CELLEGY REPORTS 2005 FINANCIAL RESULTS

Cellegy Pharmaceuticals, Inc. announced its 2005 financial results today. Net loss for the years ended December 31, 2005 and 2004 were $5,007,639 ($.18 per share) and $28,154,062 ($1.28 per share), respectively, with revenues of $12,835,345 and $2,596,377, respectively. Research expenses were $8,481,105 and $9,599,310 in 2005 and 2004, respectively, and selling, general and administrative expenses were $9,248,820 and $6,641,205. Black Enterprise (http://www.blackenterprise.com/yb/ybopen.asp?section=ybbf&story_id=91266997&ID=blackenterprise)