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Michael J. Fox Looks Past Stem Cells to Internet for Parkinson's Cure {if you click on the link, there is a short interview with MJF}
http://news.yahoo.com/blogs/newsmakers/michael-j--fox-looks-past-stem-cells-to-internet-for-parkinson-s-cure.html
By Russell Goldman, ABC News | Newsmakers – 3 hrs ago
Michael J. Fox, whose turn from Parkinson’s disease patient to scientific crusader made him one of the country’s most visible advocates for stem cell research, now believes the controversial therapy may not ultimately yield a cure for his disease, he told ABC’s Diane Sawyer in an exclusive interview.
There have been “problems along the way,” Fox said of stem cell studies, for which he has long advocated. Instead, he said, new drug therapies are showing real promise and are “closer today” to providing a cure for Parkinson’s disease, a degenerative illness that over time causes the body to become rigid and the brain to shut down.
“Stem cells are an avenue of research that we’ve pursued and continue to pursue but it’s part of a broad portfolio of things that we look at. There have been some issues with stem cells, some problems along the way,” said Fox, who suffers from the diseases’ telltale tics and tremors.
“It’s not so much that [stem cell research has] diminished in its prospects for breakthroughs as much as it’s the other avenues of research have grown and multiplied and become as much or more promising. So, an answer may come from stem cell research but it’s more than likely to come from another area,” he said.
Fox, who recently appeared in episodes of “Curb Your Enthusiasm” and “The Good Wife,” has dedicated himself to finding a cure for Parkinson’s, the disease with which he was diagnosed in 1991.
Fox said he still strongly believes in stem cell research and government support of those studies, praising ongoing research at New York’s Memorial Sloan-Kettering Hospital. When asked about earlier criticism he received from conservative talk show host Rush Limbaugh about his advocacy, Fox said it only “sharpens your resolve.”
Scientists are conducting research and looking for a cure on multiple fronts, Fox said, including drug therapies, experimental surgeries, and developing tests to help make earlier diagnoses.
To that end, his Michael J. Fox Foundation for Parkinson’s Research, the largest private funder of Parkinson’s disease research worldwide, has recently launched an online initiative to increase studies across the country by pairing patients with clinical trials in their areas.
The Fox Trial Finder (Visit FoxTrialFinder.org for more info on clinical trial participation) harnesses the power of the Internet to find patients and, based on their profile of symptoms, pair them with research scientists conducting clinical trials.
Thirty percent of all clinical trials fail to recruit a single subject, according to the foundation’s web site, and many more, some 85 percent, are delayed because scientists are unable to find enough participants.
“People can fill out a form anonymously… and then we can let them know about… clinical trials happening in their area,” Fox said.
Some 200 trials are currently seeking recruits through the website, but one of the most promising will “try to find a biomarker for Parkinson’s, which is really important,” Fox said.
By the time Fox was diagnosed 20 years ago, he said, 80 percent of the dopamine cells in his brain – neurons instrumental in sending the signals that control movement – were depleted.
“We have no way to identify the disease before symptoms appear. If we can target progress along the way, we can arrest progress and eliminate the possibility of symptoms,” he said, adding that this area of research is “the most exciting.”
Fox, who grew up in front of the camera on the 1980s sitcom “Family Ties” and starred in the “Back to the Future” film franchise, worried about the future of his career after announcing his diagnosis in 1998 and leaving the hit show “Spin City.”
In the years since, he has led the Fox Foundation, which has donated more than $300 million to Parkinson’s research. In recent months, however, he has returned to acting more regularly, the result he says, of a new drug regimen that helps control his tics, or dyskinesia.
“I kind of stumbled onto a new combination of meds for what’s called dyskinesia…Now I thought, there’s no reason not to work so I started to accept more work. Larry David called and had a terrific idea and the ‘Good Wife’ is such a terrific show,” he said of his decisions to appear on HBO’s “Curb Your Enthusiasm” and the CBS series “The Good Wife.”
Fox said that each morning he is uncertain exactly how his symptoms will affect him that day. Some mornings he can delay taking his first dose of medicine for a few hours, other days he expects a greater challenge.
"I don’t write off the day ahead of time because of that, it just means it’s going to be tougher sledding,” he said.Having struggled with the disease for years himself, Fox understands its devastating effects and the physical challenges it presents.
He said it was an abiding sense of optimism, a topic on which he has written two books, that allows him to carry on, even on the most difficult days. In 2009, he travelled to the Asian country Bhutan, which emphasizes happiness over productivity, and said he found his symptoms diminished there.
“People talk about me being a paragon of optimism and hope and all that stuff,” he said. “I have a really blessed life, I have an amazing life."
Once upon a time, I was filled with optimism, praise, and hope for this company. But then reality (ie., the patterns of deception, spin,awful leadership, and yes, bad luck) gave my neurons a jolt. Subsequently, it has been downhill ever since. So much for following my sense of reason: Instead, I relied on my gut, which persuaded my brain's reward system to hang on (via a strand of optimism and a clump of hope). On one hand I was falsely and irrationally optimistic, and on the other, I did not like what I saw. Yes, I was tricked by...myself mostly:) Consequently, I only have myself to blame for suffering along with Corx (by not bailing out). As far as the lion's share of blame for the problems at Cortex? Well, if you look at the record, it basically speaks for itself, but...
