Critical Therapeutics Reports Financial Results for the Three and Nine Months Ended September 30, 2007.

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Critical Therapeutics Reports Financial Results for the Three and Nine Months Ended September 30, 2007.

Company Initiates Review of Business Strategy and Strategic Alternatives

LEXINGTON, Mass. -- Critical Therapeutics, Inc. (Nasdaq: CRTX) today reported financial results for the three and nine months ended September 30, 2007. The Company also announced that it is currently considering potential changes to its business strategy and has engaged an investment bank to advise it on potential strategic alternatives.

"We have accomplished of a number of significant milestones during the past twelve months and do not believe that our current valuation is reflective of the true value of our assets," said Frank Thomas, President and Chief Executive Officer. "Therefore, we have initiated a comprehensive process to evaluate other strategies that might better maximize the value of our assets and ultimately realize value for our shareholders."

For the three months ended September 30, 2007, the Company posted a net loss of $7.8 million, or $0.18 per share, based on 42.6 million weighted average common shares outstanding. This compares with a net loss of $8.9 million, or $0.26 per share, for the same period in 2006, based on 34.3 million weighted averag...

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