Neurogen Corporation Corporation Receives Notification from Nasdaq

BRANFORD, Conn.--(BUSINESS WIRE)--Neurogen Corporation (Nasdaq: NRGN), a drug development company focused on improved drugs for psychiatric and neurological disorders, announced today that on August 26, 2008, it received notice from The Nasdaq Stock Market indicating that for the past 30 business days Neurogen’s common stock has not met the $1.00 minimum closing bid price requirement for continued listing on the Nasdaq Global Market, as specified by the Marketplace Rule 4450(a)(5). The notification letter has no immediate effect on the listing of Neurogen's common stock on the Nasdaq Global Market. Neurogen's common stock will continue to trade on the Nasdaq Global Market under the symbol NRGN.

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