The smoking gun is still smoking. Most witnesses have walked away and are nowhere to be found, others choose to unsuccessfully conceal the weapon(and act as diversion by pointing the other way), and others (myself included) continue to point at the culprits (whom are still holding the smoking gun!). The drama continues...
From a March 27th post:
There are 'inside jobs' sometimes :) It would have to be a whacking--one at the hands of a subject monkey would be fitting. But, alas, there are no in-house primate studies, or any other internal study, to speak of. That folks, is the 'virtual' reality.
Oink, oink! I here some grunting coming from the sty (for a skeleton crew and shell of a company, ironically, the top two are still living high on the hog--the cannibals that they are):
IRVINE, Calif.--(BUSINESS WIRE)--
Cortex Pharmaceuticals, Inc. (OTCBB (CORX)) reported a net loss of approximately $934,000, or $0.01 per share, for the quarter ended March 31, 2012, compared with a net loss of approximately $1,556,000, or $0.02 per share, for the corresponding prior year period, with the difference including expenses incurred in the prior year period to reacquire the respiratory depression project that Biovail purchased from the Company in March 2010.
For the quarter ended March 31, 2012, the Company’s total operating expenses decreased to approximately $935,000 from approximately $1,584,000 for the corresponding prior year period. Along with the $200,000 upfront payment related to the March 2011 transaction with Biovail, the decreased operating expenses reflect the Company’s previously announced decrease in its internal staffing levels in its efforts to conserve its financial resources. Cortex will continue to outsource a substantial amount of its research and development activities to qualified vendors.
The repurchase of AMPAKINE compounds, patents and rights from Biovail reinforces the Company’s renewed focus on the discovery and development of innovative pharmaceuticals for the treatment of breathing disorders, including respiratory depression and sleep apnea.
During the quarter ended March 31, 2012, Cortex announced the issuance by The United States Patent and Trademark Office (USPTO) of two key patents that protect the next generation of AMPAKINE® compounds, including the lead preclinical compounds, CX2007 and CX2076. The USPTO issued both a composition-of-matter patent and a divisional patent covering methods of use, including the treatment for a broad range of breathing disorders such as opioid-induced respiratory depression and sleep apneas. These issued patents will provide protection from competitors through August 2028.
Cortex Pharmaceuticals, Inc.
Cortex, located in Irvine, California, is a clinical-stage specialty pharmaceutical company focused primarily on the discovery, development and commercialization of positive AMPA-type glutamate receptor modulators. Cortex has pioneered a class of proprietary pharmaceuticals called AMPAKINE compounds, which act to increase the strength of signals at connections between brain cells. Recent research has focused on the use of AMPAKINE compounds for the potential treatment or prevention of respiratory depression induced by opioid analgesics, anesthetic agents and benzodiazepines, as well as the potential treatment for central sleep apnea. For additional information regarding Cortex, please visit the Company’s website at http://www.cortexpharm.com.
Forward-Looking Statement
Note — This press release contains forward-looking statements concerning the Company’s research and development activities. Words such as “believes,” “anticipates,” “plans,” “expects,” “indicates,” “will,” “intends,” “potential,” “suggests,” “assuming,” “designed” and similar expressions are intended to identify forward-looking statements. These statements are based on the Company’s current beliefs and expectations. The success of such activities depends on a number of factors, including the risks that the Company’s proposed products may at any time be found to be unsafe or ineffective for any or all of their proposed indications; that patents may not issue from the Company’s patent applications; that competitors may challenge or design around the Company’s patents or develop competing technologies; that the Company may have insufficient resources to undertake proposed clinical studies or continue its operations and that preclinical or clinical studies may at any point be suspended or take substantially longer than anticipated to complete. As discussed in the Company’s Securities and Exchange Commission filings, the Company’s proposed products will require additional research, lengthy and costly preclinical and clinical testing and regulatory approval. AMPAKINE compounds are investigational drugs and have not been approved for the treatment of any disease. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this press release. The Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.
Cortex Pharmaceuticals, Inc.
Condensed Statements of Operations
(in thousands, except per share data)
Three months ended
March 31,
2012 2011
(Unaudited) (Unaudited)
Revenues $ — $ 25
Operating expenses:
Research and development 203 644
General and administrative 732 940
Total operating expenses 935 1,584
Loss from operations (935 ) (1,559 )
Interest income, net
1
3
Net loss $ (934 ) $ (1,556 )
Net loss per share, basic and diluted $ (0.01 ) $ (0.02 )
Shares used in computing per share amounts
Basic and diluted 85,624 78,858
Cortex Pharmaceuticals, Inc.
Condensed Balance Sheets
(in thousands)
March 31,
2012 December 31,
(Unaudited) 2011
Assets:
Cash and cash equivalents $ 779 $ 1,611
Restricted cash 48 48
Other current assets 60 86
887 1,745
Furniture, equipment and
leasehold improvements, net 56 67
Other
9
9
Total assets $ 952 $ 1,821
Liabilities and Stockholders’ (Deficit) Equity:
Accounts payable and accrued expenses $ 1,193 $ 1,145
Stockholders’ (deficit) equity (241 ) 676
Total liabilities and stockholders’ (deficit) equity $ 952 $ 1,821
MORE INFORMATION AT WWW.CORTEXPHARM.COM
Contact:
Cortex Pharmaceuticals, Inc.
