MAP Pharmaceuticals Announces Proposed Public Offering of Common Stock

MAP Pharmaceuticals, Inc.

announced today that it intends to offer and sell shares of its common stock in an underwritten public offering. MAP Pharmaceuticals expects to grant the underwriters a 30-day option to purchase an additional 15% of the shares of common stock to be sold in the proposed offering. All of the shares to be sold in the proposed offering will be sold by MAP Pharmaceuticals. MAP Pharmaceuticals intends to use the proceeds from the proposed offering for general corporate purposes and commercialization activities for LEVADEX®, an orally inhaled investigational drug for the acute treatment of migraine. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering.