Exhibit 99.1

 Critical Therapeutics Announces Acceptance of Controlled-Release Zileuton New
                       Drug Application for Review by FDA

    LEXINGTON, Mass.--(BUSINESS WIRE)--Oct. 17, 2006--Critical
Therapeutics, Inc. (Nasdaq: CRTX) today announced that the U.S. Food
and Drug Administration (FDA) has accepted for filing the Company's
New Drug Application (NDA) for the twice-daily, controlled-release
formulation of zileuton (zileuton CR). Zileuton CR is an
investigational drug developed for the prevention and chronic
treatment of asthma in adults and children 12 years of age and older.
The Company submitted the NDA in late July and, pending regulatory
approval, expects to launch zileuton CR in the second half of 2007.
The Prescription Drug User Fee Act (PDUFA) date is May 31, 2007.

    "We look forward to working closely with the FDA during the review
process," said Critical Therapeutics President Frank Thomas. The NDA
includes results from two previously completed Phase III trials that
evaluated the safety and efficacy of zileuton CR in 818 asthma
patients. The NDA also includes the results from two comparative
bioavailability studies intended to bridge Critical Therapeutics'
formulation to the formulation used in the Phase III trials.

    Critical Therapeutics currently markets its asthma drug ZYFLO(R)
(zileuton tablets), the immediate-release formulation of zileuton, in
the U.S. ZYFLO is the only 5-lipoxygenase inhibitor approved for
marketing by the FDA. "We expect zileuton CR to build on the market
penetration of ZYFLO and to enhance compliance by allowing patients to
follow a more convenient and manageable twice daily dosing schedule,"
Thomas said.

    About Zileuton/ZYFLO

    ZYFLO(R) (zileuton tablets) is indicated for the prevention and
chronic treatment of asthma in adults and children 12 years of age and
older. Zileuton inhibits 5-lipoxygenase (5-LO), an enzyme that
catalyzes the formation of leukotrienes from arachidonic acid. 5-LO is
the main enzyme responsible for the production of leukotrienes, a
family of inflammatory mediators that can trigger asthma symptoms,
including inflammation, swelling, bronchoconstriction and mucus
secretion. ZYFLO is the only 5-LO inhibitor approved for marketing by
the U.S. Food and Drug Administration.

    ZYFLO is not indicated for use in the reversal of bronchospasm in
acute asthma attacks, including status asthmaticus. Mild to moderate
side effects associated with the use of ZYFLO are abdominal pain,
upset stomach and nausea. A small percentage of patients treated with
ZYFLO show an increased release of a liver enzyme known as ALT. As a
result, the level of liver enzymes in patients treated with ZYFLO
should be measured by a simple blood test. It is recommended that
physicians perform this test before administering ZYFLO and repeat the
test on a regular basis while patients are on the medication. ZYFLO is
contraindicated in patients with active liver disease or transaminase
elevations greater than or equal to three times the upper limit of
normal.

    For full prescribing information, please visit
www.crtx.com/pat_pi.html or call the Company's toll free telephone
number 1-866-835-8216 to request medical information.

    About Critical Therapeutics

    Critical Therapeutics, Inc. is a biopharmaceutical company focused
on the discovery, development and commercialization of products for
respiratory, inflammatory and critical care diseases. The Company owns
worldwide rights to the asthma drug ZYFLO(R) (zileuton tablets), as
well as other formulations of zileuton. ZYFLO is the only
5-lipoxygenase inhibitor approved for marketing by the U.S. Food and
Drug Administration. The Company's commercialization efforts for ZYFLO
are carried out by its specialty sales force. Critical Therapeutics
also is developing treatments directed toward the severe inflammatory
response in acute diseases and conditions that lead to admission to
the emergency room or intensive care unit, and acute exacerbations of
other chronic diseases that frequently lead to hospitalization. For
more information, please visit www.crtx.com.

    Forward-Looking Statements

    Any statements in this press release about future expectations,
plans and prospects for Critical Therapeutics, Inc., including,
without limitation, statements regarding the regulatory process for
our zileuton CR product candidate and the commercial launch of the
product candidate, if approved; and all other statements that are not
purely historical in nature, constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of
1995. Without limiting the foregoing, the words "anticipate,"
"believe," "could," "estimate," "expect," "intend," "may," "plan,"
"project," "should," "will," "would" and similar expressions are
intended to identify forward-looking statements. Actual results may
differ materially from those indicated by such forward-looking
statements as a result of various important factors, including risks
and uncertainties relating to: the timing and success of submission,
acceptance and approval of our regulatory filings, including, without
limitation, the NDA submission for zileuton CR; whether the FDA will
determine that the data contained in the NDA is sufficient for
approval of the NDA, including the data from the bioavailability
studies referenced above which are intended to bridge the Company's
current formulation of the product to the formulation tested in the
Phase III clinical trials; our ability to successfully launch zileuton
CR on a timely basis or at all, if zileuton CR is approved by the FDA;
conducting clinical trials, including difficulties or delays in the
completion of patient enrollment, data collection or data analysis;
the results of preclinical studies and clinical trials with respect to
our products under development and whether such results will be
indicative of results obtained in later clinical trials; our ability
to successfully market and sell ZYFLO; our ability to maintain
regulatory approvals to market and sell ZYFLO; our ability to develop
and maintain the necessary sales, marketing, distribution and
manufacturing capabilities to commercialize ZYFLO; patient, physician
and third-payer acceptance of ZYFLO as a safe and effective
therapeutic product; adverse side effects experienced by patients
taking ZYFLO; our heavy dependence on the commercial success of ZYFLO
and zileuton CR, if approved; our ability to obtain the substantial
additional funding required to conduct our research, development and
commercialization activities; our dependence on our strategic
collaboration with MedImmune, Inc.; and our ability to obtain,
maintain and enforce patent and other intellectual property protection
for ZYFLO, our drug candidates and our discoveries. These and other
risks are described in greater detail in the "Risk Factors" section of
our most recent Quarterly Report on Form 10-Q and other filings that
we make with the Securities and Exchange Commission (SEC). If one or
more of these factors materialize, or if any underlying assumptions
prove incorrect, our actual results, performance or achievements may
vary materially from any future results, performance or achievements
expressed or implied by these forward-looking statements.

    In addition, the statements in this release reflect our
expectations and beliefs as of the date of this release. We anticipate
that subsequent events and developments will cause our expectations
and beliefs to change. However, while we may elect to update these
forward-looking statements publicly at some point in the future, we
specifically disclaim any obligation to do so, whether as a result of
new information, future events or otherwise. These forward-looking
statements should not be relied upon as representing our views as of
any date subsequent to the date of this release.

    ZYFLO(R) is a registered trademark of Critical Therapeutics, Inc.

    CONTACT: Critical Therapeutics, Inc.
             Linda S. Lennox, 781-402-5708
             Vice President, Investor & Media Relations
             llennox@crtx.com