Mark A. Varney, Ph.D., 949-727-3157
President and CEO
I have very little doubt they will find a conniving way to recoup that hit. They've probably been working on it for years. The bigger they are, the more Abbvieus their intentions :)
For the sake of accuracy, the correct figure is $1.6 Billion:
>>Abbott Laboraties to pay $1.6B in settlement<<
No worries, though, just a drop in the bucket for the operation (it pays to be big--it absorbs the cost of the inherent inhumane practices). Time to sweep it under the rug and move on to greater atrocities...
BSWorld--Quit while you're behind (or find some fresh bullshit, lol)...
Hoax: Obama Citizenship Case Reaches Supreme Court, College Transcript Revealed
http://urbanlegends.about.com/od/barackobama/a/obama_citizenship_questioned.htm
Netlore Archive
By David Emery, About.com Guide
See More About:barack obama rumorspolitics and politicians
Updated Jan 6, 2012
Purported AP news story claims Occidental College transcripts reveal that Barack Obama, under the name "Barry Soetoro," received a Fulbright Scholarship only awarded to foreign-born students.
Description: Email hoax
Circulating since: April 2009
Status: False (see details on next page).........................................................................................................................................
Example #2:
Email contributed by an AOL user, Apr. 29, 2009:
Obama Faces More Questions on Citizenship
April 1, 2009
AP - WASHINGTON D.C. - In a move certain to fuel the debate over Obama’s qualifications for the presidency, the group "Americans for Freedom of Information" has released copies of President Obama’s college transcripts from Occidental College.
Released today, the transcript indicates that Obama, under the name Barry Soetoro, received financial aid as a foreign student from Indonesia as an undergraduate at the school. The transcript was released by Occidental College in compliance with a court order in a suit brought by the group in the Superior Court of California. The transcript shows that Obama (Soetoro) applied for financial aid and was awarded a fellowship for foreign students from the Fulbright Foundation Scholarship program. To qualify, for the scholarship, a student must claim foreign citizenship. This document would seem to provide the smoking gun that many of Obama’s detractors have been seeking.
The news has created a firestorm at the White House as the release casts increasing doubt about Obama’s legitimacy and qualification to serve as president. When reached for comment in London, where he has been in meetings with British Prime Minister Gordon Brown, Obama smiled but refused comment on the issue. Meanwhile, White House press secretary Robert Gibbs scoffed at the report stating that this was obviously another attempt by a right-wing conservative group to discredit the president and undermine the administration’s efforts to move the country in a new direction.
Britain's Daily Mail has also carried the story in a front-page article titled, "Obama Eligibility Questioned", leading some to speculate that the story may overshadow economic issues on Obama’s first official visit to the U.K.
In a related matter, under growing pressure from several groups, Justice Antonin Scalia announced that the Supreme Court agreed on Tuesday to hear arguments concerning Obama’s legal eligibility to serve as President in a case brought by Leo Donofrio of New Jersey. This lawsuit claims Obama's dual citizenship disqualified him from serving as president. Donofrio’s case is just one of 18 suits brought by citizens demanding proof of Obama’s citizenship or qualification to serve as president.
Gary Kreep of the United States Justice Foundation has released the results of their investigation of Obama’s campaign spending. This study estimates that Obama has spent upwards of $950,000 in campaign funds in the past year with eleven law firms in 12 states for legal resources to block disclosure of any of his personal records. Mr. Kreep indicated that the investigation is still ongoing but that the final report will be provided to the U.S. attorney general, Eric Holder. Mr. Holder has refused to comment on the matter.
Analysis: Hoax. The original April 1, 2009 posting date suggests it may have been intended as an April Fools prank, but given that the text does little else but parrot actual tenets of the so-called "Birther" movement (those who claim Barack Obama is ineligible for the presidency due to a forged or invalid birth certificate, etc.), it barely qualifies as satire.
Is it really an AP news story?
No. The Associated Press ("AP") never published such a story. It didn't run in any real newspaper, nor on any real wire service. It can, however, be found posted and reposted on hundreds of anti-Obama blogs and websites.
Is it true that the Supreme Court has agreed to hear arguments on Obama's citizenship and eligibility?
No. The Supreme Court has refused to hear the Donofrio case, not to mention every other Obama citizenship case submitted to date.
Did a group called "Americans for Freedom of Information" release Obama's Occidental College transcripts?
No. The organization doesn't exist — or didn't at the time the above message first began circulating, at any rate. A similarly-named website went up after the fact, but there is no evident connection between that website and the fake news story.
Has anyone released Obama's Occidental College transcripts?
No, the transcripts haven't been released (federal privacy laws forbid it), nor has any court of law "ordered" them released. (Source: Occidental College)
Did Obama attend Occidental under the name "Barry Soetoro"?
No. Soetoro was the surname of his stepfather, but there's no evidence Barack Obama used it when he attended college. Fellow alumni quoted in the press remember him as "Barry Obama." According to an Occidental spokesperson quoted on FactCheck.org, the college has no records showing Obama used his stepfather's last name.
Did Obama attend Occidental under a Fulbright Scholarship for Foreign Students?
