Cobalis Completes Patient Dosing in Phase III Clinical Trials for OTC Anti-Allergy Product Candidate.

IRVINE, Calif. -- Cobalis Corp. (OTC BB: CLSC) a pharmaceutical development company specializing in anti-allergy medications, announced today that the Company has completed the dosing portion of its ten-week twin Phase III Clinical Trials for its anti-allergy medication, PreHistin[TM]. The randomized, double blind, placebo-controlled trials are designed to test the safety and efficacy of pre-seasonal treatment with PreHistin on moderate to moderately severe seasonal ragweed allergy patients.

The Phase III Clinical Trials involved 1,551 patients at 23 sites across the central, southern and eastern United States who received either placebo or a 3.3 mg sublingual dosage of PreHistin twice daily for three weeks prior to the onset of the ragweed allergy season and for an additional three weeks into the allergy season. Symptom diaries are being maintained for an additional four weeks following treatment to determine duration of effect. Cobalis anticipates reporting top-line efficacy results from the pivotal trials in the first quarter of 2007.

"We are pleased to reach this milestone in our Phase III development program for PreHistin" commented Chief Scientific Officer, Ernie Armstrong. "The market for allergy prevention and treatment is ripe for new entries and we are hopeful that, if successful, our direct to OTC strategy will soon provide ready access to relief for millions of seasonal allergy suffers."

The objective of the twin Phase III pivotal trials is to provide the FDA with sufficient safety and efficacy data to support marketing approval of PreHistin. The primary efficacy parameter for each trial is the difference in the mean reduction in Total Nasal Symptom Score (TNSS) observed between placebo and PreHistin over weeks four, five and six of the studies.

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 securing funding for ongoing operations including clinical trials, 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 report on Form 10-KSB filed with the SEC on July 14, 2006.