Praecis Pharmaceuticals Reports First Quarter 2005 Financial Results

Praecis Pharmaceuticals has announced consolidated financial results for the three months ended March 31, 2005. The company's net loss for the three months ended March 31, 2005, was approximately $12,345,000, or $0.24 per diluted share, compared to a net loss of approximately $15,380,000, or $0.29 per diluted share, for the three months ended March 31, 2004. Total revenues during the first quarter of 2005 were approximately $881,000, compared to approximately $461,000 for the corresponding period in 2004.

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