No. According to various news sources Obama did attend on a scholarship, but it wasn't a Fulbright scholarship, let alone a Fulbright scholarship for foreign students. The Fulbright Foreign Student Program accepts Master's Degree and Ph.D. candidates only. Obama, an undergraduate, was neither. He couldn't have been awarded a Fulbright scholarship for foreign students even if he had been born outside the U.S. (Source: Fulbright Program)
Did the Daily Mail discuss these "revelations" in a news story entitled "Obama Eligibility Questioned"?
No. No such story turns up in a search of the London newspaper's archive.
Did Gary Kreep of the United States Justice Foundation release research showing Obama has spent $950,000 or more "to block disclosure of his personal records"?
I've found no record of any such "research" being published. The U,S. Justice Foundation does exist and its executive director is indeed a man named Gary Kreep, but he's on record saying the above claim is a hoax.
The fact of the matter is that specific expenditures pertaining to litigation on Obama's Constitutional legitimacy aren't a matter of public record. What are a matter of public record — and what have have been continually misrepresented as moneys spent fighting citizenship lawsuits — are the total year-to-year legal expenditures of Obama's campaign finance committee. Anyone who purports to know exactly what portion of those funds were spent responding to citizenship challenges is merely speculating.
Moreover, it's disingenuous to characterize Obama's legal expenditures on these cases as funds dispensed "to block disclosure of his personal records." While various personal documents have been requested in the filings, securing their release wasn't the point of the litigation, which aimed to have Obama's candidacy ruled unconstitutional on a variety of different grounds.
Lastly, it isn't as if a presidential candidate whose legitimacy is challenged in court has the option not to mount a legal defense — just ask John McCain.
...Desperately Seeking 'Coach' (Part three):
Jeff Long's firing of Petrino brings $1.25 million donation
NEWS RELEASE
Citing “the courageous leadership” demonstrated recently by athletics director Jeff Long, the Donald W. Reynolds Foundation and its board chair Tuesday announced two separate gifts to the University of Arkansas totaling $1.25 million.
The Donald W. Reynolds Foundation approved a $1 million gift to help fund the university’s planned Student-Athlete Success Center, a multipurpose academic resource and study center and dining hall for use by the university’s 460 students participating in intercollegiate athletics.
Reynolds Foundation Board Chair Fred W. Smith made a separate, personal donation of $250,000 to support the Student-Athlete Success Center and to rename the university’s existing student-athlete development program as the Jeff Long Student-Athlete Development Program.
“The Donald W. Reynolds Foundation is pleased to make a gift to assist in the construction of a new Student-Athlete Success Center and to create the Jeff Long Student-Athlete Development Program at the University of Arkansas,” Smith announced. “For more than 57 years, the Reynolds Foundation has identified and financially supported organizations and their leaders whose vision is to make a lasting impact in the lives of others.
“The courageous leadership demonstrated by Jeff Long in the course of recent events has further affirmed our confidence in his leadership and his vision for intercollegiate athletics at the University of Arkansas,” Smith continued. “Mr. Long acted with integrity and with the best interests of Razorback student-athletes and the University of Arkansas in mind.”
Smith also shared the reasons behind his own personal gift to the university in Jeff Long’s name.
“In addition to the Reynolds Foundation gift, I am honored to make a personal gift of $250,000 to the Student-Athlete Success Center and the student-athlete development program,” Smith stated. “My family is extremely proud of the University of Arkansas and all that it represents. We are grateful to Chancellor [G. David] Gearhart and Vice Chancellor Long for their tremendous leadership and guidance of this great institution that continues to hold a special place in the hearts of the Smith family.”
“The university is extremely fortunate to have the support of the Reynolds Foundation board as well as the support of Fred Smith and his family,” Gearhart said. “Their generous gifts represent an impressive and meaningful expression of support for—and trust in—the leader of Razorback athletics. They also represent a strong commitment to the young women and men who represent our university in intercollegiate athletics as students and as athletes. Both the Reynolds Foundation and the Smith family are making clear their belief in our university and its future.”
“In approving this grant, the Foundation reaffirms our commitment to Razorback Athletics and the University of Arkansas,” Foundation President Steven L. Anderson stated. “Our previous grant to kick off the expansion of Donald W. Reynolds Razorback Stadium and most recently our $10 million commitment to the football operations center challenged the Razorback faithful to step up their support for the football program. We hope, once again, supporters from across the state and country will show their support of Jeff Long and the athletic program in a meaningful way.”
The Student-Athlete Success Center is one of the proposed facilities outlined in the recently released Razorback Athletic Master Facility Plan. The center will house academic support facilities, including group and individual tutorial rooms, study hall areas, a large auditorium, computer labs, multi-media, career planning, service learning and community service areas.
The center will also include a dining facility that will provide a training table for all 460 student-athletes competing in 19 sports. The dining facility will cater to the nutritional needs of student-athletes while providing the flexibility to meet dining needs of student-athletes on weekends and during other irregular schedules. The facility will also help student-athletes in the efficiency of meeting the many demands of student-athletes by providing a training table located near practice and academic areas.
Conceptual plans present a facility that will range in size from 47,000-58,000 square feet. The total projected cost is $18 million-$23 million. There is currently no timetable for design and construction of the facility which will require approval from the University of Arkansas Board of Trustees.
The Student-Athlete Development Program helps foster the growth of academic, leadership and life skills to benefit student-athletes on and off the field. The existing multifaceted program provides student-athletes with interview and job skills, education about making healthy choices, customized leadership training and provides opportunities for community service.
