NovaDel Reports First Quarter 2004 Progress FLEMINGTON, N.J., Apr. 7 /PRNewswire-FirstCall/ -- NovaDel Pharma Inc. (BULLETIN BOARD: NVDL) reported substantial progress in product development and commercial activities during thecalendar quarter ended March 31, 2004. Cash at Jan. 31, 2004, the company's latest official reporting period, stood at $12.8 million compared to $3.0 million in the year ago period, due to proceeds from a private offering of the company's common shares completed earlier in January. Net operating loss for the Jan. 31 period just ended was on budget at $1.4 million, or 6 cents per share, compared to a loss of $1.8 million, or 12 cents per share, in 2003's first quarter. "Our strengthened financial position is enabling us to move forward aggressively with our portfolio development programs and to make a timely filing for our first new product, lingual spray nitroglycerin," said Gary Shangold, MD, CEO of NovaDel. NovaDel is currently readying four Tier One product candidates for pilot testing with its patented lingual spray drug delivery technology. These include lingual spray versions of Zofran(R) (ondansetron), the leading anti-emetic marketed in the US by GlaxoSmithKline, Imitrex(R) (sumatriptan) also marketed in the US by GlaxoSmithKline, Ambien(R) (zolpidem) marketed in the US by Sanofi, and Xanax(R) (alprazolam), which is sold by Pfizer and several generic producers. The studies will confirm the utility of NovaDel's patented lingual spray technology to provide rapid therapeutic blood levels of the test compound, while avoiding the GI route of administration and first-pass liver effects. These features are inherent in NovaDel's patented method of drug delivery which allows drugs to enter the blood stream directly through the oral mucosa lining the mouth. A New Drug Application (NDA) for the company's first planned product, nitroglycerin, is expected to be filed by the end of June. Dr. Shangold said the company is very pleased with the progress of early discussions with potential marketing partners interested in funding further development and commercialization of several Tier One product candidates. About NovaDel Pharma Inc. NovaDel Pharma Inc. is a specialty pharmaceutical company engaged in the development of novel drug delivery systems for prescription and over-the- counter drugs. The Company's proprietary lingual spray technology delivery system offers the patient (i) fast onset of action; (ii) improved drug safety by reducing the required drug dosage and reducing side effects; (iii) improved patient convenience and compliance; and (iv) enhanced dosage reliability. The Company plans to develop such products independently and through collaborative arrangements with major pharmaceutical and biotech companies. Except for historical information contained herein, this document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve known andunknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein including, but not limited to, the ability to develop products (independently and through collaborative arrangements), and the ability to commercialize and obtain approval for products under development. Further, the Company operates in industries where securities may be volatile and may be influenced by regulatory and other factors beyond the Company's control. Important factors that the Company believes might cause such differences are discussed in the risk factors detailed in the Company's most recent Annual Report and Registration Statements, filed with the Securities and Exchange Commission. In assessing forward-looking statements contained herein, if any, the reader is urged to carefully read all cautionary statements contained in such filings. CONTACT: Barry C. Cohen VP Business & New Product Development 908-782-3431, ext. 2160 NovaDel Pharma Inc. Thomas Redington +1-203-222-7399 +1-212-926-1733 DATASOURCE: NovaDel Pharma Inc. CONTACT: Barry C. Cohen, VP Business & New Product Development, NovaDel Pharma Inc., +1-908-782-3431, ext. 2160; Thomas Redington, +1-203-222-7399, or +1-212-926-1733, , for NovaDel Pharma Inc.

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