Cobalis Completes Enrollment in Twin Phase III Clinical Trials for PreHistin(R).

IRVINE, Calif. -- Cobalis Corp. (OTC BB: CLSC), a pharmaceutical development company specializing in anti-allergy medications, announced today that the Company has successfully completed the enrollment of a total of 1,551 patients across two identical Phase III Clinical Trials of its anti-allergy medication PreHistin(R) in patients with moderate to moderately severe seasonal allergic rhinitis. The trials are being conducted at 23 sites across the central, southern and eastern United States.

It is expected that the ten-week trials will be completed in November. Cobalis expects to report final data from these Phase III Clinical Trials in the first quarter of 2007, followed by submission of a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA).

Dr. Gerald Yakatan, Cobalis' CEO, said, "I am very pleased with the speed and efficiency with which the patient enrollment was conducted, and I believe it is a reflection of the breadth of the market opportunity we are addressing. I would like to congratulate our clinical team on a job well done. Assuming a favorable trial outcome, we plan to expeditiously prepare and submit the NDA."

These twin studies, consisting of 788 and 763 patients, are anticipated to fulfill the requirement for the two Phase III double blind, placebo controlled studies typically required for FDA approval.

About Cobalis Corp.

Cobalis Corp. is a specialty pharmaceutical development company specializing in medications to prevent and treat atopic disease, including allergies, migraine headache, atopic asthma and dermatitis. Its flagship drug candidate PreHistin is an allergy prevention medication. Cobalis plans to seek FDA approval to market PreHistin over-the-counter in the US. For further information, visit www.cobalis.com

Safe Harbor

This press release contains forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 (the "Act"). Cobalis disclaims any intent or obligation to update these forward-looking statements, and claims the protection of the Safe Harbor for forward-looking statements contained in the Act. Examples of such statements include, but are not limited to, any statements relating to the timing, scope or expected outcome of the Company's clinical development of its drug candidates, the potential benefits of the Company's drug candidates and the size of the potential market for the Company's products. Such statements are based on management's current expectations, but actual results may differ materially due to various factors. Such statements involve risks and uncertainties, including, but not limited to, those risks and uncertainties relating to difficulties or delays in development, testing, regulatory approval, production and marketing of the Company's drug candidates, unexpected adverse side effects or inadequate therapeutic efficacy of the Company's drug candidates that could slow or prevent product approval or market acceptance (including the risk that current and past results of clinical trials are not necessarily indicative of future results of clinical trials), the development of competing products by our competitors; uncertainties related to the Company's dependence on third parties and partners; and those risks described in our quarterly reports on Form 10KSB and 10QSB filed with the SEC on July 14, 2006 and August 18, 2006, respectively.