Long said the news of the donations took him aback.
“When Chancellor Gearhart called to tell me that the Donald W. Reynolds Foundation and Fred Smith had made substantial gifts in my name to our university, I was surprised and truly humbled,” Long shared. “I am extremely grateful to the Reynolds Foundation and the Smith family for their continued investment in the lives of Razorback student-athletes and the University of Arkansas. They have been long time advocates of the Razorbacks, the university and the entire state of Arkansas. Their generosity will help us meet our mission of developing student-athletes to their fullest potential through intercollegiate athletics. Our student-athlete development program remains a focus of our department and of great importance to me.”
The Donald W. Reynolds Foundation is a private foundation located in Las Vegas, Nev. It has been a long-time supporter of the University of Arkansas and Razorback Athletics. Most recently it provided a $10 million challenge grant for the new football center. More information about the Reynolds Foundation is available at http://www.dwreynolds.org/default.htm
...Desperately Seeking CEO (part two):
Alvarion Poised for Biggest Rally in 2012 After Naming New CEO
By Christine Harvey - Apr 19, 2012 3:14 PM ET
Alvarion Ltd. (ALVR) headed for its biggest advance in four months in New York trading after the Israeli maker of wireless communication equipment named a new chief executive officer.
The shares rose 7.9 percent to 67 cents at 2:58 p.m. in New York, set for the biggest gain since Dec. 8. Alvarion’s Tel Aviv (ALVR) stock rose 4.4 percent to 2.4 shekels, or the equivalent of 64 cents.
Hezi Lapid will replace Eran Gorev as Alvarion’s CEO on May 6, the Tel Aviv-based company said in a Business Wire statement today. Shares of Alvarion sank 30 percent on April 5 after the company cut its first-quarter revenue forecast. The stock has dropped 26 percent this year, compared with a 14 percent advance by the Bloomberg Israel-US Equity Index of the biggest New York- traded Israeli companies.
“There has been a lot of pressure from investors to take the company in another direction,” Andrew Uerkwitz, a senior analyst at Oppenheimer & Co Inc., said in a phone interview from New York. “With a new CEO, there is some confidence that it’s going to get back on track.”
To contact the reporter on this story: Christine Harvey in New York at charvey32@bloomberg.net
...Desperately Seeking CEO (part one):
AstraZeneca CEO quits as drug sales tumble
By Ben Hirschler
LONDON (Reuters) - AstraZeneca Chief Executive David Brennan is to step down on June 1 in an abrupt exit after six years in the top job, following rising investor discontent at the company's performance.
Britain's second-biggest drugmaker has suffered repeated drug development setbacks, stoking fears about its long-term prospects given a complete reliance on prescription medicines at a time when rivals have diversified.
The group cut its full-year profit forecast as sales fell 11 percent in the first quarter, badly missing expectations, and underlying earnings dropped 19 percent, highlighting the need to find new sources of growth as multiple drug patents expire.
Its shares tumbled 5.8 percent by 1010 GMT.
AstraZeneca has recently stepped up its pace of deal-making, to bring in more promising new drugs from other companies, but Brennan, 58, has been under fire from investors for not acting sooner.
He will be replaced on an interim basis by Chief Financial Officer Simon Lowth, 50, while a permanent successor from inside or outside the company is found, AstraZeneca said on Thursday.
At the same time, Leif Johansson will succeed Louis Schweitzer as non-executive chairman on June 1 - three months earlier than planned - and will become chairman of the nomination and governance committee after the annual meeting later on Thursday.
By moving into his new job early, the former Volvo boss will take charge of the hunt for Brennan's replacement. Headhunters Spencer Stuart have been appointed to help with the search.
Brennan's exit sparked speculation of a change in strategy, but both he and Lowth told reporters AstraZeneca would not rush to change direction.
The company will continue to look for small bolt-on deals, worth up to the low single-digit billions of dollars, Brennan said. AstraZeneca has eschewed "transformational" deals.
Lowth said he looked forward to participating in an annual strategy review process with the board over the summer, adding that any investor updates on strategy were typically given alongside the next set of full-year results.
That may not be enough to satisfy some large shareholders.
"As yet, the company have not managed to convince the market that they have a plan for creating either good future growth or a rewarding plan B for coping with a lack of growth," said one top-five investor at AstraZeneca.
LOWEST MULTIPLE
AstraZeneca faces a slump in sales, following the loss of patent cover on antipsychotic Seroquel last month, while heartburn pill Nexium and its top-selling heart drug Crestor lose U.S. protection in 2014 and 2016, respectively.
It has few new drugs in development to replace these big sellers and its problems mean it trades on only around seven times this year's expected earnings, the lowest multiple for any major international drug company.
Brennan, an American who started out as a salesman for Merck & Co, has placated some shareholders in recent years by slashing costs, firing staff, and returning billions in share buybacks and dividends.
But the approach is not seen as sustainable in the long-term and recently some investors have called for him to go.
Setbacks for new drugs, including ones for depression and ovarian cancer, mean confidence in the group's ability to rejuvenate the pipeline internally is at rock bottom - and Brennan has a poor reputation for striking smart external deals.
His 2007 purchase of U.S. biotechnology company MedImmune for $15.6 billion was slammed at the time and has been criticized ever since for the high price paid and the scant pipeline rewards it yielded.
