To: Frederick Langford who wrote (60744 ) 7/17/2002 10:38:58 AM From: Dave Gore Respond to of 208838 NOVN ($10.90) --- Moving up now; down 10 points (50%) in the last week; down in sympathy with WYE, but earnings exceeded expectations a few days ago. Announced as an ODOD (Oversold Disaster Of they Day) pick at $10.10 this morning on my thread about 10 minutes ago. You may want to check into it. NOVEN ANNOUNCES RECORD FINANCIAL RESULTS Net Income Up 193% Over 1999 Third Quarter Quarterly Revenues Increase 38% Over Prior Year Period MIAMI, FL., November 1, 2000 - Noven Pharmaceuticals, Inc. (NASDAQ: NOVN) today announced record financial results for the quarter and nine-month period ended September 30, 2000. For the quarter, Noven reported net income of $3.6 million, or diluted earnings of $.15 per share, compared to $1.2 million, or diluted earnings of $.06 per share, for the third quarter of 1999. Revenues were $11.2 million, compared to $8.1 million for the same quarter in 1999. Noven increased its research and development spending in the third quarter to $3.3 million from $1.6 million in the third quarter of 1999, most of which related to clinical trials for Noven's MethyPatchâ„¢ transdermal methylphenidate delivery system for Attention Deficit Hyperactivity Disorder, which is in Phase III clinical trials. For the first nine months of 2000, Noven reported net income of $8.9 million, or diluted earnings of $.39 per share, compared to $2.9 million, or diluted earnings of $.13 per share, for the first nine months of 1999. Revenues were $31.2 million compared to $23.0 million for the same period in 1999. Research and development expense for the first nine months of 2000 was $8.7 million, compared to $4.7 million in the same period in 1999.