JOHNSON & JOHNSON — Director's Dealing 2004

May 27, 2004

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: CRITICAL THERAPEUTICS INC (CRTX)
CIK: 0001145404
Period of Report: 2004-05-26

Reporting Person: JOHNSON & JOHNSON (10% Owner)
Reporting Person: JOHNSON & JOHNSON DEVELOPMENT CORP ET AL (10% Owner)

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Series A Preferred Stock	$		Common Stock (533333)		Indirect
Series B Preferred Stock	$		Common Stock (1428571)		Indirect

Footnotes

F1: All of the preferred stock will convert automatically on a 1-for-1 basis into Common Stock of the Issuer upon the closing of the Issuer's initial public offering, for no additional consideration.

F2: The securities reported as being indirectly beneficially owned by the Reporting Person are directly beneficially owned by Johnson & Johnson Development Corporation, a wholly-owned subsidiary of the Reporting Person.