In the last few weeks, AstraZeneca has stepped up its deal-making again in a drive led by research head and ex-Pfizer executive Martin Mackay, with moves to buy gout drugmaker Ardea Biosciences for $1.26 billion and a collaboration with Amgen.
"After more than six years as Chief Executive Officer of this great company I have decided that now is the right time to step down and allow a new leader to take the reins," Brennan said, adding that he formally told the board on Wednesday.
SEROQUEL HIT COMING
Although the main hit from the loss of Seroquel is yet to come, group sales already fell 11 percent in the first three months, weighed down by wholesaler destocking of the drug, a tough year-ago comparison and generic competition for other drugs in Europe.
Bernstein analyst Tim Anderson summed up the results in an email headlined "Ouch!", noting that Crestor, Seroquel and Nexium sales were all below forecasts and the performance in nearly all geographies was weak.
Sales in the quarter were $7.35 billion, generating "core" earnings, which exclude certain items, down 19 percent at $1.81 a share.
Analysts, on average, had forecast sales in the quarter of $7.92 billion and earnings of $1.79 per share, according to Thomson Reuters I/B/E/S.
AstraZeneca cut its forecast for full-year core earnings to between $5.85 and $6.15 a share from $6.00-$6.30 previously and against $7.28 in 2011. It also said revenues in 2012 would fall by a low- to mid-teen percentage rate, after previously predicting a low double-digit rate.
(Additional reporting by Sinead Cruise; Editing by Chris Wickham and Sophie Walker)
MF4-I'm flattered by your praise. It is only fitting that we entertain ourselves here, considering the joke this investment has become. All attempts to remain serious, without a discourse involving executive replacement along the way, can only be done in vain. Even if the steady misfortune is entirely viewed as a broader issue, and mgmt is merely a victim of circumstance (laughable as it is), a rational mindset would still consider the potentially positive influence of new blood in leadership, however superficial it may be. Perceptions are reality. You'd expect smart people, for which there are a few on board (and on the BoD), would be more agreeable to a fresh set of eyes, in light of the appalling performance. As reality has it though, they are too dogged by there own insecurities, loyalties and arrogance. It's like a virus that doesn't go away, but should (unlike me, you, and others--a virus that some would like to go away, but shouldn't).
Sparky-It is pretty clear that existing mgmt took on their roles here to get, what they thought would be, easy money. They paid their dues via their BP careers, now it was time to kick back on auto-pilot and take care of the more simplistic administrative functions, while following the standard Biotech script. They are robots in their Cortex roles, sans one evident human trait: greed. That singular desire sits at the epicenter of their problems (and most of society's broader problems), and through a pretty organized storm, caused the unraveling that we have unfortunately witnessed, day after day, year after year, here and there.
The irony is a classic one for Cortex: The leaders of a company trying to advance 'smart drugs' have no viable focus or vision. We'd be better served if they were spearheading memory erasing drugs. We'd most likely be looking at the same fate though--not crossing the finishing line (or half way point, or even better, getting there and jogging back to the starting line)--thus leaving us longs 'longing for' our much needed mind erasing pill/elixir/injection...Different irony, same fate.
From the article I posted in #msg-74406619:
Cortex Obtains Exclusive Worldwide Rights for the Combination of AMPAKINE® and mGluR5 Compounds for the Treatment of Fragile X
IRVINE, CA (October 6, 2010) — Cortex Pharmaceuticals, Inc. (OTCBB (CORX)) announced that the rights to a published patent application entitled, “Pharmacological Modulation of Positive AMPA Receptor Modulator Effects on Neurotrophin Expression” (PCT/US2007/066947), has been licensed exclusively to Cortex from the University of California.
This broad method-of-use patent application covers the combined use of Ampakine compounds and metabotropic glutamate receptor type 5 (mGluR5) antagonists for the treatment of Fragile X syndrome, the most common genetically proven cause of autism, and for the treatment of Parkinson’s disease, Huntington’s disease and other neurodegenerative disorders. “Early clinical studies with mGluR5 antagonists have shown promising results in Fragile X patients, and in animal studies the combination of these agents with our Ampakine compounds provides additional benefit via synergistic effects. If these effects hold up in clinical studies, the combination of these agents could be an important treatment option for Fragile X patients,” commented Dr. Mark A. Varney, President and CEO of Cortex.
The inventors, Drs Julie Lauterborn, Christine Gall, and Gary Lynch, are neuroscientists at the University of California, Irvine (UCI). Cortex provided the Ampakine compounds and financial support for these studies. The same neuroscientists at UCI have previously demonstrated that brain derived neurotrophic factor (BDNF) alone, when injected into the brain, can restore some of the deficits that occur in a mouse model of Fragile X mice. However, BDNF would need to be injected directly into the brain to have an effect. The UCI investigators demonstrated that oral or injected Ampakine compounds can increase the production of BDNF in the brain in Fragile X mice, but when combined with an mGluR5 antagonist, these increases in BDNF were larger. “This also raises the question of whether other disorders in which BDNF plays a role, such as Parkinson’s or Huntington’s disease, might benefit from the Ampakine and mGluR5 antagonist combination,” said Dr. Varney.
