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TorreyPines Therapeutics Reports Third Quarter 2007 Results
Date:11/14/2007

LA JOLLA, Calif., Nov. 14 /PRNewswire/ -- TorreyPines Therapeutics, Inc. (Nasdaq: TPTX) today announced financial results for the third quarter ended September 30, 2007. For the three-month period, the Company posted revenue of $2.5 million and a net loss of $6.8 million. Cash and cash equivalents totaled $39.7 million at September 30, 2007.

"Last quarter we continued to advance our three priority product candidates and most notably, after the quarter ended, we announced positive results from our Phase IIb clinical trial evaluating our lead compound, tezampanel, in acute migraine," said Neil Kurtz, M.D., President and Chief Executive Officer of TorreyPines. "We now have two migraine studies in which tezampanel demonstrated statistically significant improvement on the primary end point of pain response at two hours post-dose compared to placebo. These Phase IIb results further establish the efficacy and safety of tezampanel and we are pleased to be advancing tezampanel into later-stage clinical development."

Highlights:

-- In October 2007, announced that tezampanel met the primary endpoint at

the 40 mg dose in a 306-patient, Phase IIb clinical trial for the

treatment of a single, acute migraine attack. Two other doses, 70 mg

and 100 mg, were evaluated and also demonstrated effects across a

number of pain measurements although neither dose reached statistical

significance on the primary endpoint. In this trial, tezampanel was

well-tolerated and there were no serious or medically important

adverse events reported.

-- Initiated a Phase I multiple-dose clinical trial of tezampanel to

evaluate the safety, tolerability
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SOURCE TorreyPines Therapeutics, Inc.
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