Federman & Sherwood Announces That a Securities Class Action Lawsuit Has Been Filed Against Discovery Laboratories, Inc.

On May 1, 2006, a class action lawsuit was filed in the United States District Court for the Eastern District of Pennsylvania against Discovery Laboratories, Inc. (Nasdaq: DSCO). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material misrepresentations to the market which had the effect of artificially inflating the market price. The class period is from January 26, 2006 through April 25, 2006.

Plaintiff seeks to recover damages on behalf of the Class. If you are a member of the Class as described above, you may move the Court no later than Friday, June 30, 2006, to serve as a lead plaintiff for the Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.

If you wish to discuss this action, participate in this or any other lawsuit, or have any questions or concerns regarding this notice, or preservation of your rights, please contact:

William B. Federman

FEDERMAN & SHERWOOD

120 N. Robinson, Suite 2720

Oklahoma City, OK 73102

(405) 235-1560/FAX: (405) 239-2112

Email to: wfederman@aol.com - http://www.federmanlaw.com

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