For Immediate Release



Contact:

(Company)                                         (Corporate Communications)

Barbara Duncan                                     Kathleen Eppolito

Chief Financial Officer                            Scientia Communications, Inc.

DOV Pharmaceutical, Inc.                           (718) 281-1809

(201) 968-0980



   DOV Pharmaceutical, Inc. Announces Fourth Quarter and Year End 2003 Results



Hackensack, NJ, March 12, 2004. DOV Pharmaceutical, Inc. (Nasdaq: DOVP) today

announced results for the fourth quarter and year ending December 31, 2003.



Fourth Quarter and Year End 2003 Performance



For the fourth quarter of 2003, the Company reported a net loss attributable to

common stockholders of $12.0 million, or $0.73 per share, as compared with $6.5

million, or $0.45 per share, for the comparable period last year. For the year

ended December 31, 2003, the Company reported a net loss attributable to common

stockholders of $26.7 million, or $1.73 per share, compared with $16.8 million,

or $1.47 per share, for the comparable period last year. Included in net loss in

the fourth quarter of 2003 and for the year ended December 31, 2003 is an

expenditure of $5.3 million on the acquisition of the remaining outside interest

in bicifadine and ocinaplon. Significant non-cash expense items in the fourth

quarter of 2003 and for the year ended December 31, 2003 are interest expense of

$925,000 and $2.9 million, respectively. At December 31, 2003, cash and cash

equivalents and marketable securities totaled $52.2 million as compared to $60.4

million at December 31, 2002.



Revenue. Revenue in the fourth quarter of 2003 and for the year ended December

31, 2003 decreased $542,000 and increased $579,000 respectively, from the

comparable periods last year. In 2003, revenue was comprised solely of the

recognition of $3.0 million of deferred revenue from the termination of the 2001

Biovail agreement as described below. In 2002, the Company's revenue was

primarily comprised of $2.2 million in amortization of the $7.5 million fee it

received on signing of the license, research and development agreement for its

collaboration with Biovail in January 2001.



Operating Expenses. Operating expenses include royalty and license expense,

research and development expense and general and administrative expense.

Operating expenses in the fourth quarter of 2003 and for the year ended December

31, 2003 increased $7.2 million and $14.6 million, respectively, from the

comparable periods last year.



{PAGE}



Royalty and Licensing Expense. Royalty and license expense increased $1.0

million for the year ended December 31, 2003 from the comparable period last

year. In connection with the termination of the 2001 Biovail agreement described

below, the Company paid $1.0 million to obtain the DOV diltiazem patent and

related clinical data from Biovail.



Research and Development Expense. Research and development expense in the fourth

quarter of 2003 and for the year ended December 31, 2003 increased $7.1 million

and $12.4 million, respectively, from the comparable periods last year as the

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