Clinical Data Reports Record Profits.

NEWTON, Mass. -- Year-to-date Net Income Increased 339% and Quarterly Net Income Up 62%

Clinical Data, Inc. (NASDAQ:CLDA) today announced consolidated revenues and earnings for its third quarter ended December 31, 2004. Revenues for the three-month period were $14.3 million compared to $13.8 million for the same period a year ago. The Company reported net income of $1,016,000, or $0.23 per basic common share, compared with net income of $629,000 and net income applicable to common stockholders of $507,000 for the period or $0.17 per basic common share for the third quarter last year.

Revenues for the nine-month period ended December 31, 2004 were $43,660,000 as compared to $36,780,000 for the same period last year. The Company reported net income of $3,197,000, or $0.73 per common share compared with net income of $728,000 and net income applicable to common stockholders of $236,000 for the nine-month period or $0.11 per basic common share for the same period last year.

Israel M. Stein, M.D., President and CEO of Clinical Data commented, "We are pleased to report record operating profit for the quarter and year-to-date periods, and historically our highest recorded net income for the first nine months of this fiscal year. We are also pleased that both the Physician's Office Laboratory and the Clinics and Small Hospital segments of our business contributed significantly to these results."

Dr. Stein continued, "Over the next six months, we will be investing in an important new product initiative in hematology. As previously announced, under an exclusive distribution arrangement, we intend to launch a line of analyzers and reagents employing a unique blood cell counting technology developed by Melet Schloesing Laboratoires. Pending regulatory approval, these new proprietary products should favorably impact Clinical Data's results in the next fiscal year."

About Clinical Data, Inc.

Clinical Data, Inc., established in 1972, through its domestic and foreign subsidiaries, focuses on the needs of physician offices and smaller clinical laboratories. The Company provides a complete range of products and consulting services to the growing physician office laboratory market and offers blood chemistry instrumentation and diagnostic assays to clinics and small hospitals worldwide.

Except for any historical information contained in this press release, the matters discussed herein constitute forward looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, that involve significant risks and uncertainties. Actual results could differ materially from those expressed in such statements and for additional important information about Clinical Data readers are referred to the Company's recent SEC reports and filings, including the Company's Annual Report on Form 10-KSB for the year ended March 31, 2004, filed with the SEC on June 28, 2004, and the Company's Quarterly Reports on Form 10-QSB for quarters ended June 30, 2004, September 30, 2004 and December 31, 2004, filed with the SEC on August 12, 2004, November 12, 2004, and February 11, 2005, respectively.

Clinical Data, Inc. and subsidiaries
                              (unaudited)
               CONSOLIDATED STATEMENT OF OPERATIONS DATA
               (in thousands, except for per share data)

                                   For the Three      For the Nine
                                     Months Ended      Months Ended
                                 12/31/04 12/31/03  12/31/04 12/31/03
                                 ------------------ ------------------

Revenues                          $14,343  $13,797   $43,660  $36,780

Income from operations             $1,738   $1,040    $5,215   $1,152

Net Income                         $1,016     $629    $3,197     $728

Basic net income  per share         $0.23 $0.17 (a)    $0.73  $0.11(b)

Diluted net income per share        $0.23 $0.14 (a)    $0.71  $0.10(b)

Basic Weighted Average
 Common Shares Outstanding          4,392    2,987     4,387    2,237

Diluted Weighted Average
 Common Shares Outstanding          4,509    4,451     4,502    2,350

(a) The earnings per share figure reflects the assumed preferred stock
    dividend of $122 or $0.04 per basic common share and $0.03 per
    diluted common share.

(b) The earnings per share figure reflects the assumed preferred stock
    dividend of $492 or $0.22 per basic common share and $0.21 per
    diluted common share.

As of January 12, 2004, all of the preferred stock had been
converted to common stock, relieving the Company of any obligation to
pay the preferred dividend. For a further explanation see Form 10-KSB,
as amended on July 29, 2003.