About Fragile X
Fragile X is the most common genetic disorder causing mental retardation in children. The faulty gene inhibits the production of a protein called FMRP, which is responsible for keeping levels of other neuronal proteins in check. The excess of some proteins that results from the FMRP deficit impairs brain development and causes Fragile X. In 2000, ground breaking research performed by Professor Mark Bear, then at Brown University and a team of neuroscientists demonstrated that blocking the production of glutamate with an mGluR5 antagonist helped counterbalance the effects of reduced FMRP levels. Currently there are several clinical studies underway with mGluR5 antagonists to determine if these compounds can reduce symptoms associated with Fragile X.
Could there be a new 'lapportunity' beginning to sprout? I guess it depends on how long this johnboat can stay floating (virtually captainless) in the big bad ocean, or whether a worthy captain can be procured:
Glutamate Receptor Blockers Reverse Fragile X Symptoms in Mice
13 April 2012. Because neurons are postmitotic—unable to divide or regenerate once formed in the brain—scientists long believed that neurodevelopmental diseases were irreversible. Recent research began to challenge that thinking, and a mouse study in yesterday’s Neuron offers compelling evidence that Fragile X syndrome (FXS)—the most common inherited form of mental retardation—can be reversed well after symptoms have developed. A team led by Lothar Lindemann of Hoffman-La Roche in Basel, Switzerland, and Mark Bear of the Massachusetts Institute of Technology fixed a wide array of defects in adult FXS mice using a compound that blocks the mGlu5 form of metabotropic glutamate receptor. The findings lend hope for mGlu5 agents being tested in ongoing clinical trials of people with Fragile X and related brain disorders.
Afflicting one in 4,000 boys and about half as many girls, Fragile X syndrome arises from disruptions in a single X-chromosome gene, Fmr1, reducing expression of Fragile X mental retardation protein (FMRP). “Excess” characterizes many Fragile X features—among them excessive excitability, body growth, and synaptic connectivity. Many FXS symptoms have been linked to overactive mGlu5 receptors, which drive synthesis of synaptic proteins. That led Bear to propose that FMRP acts to suppress mGlu5-triggered protein synthesis. According to his theory, mGlu5 activity goes unfettered without FMRP, producing the diverse problems seen in Fragile X (Bear et al., 2004). A genetic study by Bear and colleagues supported this idea—Fmr1 knockout (KO) mice with only one copy of the Grm5 gene and half normal mGlu5 activity were spared a slew of abnormalities seen Fmr1 KO controls (ARF related news story on Dölen et al., 2007). While that work established proof of principle that dampening mGlu5 could prevent FX deficits, it did not show that they could be reversed later in life. Other groups improved symptoms in adult mouse and fly Fragile X models using a mGlu5 antagonist (MPEP) (Yan et al., 2005; ARF related news story on McBride et al., 2005), but it was only partial relief, and some animals developed tolerance to the compound. The current paper shows “we can intervene pharmacologically after symptom onset and correct many aspects of Fragile X,” Bear told ARF.
Led by co-first authors Aubin Michalon of Roche and Michael Sidorov of MIT, the researchers treated Fmr1 knockout mice with a different mGlu5 blocker, a pyridine derivative called CTEP (Lindemann et al., 2011). Though discovered at Roche, CTEP is not being developed by the company as a human drug, but “has ideal properties for studies in rodents,” Lindemann said. The compound not only has great pharmacokinetics and oral bioavailability, but also is considerably more potent and long-lasting than commercially available mGlu5 inhibitors, for example, MPEP and another Roche compound, fenobam (Porter et al., 2005). In mouse studies, those molecules need to be given four to five times a day because their half-life is a mere hour or two. By comparison, CTEP acts for about 18 hours, allowing researchers to see some symptoms improve in Fmr1 knockout mice after just a single subcutaneous dose (2 mg/kg body weight). For chronic dosing experiments, the mice were given this amount of the inhibitor every other day for four to 17 weeks.
With the exception of macroorchidism (medical speak for enlarged testes), which was only partially rescued, all nine phenotypes analyzed in the study returned to normal with CTEP treatment. Fmr1-deficient mice become startled easily and have trouble acclimating to their environment. They also have problems remembering where danger signals (e.g., foot shocks) are. CTEP rescued these behavioral deficits. Fmr1 knockout mice respond to loud noise with seizures, and have exaggerated hippocampal long-term depression. These, too, were fully corrected by the compound. Moreover, CTEP restored the elevated spine density and protein synthesis rates to normal, and abolished hyperactive ERK kinase and mTOR signaling typically seen in Fmr1 knockouts.
“This article demonstrates that the kind of therapeutic intervention we can realistically implement in patients is extraordinarily effective in reversing the major Fragile X phenotypes at cellular, synaptic, neural circuit, and behavioral levels,” noted Michael Tranfaglia of FRAXA Research Foundation, which funds Fragile X research (see full comment below).
Before the current paper came out, Roche and several other companies had begun developing mGlu5 inhibitors for Fragile X. Roche completed a six-week Phase 2 trial of its compound, R04917523, but results have not been reported. “I am unfortunately unable to disclose data,” Lindemann noted. “We can say, though, that the data obtained so far support continuation of the clinical development of the molecule.” A larger, 12-week Phase 2 study is in the works, with recruitment to begin “any day,” Lindemann said.
