Los Angeles, CA, February 7, 2007 /PRNewswire-FirstCall/ -- Cougar Biotechnology, Inc. (OTC:CGRB.OB) (BULLETIN BOARD: CGRB.OB) , a publicly held biotechnology company, announced today that the Company's common shares have been accepted for quotation on the OTC Bulletin Board(R), under the trading symbol "CGRB.OB." About Cougar Biotechnology Cougar Biotechnology, Inc. is a Los Angeles-based biotechnology company established to in-license and develop clinical stage drugs, with a specific focus on the field of oncology. Cougar's oncology portfolio includes CB7630, a targeted inhibitor of the 17-alpha hydroxylase/c17,20 lyase enzyme, which is currently being tested in Phase II clinical trials in prostate cancer; CB3304, an inhibitor of microtubule dynamics, which is currently in a Phase I trial in hematological malignancies and CB1089, an analog of vitamin D, which has been clinically tested in a number of solid tumor types. Further information about Cougar Biotechnology can be found at http://www.cougarbiotechnology.com/. This press release contains forward-looking statements that involve risks and uncertainties that could cause Cougar's actual results and experiences to differ materially from the anticipated results and expectations expressed in these forward-looking statements. These statements are often, but not always, made through the use of words or phrases such as "anticipates," "expects," "plans," "believes," "intends," and similar words or phrases. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties, which could cause actual outcomes and results to differ materially from these statements. Among other things, there can be no assurances that the development of CB7630 will ever be successfully completed, or that Cougar will ever receive the regulatory approvals to necessary to commercialize CB7630. Other risks that may affect forward-looking information contained in this press release include the risk that the results of clinical trials may not support Cougar's claims, Cougar's reliance on third-party researchers to develop its product candidates, and its lack of experience in developing and commercializing pharmaceutical products. Additional risks are described in the company's Current Report on Form 8-K filed with the Securities and Exchange Commission on April 7, 2006. Cougar assumes no obligation to update these statements, except as required by law. Contacts: Cougar Biotechnology, Inc. Noonan Russo Alan H. Auerbach David Schull Chief Executive Officer and President +1 212-845-4271 +1 310-943-8040 Mariann Ohanesian Andreas Marathovouniotis Director of Investor Relations +1 212-845-4253 +1 310-943-8040, Ext. 117 DATASOURCE: Cougar Biotechnology, Inc. CONTACT: Alan H. Auerbach, Chief Executive Officer and President, Inc., +1-310-943-8040, , or Mariann Ohanesian, Director of Investor Relations, +1-310-943-8040, Ext. 117, ; David Schull, +1-212-845-4271, , or Andreas Marathovouniotis, +1-212-845-4253, , both of Noonan Russo for Cougar Biotechnology, Inc. Web site: http://www.cougarbiotechnology.com/

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