Nasdaq Panel Grants EpiCept's Request for Continued Listing

Nasdaq Panel Grants EpiCept's Request for Continued Listing 

TARRYTOWN, N.Y.--(BUSINESS WIRE)--EpiCept Corporation (Nasdaq and OMX Nordic
Exchange: EPCT) today announced that a Nasdaq Hearings Panel has granted the
Company's request for continued listing on The Nasdaq Stock Market. The
Company's continued listing is subject to the Company's satisfaction of the
condition that on or before February 1, 2010, the Company evidence a closing bid
price of at least $1.00 per share for a minimum of ten prior consecutive trading
days (or, under certain circumstances, such longer period as the Panel may
determine). 

As previously announced, on August 3, 2009, EpiCept received notice from Nasdaq
that it had not regained compliance with the minimum bid price requirement and
that the Company's securities were subject to delisting unless it requested a
hearing before a Nasdaq Hearings Panel. The Company requested a hearing and
appeared before the Panel on September 23, 2009. On November 2, 2009, the Panel
rendered its determination to continue the Company's listing. 

The Company expects to timely comply with the terms of the Panel's decision;
however, there can be no assurance that the Company will be able to do so. 

About EpiCept Corporation 

EpiCept is focused on the development and commercialization of pharmaceutical
products for the treatment of cancer and pain. The Company's lead product is
Ceplene®, which has been granted full marketing authorization by the European
Commission for the remission maintenance and prevention of relapse in adult
patients with AML in first remission. The Company has two oncology drug
candidates currently in clinical development that were discovered using in-house
technology and have been shown to act as vascular disruption agents in a variety
of solid tumors. The Company's pain portfolio includes EpiCept™ NP-1, a
prescription topical analgesic cream in late-stage clinical development designed
to provide effective long-term relief of pain associated with peripheral
neuropathies. 

Forward-Looking Statements 

This news release and any oral statements made with respect to the information
contained in this news release, contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include statements which express plans, anticipation,
intent, contingency, goals, targets, future development and are otherwise not
statements of historical fact. These statements are based on our current
expectations and are subject to risks and uncertainties that could cause actual
results or developments to be materially different from historical results or
from any future results expressed or implied by such forward-looking statements.
Factors that may cause actual results or developments to differ materially
include: the risk that our securities may be delisted by The Nasdaq Capital
Market and that any appeal of the delisting determination may not be successful,
the risk that Ceplene® will not receive regulatory approval or marketing
authorization in the United States or Canada, the risk that Ceplene® will not be
launched or achieve significant commercial success, the risk that we are unable
to find a suitable marketing partner for Ceplene® on attractive terms, a timely
basis or at all, the risk that any required post-approval clinical study for
Ceplene® will not be successful, the risk that we will not be able to maintain
our final regulatory approval or marketing authorization for Ceplene®, the risks
associated with the adequacy of our existing cash resources and our ability to
continue as a going concern, the risks associated with our ability to continue
to meet our obligations under our existing debt agreements, the risk that
Myriad's development of Azixa™ will not be successful, the risk that Azixa™ will
not receive regulatory approval or achieve significant commercial success, the
risk that we will not receive any significant payments under our agreement with
Myriad, the risk that the development of our other apoptosis product candidates
will not be successful, the risk that we will not be able to find a buyer for
our ASAP technology, the risk that clinical trials for EpiCeptTM NP-1 or
crinobulin will not be successful, the risk that EpiCept™ NP-1 or crinobulin
will not receive regulatory approval or achieve significant commercial success,
the risk that we will not be able to find a partner to help conduct the Phase
III trials for EpiCept™ NP-1 on attractive terms, a timely basis or at all, the
risk that our other product candidates that appeared promising in early research
and clinical trials do not demonstrate safety and/or efficacy in larger-scale or
later stage clinical trials, the risk that we will not obtain approval to market
any of our product candidates, the risks associated with dependence upon key
personnel, the risks associated with reliance on collaborative partners and
others for further clinical trials, development, manufacturing and
commercialization of our product candidates; the cost, delays and uncertainties
associated with our scientific research, product development, clinical trials
and regulatory approval process; our history of operating losses since our
inception; the highly competitive nature of our business; risks associated with
litigation; and risks associated with our ability to protect our intellectual
property. These factors and other material risks are more fully discussed in our
periodic reports, including our reports on Forms 8-K, 10-Q and 10-K and other
filings with the U.S. Securities and Exchange Commission. You are urged to
carefully review and consider the disclosures found in our filings which are
available at www.sec.gov or at www.epicept.com. You are cautioned not to place
undue reliance on any forward-looking statements, any of which could turn out to
be wrong due to inaccurate assumptions, unknown risks or uncertainties or other
risk factors. 

EPCT-GEN 

*Azixa is a registered trademark of Myriad Genetics, Inc.

EpiCept Corporation:
Robert W. Cook, 914-606-3500
mail@epicept.com
or
Media:
Feinstein Kean Healthcare
Greg Kelley, 617-577-8110
gregory.kelley@fkhealth.com
or
Investors:
Lippert/Heilshorn & Associates
Kim Sutton Golodetz, 212-838-3777
kgolodetz@lhai.com
or
Bruce Voss, 310-691-7100
bvoss@lhai.com