MacroChem Corporation Complies With Nasdaq Rule Regarding Recently Filed 10-K LEXINGTON, Mass., April 1 /PRNewswire-FirstCall/ -- In accordance with applicable Nasdaq rules, MacroChem Corporation (NasdaqSC: MCHM) today announced that the report of the Company's independent registered public accounting firm regarding the Company's 2004 financial statements included in its Annual Report on Form 10-K filed on March 31, 2005 contained an explanatory paragraph regarding the Company's ability to continue as a going concern. Today's announcement is meant to comply with the Nasdaq Marketplace Rule requiring Nasdaq-traded companies to publicly announce whenever a Form 10-K includes an audit report containing a going concern explanatory paragraph. The explanatory paragraph in the recently filed Form 10-K was based upon recurring losses from operations and the Company's cash balance as of December 31, 2004, which is not sufficient to fund projected operations over the next year. The explanatory paragraph does not take into consideration any potential future cash inflows. For a discussion of the Company's plans to address its liquidity needs, please refer to the Company's recently filed Annual Report on Form 10-K. About MacroChem MacroChem is a specialty pharmaceutical company that innovates, develops and commercializes pharmaceuticals administered in novel ways, to treat important medical conditions. MacroChem is developing two products containing its patented enhancer, SEPA(R): Opterone(R), a SEPA-enhanced topical testosterone treatment for male hypogonadism; and EcoNail(TM), a SEPA-enhanced antifungal nail lacquer to treat a common and potentially debilitating nail infection known as onychomycosis. For more information on MacroChem, and its technology and products, please visit our website at: http://www.macrochem.com/. Forward-Looking Statements With the exception of historical information contained in this press release, the matters described herein are forward-looking statements that involve risks and uncertainties. MacroChem's actual results may differ significantly from the results discussed in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, those discussed or referred to in the section entitled "Risk Factors" in MacroChem's Annual Report on Form 10-K, as well as those discussed elsewhere therein, and include, without limitation, risks regarding product development, the timing and results of clinical trials, the regulatory approval process, capital requirements, financial condition, patent protection and dependence on third parties for development and licensing arrangements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. MacroChem undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Investor Contact: Bernard Patriacca (781) 862-4003 Media Contact: Donna LaVoie (LaVoie Group) (781) 596-0200 x103 DATASOURCE: MacroChem Corporation Contact: Bernard Patriacca, Investor Contact of MacroChem, +1-781-862-4003; or Donna LaVoie, Media Contact of the LaVoie Group, +1-781-596-0200 ext. 103 Web site: http://www.macrochem.com/

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