GLFD Guilford Pharmaceuticals (MM)

Guilford Pharmaceuticals to Join NASDAQ Biotech Index BALTIMORE, May 17 /PRNewswire-FirstCall/ -- Guilford Pharmaceuticals Inc. announced today that it will be added to the NASDAQ Biotechnology Index effective at market open May 24, 2004. "We are privileged to be selected to join the other leading companies in our industry that comprise the NASDAQ Biotech Index," remarked Craig R. Smith, M.D., President and Chief Executive Officer. "We are at a very dynamic period in Guilford's history. We now have two marketed products, a late-stage clinical candidate beginning Phase III development, and a rich pipeline of hospital and neurology products. We anticipate making progress in each of these programs this year and pursuing our strategy for becoming a profitable, fully integrated pharmaceutical company." Launched in 1993, the NASDAQ Biotech Index includes companies that are classified as biotechnology or pharmaceutical according to the FTSE(TM) Global Classification System. All securities in the Index are listed on the NASDAQ National Market and meet minimum requirements including market value, average daily share volume and seasoning as a public company, among other criteria. The Index is ranked on a semi-annual basis in May and November and is the basis for the iShares Nasdaq Biotechnology Index(SM) Fund (AMEX:IBB). In addition, options based on the NASDAQ Biotechnology Index and iShares Nasdaq Biotechnology Index Fund trade on various exchanges. About Guilford Guilford Pharmaceuticals Inc. is a fully integrated pharmaceutical company engaged in the research, development and commercialization of products that target the hospital market. Presently, Guilford markets two commercial products, GLIADEL(R) Wafer (polifeprosan 20 with carmustine implant), for the treatment of brain cancer, and AGGRASTAT(R) Injection (tirofiban hydrochloride), a glycoprotein GP IIb/IIIa receptor antagonist used for the treatment of acute coronary syndrome (ACS). Guilford's product pipeline includes a novel anesthetic, AQUAVAN(R) Injection, and drugs for treating Parkinson's disease and post-prostatectomy erectile dysfunction. This press release contains forward-looking statements that involve risks and uncertainties, including those described in the section entitled "Risk Factors" contained in the Company's Annual Report on Form 10-Q filed with the SEC on May 10, 2004, that could cause the Company's actual results and experience to differ materially from anticipated results and expectations expressed in these forward-looking statements. Among other things, there can be no assurance that the Company's late-stage clinical candidates will receive marketing approval from the FDA after Phase III testing has been completed. Contact: Stacey Jurchison, Director, Corporate Communications - 410.631.5022 Internet Address: http://www.guilfordpharm.com/ DATASOURCE: Guilford Pharmaceuticals Inc. CONTACT: Stacey Jurchison, Director, Corporate Communications, Guilford Pharmaceuticals Inc., +1-410-631-5022 Web site: http://www.guilfordpharm.com/ Company News On-Call: http://www.prnewswire.com/comp/112882.html

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