NeurogesX Inc (fka NGSX)

[powerbattles]

Nothing left shareholders holding the bag here eom

NeurogesX plans to use the $7,000,000 cash proceeds received upon the closing of the transaction contemplated by the APA to satisfy NeurogesX’ obligations to its creditors, but it is likely that such proceeds will not be sufficient to satisfy NeurogesX’ obligations to its creditors in full. In addition, to the extent that NeurogesX is able to satisfy its creditor obligations, NeurogesX expects that little, if any, of the initial closing proceeds will be available to distribute to its stockholders.