Biotech Values

[DewDiligence]

NUVO not the only bio crushed today—NEOL is off 70%. CC at 5pm ET.

http://biz.yahoo.com/bw/061211/20061211005654.html?.v=1

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NEOPHARM Announces Efficacy Results for Phase 3 PRECISE Trial

Monday December 11, 9:32 am ET

WAUKEGAN, Ill.--(BUSINESS WIRE)--NEOPHARM, Inc. (Nasdaq: NEOL ) today announced that the pivotal Phase 3 PRECISE trial evaluating cintredekin besudotox (IL13-PE38QQR) for the treatment of recurrent glioblastoma multiforme (GBM) did not meet the efficacy endpoint at 215 deaths, which was a statistically significant difference, or separation, in the overall survival curves versus Gliadel Wafer®.

"Topline data suggests that cintredekin besudotox, while comparable, was not statistically superior to Gliadel," said Guillermo A. Herrera, President and Chief Executive Officer of NEOPHARM. "We will continue to work with our Scientific Advisory Board and the FDA to determine the best path forward."

Median Survival CB = 36.4 weeks

Median Survival Gliadel = 35.3 weeks

Months CB (% Survival) Gliadel (% Survival)

------ --------------- --------------------

6 69.4 62.4

12 35.1 30.1

18 20.0 14.5

24 14.4 14.5

The NEOPHARM Board of Directors and Senior Management have created a task force to evaluate Company options moving forward, including advancement of the Company's NeoLipid products.

"I want to extend my thanks to the patients and their loved ones, along with the investigators and personnel at study sites, and NEOPHARM employees for their effort in conducting this important trial," added Mr. Herrera.

Conference Call

NEOPHARM will host a conference call to discuss the trial results:

December 11, 2006 at 5 p.m. eastern time; 2:00 p.m. pacific time

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Domestic: 866-831-6162 , passcode 52256025

International: 617-213-8852 , passcode 52256025

Audio replays will be available through December 22, 2006.

Domestic: 888-286-8010 , passcode 88265219

International: 617-801-6888 , passcode 88265219

The live call and replay will also be available via Web cast at www.neopharm.com.

About NEOPHARM, Inc.

NEOPHARM, Inc., based in Waukegan, Illinois, is a publicly traded biopharmaceutical company dedicated to the research, development and commercialization of new and innovative cancer drugs for therapeutic applications. Additional information, including ongoing clinical trials, can be obtained by visiting NEOPHARM's Web site at www.NEOPHARM.com.
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