EXHIBIT 99.1

LOGO

FOR IMMEDIATE RELEASE

 

Contact:  
Adolor Corporation   Sam Brown, Inc. (media)
Thomas P. Hess, CPA   Mike Beyer (773) 463-4211
Vice President, Finance and CFO  
(484) 595-1500  

ADOLOR CORPORATION REPORTS

YEAR END 2005 FINANCIAL RESULTS

EXTON, Pa., March 2, 2006

— Adolor Corporation (Nasdaq: ADLR) today reported financial results for the year and fourth quarter ended December 31, 2005.

For the twelve months ended December 31, 2005, the Company reported a net loss of $56.8 million or $1.45 per basic and diluted share, compared to a net loss of $43.6 million or $1.12 per basic and diluted share for the same period in 2004. For the three months ended December 31, 2005, the Company reported a net loss of $15.8 million or $0.41 per basic and diluted share, compared to a net loss of $11.6 million or $0.30 per basic and diluted share in the three months ended December 31, 2004.

Contract revenues for the twelve months ended December 31, 2005 were $15.7 million compared to $25.5 million in the same period in 2004. This decrease was primarily due to the recognition in 2004 of $10.0 million in milestone revenue received from Glaxo Group Limited (“Glaxo”), in addition to a reduction in cost reimbursement revenues relating to a decrease in expenses incurred by us which are reimbursable by Glaxo under the collaboration agreement. These decreases were partially offset by a revenue increase in 2005 as compared to 2004 of $4.2 million under our co-promotion arrangement with Glaxo relating to Arixtra®. Contract revenues for the three months ended December 31, 2005 were $4.3 million, compared to $4.4 million in the same period of 2004.

Research and development expenses in the twelve months ended December 31, 2005 were $49.6 million, compared to $48.8 million for the same period in 2004. Research and development expenses in the three months ended December 31, 2005 were $14.3 million, compared to $10.7 million for the same period in 2004. These increases were primarily due to increased expenses relating to the opioid bowel dysfunction (OBD) program, Study 314, and other development programs and personnel costs. These increases were partially offset by the recognition of $4.5 million in license fee expense related to Entereg® in 2004.


The following information was filed by Adolor Corp (ADLR) on Friday, March 3, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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