARMOS CORPORATIONCondensed Consolidated Statements of Operations(Unaudited)Three months endedJune 30,Six months endedJune 30,2011201020112010ExpensesResearch and development

$  214,470$  103,362$  496,254$  226,358General and administrative

259,415300,492553,760639,806Depreciation and amortization

6711851,297650Total operating expenses474,556404,0391,051,311866,814Loss from operations(474,556)(404,039)(1,051,311)(866,814)Other (expense) income Interest income

60342156629Interest expense

(25,937)(27,929)(52,406)(56,303)Other income (expense)

-(353)-(869)Other expense(25,877)(27,940)(52,250)(56,543)Net loss$   (500,433)$   (431,979)$ (1,103,561)$  (923,357)Net loss per share- basic and di
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