EpiCept Corporation Reports Second Quarter 2007 Operating and Financial Results

EpiCept Corporation Reports Second Quarter 2007 Operating and Financial Results

Progress Continues With High Potential Oncology and Pain Management Programs in
Second Quarter 

    TARRYTOWN, N.Y., Aug. 14 /PRNewswire-FirstCall/ -- EpiCept Corporation
(Nasdaq and OMX Nordic Exchange:  EPCT) today announced operating and financial
results for the second quarter and six months ended June 30, 2007. For the
second quarter of 2007, EpiCept reported a net loss attributable to common
stockholders of $7.0 million, or $.22 per basic and diluted share, compared to
$7.3 million, or $.30 per basic and diluted share, for the first three months
ended June 30, 2006. For the six months ended June 30, 2007, EpiCept reported a
net loss attributable to common stockholders of $14.7 million, or $.45 per
basic and diluted share, compared to $63.9 million, or $2.76 per basic and
diluted share, for the six months ended June 30, 2006. On June 29, 2007,
EpiCept announced that it had entered into a definitive agreement with
institutional investors to raise $10.0 million in gross proceeds through the
sale of EpiCept common stock and warrants.  The financing closed in early July.
 EpiCept's estimated cash at the end of the second quarter was $9.7 million
after consideration of the proceeds of the financing less applicable fees and
expenses.  Shares outstanding as of June 30, 2007 amounted to 32,426,409.