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Critical Therapeutics Reports First Quarter 2005 Financial Results

May 11, 2005

Critical Therapeutics, a biopharmaceutical company focused on the discovery, development and commercialization of products for respiratory, inflammatory and critical care diseases, reported financial results for the first quarter ended March 31, 2005. The net loss for the first quarter of 2005 was $9.1 million, or $0.38 per common share, based on approximately 23.9 million weighted average common shares outstanding. This compares with a net loss of $7.5 million, or $6.85 per common share, for the three months ended March 31, 2004, based on approximately 1.1 million weighted average common shares outstanding.

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