RespireRx Pharmaceuticals Inc (RSPI)

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So looks like they were able to raise the following -


$195 K during Q-1

$655 K after the end of Q-1

$55 K

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The $655 K is the main new money since it appears most of the $195 K was already spent on various Q-1 expenses (since cash remaining at the end of Q-1 was only $6 K).

$655 K is a good start, though obviously more will be needed fairly soon. The 10-Q says they eliminated $344 K in accrued interest, but it isn't clear whether or not this came out of the $655 K (?)

On the clinical front, they say the final data collection will occur this month (May) for both the CX-1739 RD trial and the Dronabinol SA trial, so that's great news. They say the results for the CX-1739 RD trial will be out during Q-3, so the July/Aug/Sept period. They don't say when the the Dronabinol SA trial results will be out (though final data collection is occurring this month, May), since the trial is being run by the NIH and not by RespireRx. But sounds like very good news all around for progress on the clinical trial front.

So with clinical results clearly on the way, RespireRx can hopefully raise some additional funds in the months ahead, perhaps combined with a general restructuring of their share structure via a reverse split/recapitalization.

So kudos to management for resuscitating the company and getting things back on track. The rest of 2016 should be an exciting time. My prediction is for CX-1739 to kick serious tail in this RD trial, and also have very high hopes for Dronabinol. Still need to see that cash level get in the multimillion area to provide some breathing room, but it's great to see things getting back on track :o)