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Neurobiological Technologies Reports Third Quarter Fiscal 2009 Financial Results
Date:5/8/2009

EMERYVILLE, Calif., May 8 /PRNewswire-FirstCall/ -- Neurobiological Technologies, Inc. (NTI(R)) (Nasdaq: NTII) today announced financial results for the three-month and nine-month periods ended March 31, 2009.

Revenues for the third quarter of fiscal 2009 were $3.0 million compared to $3.7 million for the third quarter of fiscal 2008. Research and development expenses were $1.9 million for the three months ended March 31, 2009 compared to $5.9 million for the three months ended March 31, 2008. The lower research and development expenses for the 2009 quarter were primarily due to the termination of the Viprinex(TM) program for stroke following the interim analysis in December 2008. General and administrative expenses were $1.4 million for the three months ended March 31, 2009 compared to $1.8 million for the three months ended March 31, 2008. During the third quarter of fiscal 2009, the Company terminated the employment of approximately 75% of its workforce, and the employee termination costs are included in the operating expenses for the 2009 period.

The net loss for the third quarter of fiscal 2009 was $0.4 million, or $0.02 per share, compared to a net loss of $5.1 million, or $0.19 per share, for the third quarter of fiscal 2008.

Revenues for the first nine months of fiscal 2009 were $10.1 million compared to revenues of $11.2 million for the same period of fiscal 2008. Research and development expenses were $17.7 million for the nine months ended March 31, 2009 compared to $18.8 million for the nine months ended March 31, 2008. General and administrative expenses were $4.0 million for the nine months ended March 31, 2009 compared to $5.3 million for the nine months ended March 31, 2008. The net loss for the nine months ended March 31, 2009 was $11.0 million, or $0.41 per share, compared to a net loss of $12.9
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SOURCE Neurobiological Technologies, Inc.
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