GUILFORD PHARMACEUTICALS REPORTS 2005 SECOND QUARTER RESULTS

Guilford Pharmaceuticals Inc. (Nasdaq: GLFD) today reported financial results for the quarter ended June 30, 2005. For the second quarter, Guilford reported a net loss of $26.5 million, or $0.58 per share, compared to a net loss of $21.3 million, or $0.63 per share, for the corresponding period in 2004. Net loss for the second quarter of 2005 included a non-cash charge to operations of $6.1 million relating to the impairment of the intangible assets for AGGRASTAT(R) Injection (tirofiban hydrochloride) in accordance with SFAS No. 144, "Accounting for Impairment or Disposal of Long-Lived Assets."

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