Neurogen Corporation Announces Third Quarter 2007 Financial Results

BRANFORD, Conn.--(BUSINESS WIRE)--Neurogen Corporation (Nasdaq: NRGN), a drug discovery and development company, today announced financial results for the three and nine month periods ended September 30, 2007. Neurogen recognized a net loss for the third quarter of 2007 of $7.9 million, or $0.19 per share on 41.9 million weighted average shares outstanding. This compares to a net loss during the third quarter of 2006 of $10.9 million, or $0.31 per share on 34.6 million weighted average shares outstanding. The Company recognized a net loss for the nine months ended September 30, 2007 of $40.8 million, or $0.98 per share on 41.8 million weighted average shares outstanding, as compared to a net loss of $37.8 million, or $1.09 per share on 34.5 million weighted average shares outstanding for the comparable period of 2006.

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