TRANSITION THERAPEUTICS INC. T.TTH

Message I recieved from Carl Damiani

[cmulaisho]

Not much info, mostly stuff everyone else knows. Has a decision alreay been made and is todays action a result of a news leak... who knows. People fed and moving to other plays with Markets hitting year highs... who knows. At this point will we drop below $11 maybe, but is there really any point in selling now...I don't think so. IMO the time to get out was in the $14 range....not now. At this point we may go below $11 but I don't see us going below $10. That essentially values us back to close to the $1.00 pre-split price from last year. I'm not seeing the BIG houses that took us to $2.00 (pre-split) selling here (unless of course they are doing it under anonymous) so heres hoping for the best. GLTA.. Hello XXXXXXX, The guidance for the decision by Novo Nordisk is this quarter, calendar Q4 2007. This will provide for review of the full clinical data sets for both E1-INT trials by Novo. Transition has a strategy in place for the development of its gastrin based therapies with or without Novo Nordisk. The data from the type 2 diabetes trial is very encouraging and supports the potential of gastrin as a new mechanism of action for the treatment of diabetes. Best regards, Carl -----Original Message----- From: XXXXXX XXXXX [mailto:XXXXXXXXXXXXX] Sent: October 4, 2007 2:56 AM To: Carl Damiani Subject: RE: Transition Therapeutics Hi Carl, We spoke in August regarding guidance on Novo Nordisk's option on the E1-I.N.T platform. Guidance has always been Q3 of the calendar year and we are currently just entered Q4 of the calender year. It seems that there have been a lot of delays regarding this decision from Noro Nordisk. Has Norvo updated their guidance with decision to E1-I.N.T? In the event that they choose to not exercise their option, will TTH proceed with further trials on its own until a partnership can be arranged? Thanks again HI XXXX XXXXX Thanks for your email and continued support of Transition Therapeutics. Our guidance for a decision from Novo Nordisk has been calendar Q3 2007 and remains so. We have performed multiple Phase I studies with AZD-103 and will be reporting shortly on the completion of Phase I studies. There is a concerted effort from both Elan and Transition to advance AZD-103 into Phase II clinical studies in Alzheimer's patients as quickly as possible. The FDA recognizes the potential of AZD-103 and has granted the drug candidate "Fast Track" status to help expedite its clinical development. For HCV-IET, we continue to work on a partnership for the next steps in development of this product. Our clinical development resources are focused on the development of AZD-103 for Alzheimers and multiple gastrin-based therapeutics for diabetes. If you wish to discuss further, feel free to contact me directly at the number below. Carl Carl Damiani Director of Business Development Transition Therapeutics Inc. New Phone Numbers Direct: [phone] Tel: [phone], ext. 206 Fax: [phone] [e-mail]