Oscient Pharmaceuticals Reports First Quarter 2008 Financial Results

Business Wire,  May 7, 2008  

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Consistent with the Company's philosophy of aligning the interests of its employees with those of its stockholders, Oscient recently granted 26 new employees equity grants consisting in the aggregate of (i) a non-qualified option to purchase up to 57,063 shares of the Company's common stock with an exercise price equal to the fair market value of Oscient's common stock at the later of the close of the market on their start date or April 30, 2008, and (ii) 23,825 shares of the Company's restricted common stock. Both the option and restricted stock awards vest in four equal annual installments subject to acceleration upon termination in connection with a change of control. These awards were granted pursuant to the NASDAQ Marketplace Rule 4350(i)(1)(A)(iv) because the grants are being made as inducements to these new employees entering into employment relationships with Oscient.

About Oscient Pharmaceuticals

Oscient Pharmaceuticals Corporation is a commercial-stage pharmaceutical company marketing two FDA-approved products in the United States: ANTARA([R]) (fenofibrate) capsules, a cardiovascular product and FACTIVE([R]) (gemifloxacin mesylate) tablets, a fluoroquinolone antibiotic. ANTARA is indicated for the adjunct treatment of hypercholesterolemia (high blood cholesterol) and hypertriglyceridemia (high triglycerides) in combination with diet. FACTIVE is approved for the treatment of acute bacterial exacerbations of chronic bronchitis and community-acquired pneumonia of mild to moderate severity. Oscient promotes ANTARA and FACTIVE through a national sales force calling on primary care physicians, cardiologists, endocrinologists and pulmonologists. The Company also has a novel, late-stage antibiotic candidate, Ramoplanin, for the treatment of Clostridium difficile-associated disease (CDAD).

For important information regarding the safety and use of ANTARA and FACTIVE, please see the full prescribing information available at www.antararx.com and www.factive.com.

Forward-Looking Statement