Seaside Therapeutics, Inc., of Cambridge, Massachusetts, a company Bear co-founded in 2005, has several Fragile X compounds in its clinical pipeline. One of them—a mGluR antagonist (STX107) licensed from Merck—survived Phase 1 but has languished on the backburner while the company pours resources into another compound—a GABA B receptor agonist (STX209). By ramping up inhibitory activity, this molecule achieves the same effect as mGlu5 blockers—diminished glutamate receptor signaling—but has a faster path to regulatory approval, Bear told ARF. It is the active enantiomer of a drug (racemic baclofen) already in use for cerebral palsy and gastroesophageal reflux. The company reported at meetings that the GABA B agonist improved several global measures in an open-label Phase 2 study of autistic patients (see news release). In the Fragile X Phase 2 trial, the compound showed some benefit in participants with severe social avoidance (see news release). Recruitment is underway for a Phase 3 trial of the GABA B agonist in children with Fragile X syndrome.
But the frontrunner may be Novartis’ AFQ056, which has headed into Phase 3 testing. In a Phase 2 trial of 30 men with FXS, the mGlu5 blocker seemed to help a subset of participants with strong Fmr1 gene silencing (Jacquemont et al., 2011).
Might the present findings apply to neurodegenerative disease? Conceptually, it may be hard to see a connection, because in Alzheimer’s and Parkinson’s, for example, neurodegeneration occurs in discrete brain regions, whereas Fragile X deficits are widespread and primarily synaptic, noted Gül Dölen, now at Stanford University, California, but who obtained her Ph.D. under Bear. Still, there is some evidence that these disparate disorders could share molecular underpinnings. APP translation appears to be regulated by Fmr1 through mGlu receptors (see Westmark and Malter, 2007 and ARF Webinar), and people with Fragile X have unusually high brain Aß levels (see Malter et al., 2010). On the clinical front, Novartis’ mGlu5 antagonist looked promising for PD patients who have developed dyskinesias as a side effect of dopamine-boosting drugs (Berg et al., 2011). Excess glutamate has been blamed for these disabling motor problems, and a drug (amantadine) that blocks glutamate signaling through AMPA receptors is currently used to treat PD patients with dyskinesias.—Esther Landhuis.
Reference:
Michalon A, Sidorov M, Ballard TM, Ozmen L, Spooren W, Wettstein JG, Jaeschke G, Bear MF, Lindemann L. Chronic Pharmacological mGlu5 Inhibition Corrects Fragile X in Adult Mice. Neuron. 12 April 2012;74:49-56.
How intriguing it is, how we learn of Street's departure...and the subsequent explanation (lol). Muted indeed on both accounts! This is a wonderful time to point out the hypocrisy of those who accuse others of acute 20/20 hindsight and Monday morning quarterbacking (in this instance, of the 'winning' team, lol). Yes, winning: mgmt timed the departure just right. Street was probably absolutely essential up to now. Right on guys. They borrowed a page right out of Charlie Sheen's bio, lol. It's funny how the 'in-the-know' choose to right the script. In my befuddled mind on the other hand, I'm surprised that all the failures haven't caused a change in course in the established mindset yet. Very sad. Wouldn't you say alert/sparky?
Gfp-Right on. Why is Stoll here? I can't think of a more useless/wasteful expenditure of company funds.
Keep pouring salt on the wounds Team Cortex--what doesn't kill us makes us stronger.
Yes...they are busy, and I have the video to prove it:
MFest--That is nothing but an eggcuse :) If Cortex worked smart and hard, they would not have to pull a bunny out of a hat, which is their only option now. Let me give you one recent example which contradicts your theory: Corcept Therapeutics.
Btw-However corrupt you consider this country to be (and I don't necessarily disagree with you on the concept), it only gets more prevalent and more extreme once you step onto foreign turf. Good luck finding utopia anywhere. You'd be far more likely to find a golden egg under the reigning Corx BOD inept fat asses, and that is a long, long, shot, as we all can see.
If you are very talented and focused, I believe it (peace/utopia) can be discovered, but for that, you must dig deep inside your own mind and soul.
Happy whatever...
Thank you for your input Sparky. Good work. What makes your post(s) meaningful is that it provides the other side of a heavily biased perspective. It is not all doom and gloom as the other poster posits (It exists, yes, but it is used here, ad nauseam, to perpetuate a singular agenda: to protect and preserve an inept mgmt). More importantly, your remark suggests that management may be a major contributing factor to this company's troubles, to which I couldn't agree more.
The other side would have you believe that management is merely an administrative role player in the company operation, whose success is predicated by either macro/industry trends or late stage scientific data which caters to those trends; whose punctuality in results relies only on vacations of researchers; whose trials can only be completed if the coordinator doesn't die; whose salaries/options are acceptable based on how they stack up to industry 'peers' (and I say that word loosely), regardless of YOY stock performance and drug advancement. Their interests are aligned with that of a cattle farmer, and their results consistent with the subsequent slaughter of the bovines, one by one. They only have a couple left.
At last, when it is over, it will be our time to roast the pigs and feast! Ham, bacon anyone?
I can see it now...
The Story of Cortex: From Corx to Pork (alternative subtitle: From Cor to Poor)
Ps. This is figurative: I am not an advocate of heavy meat consumption. I also don't condone the consuming of pork derived from mgmnt--I believe it is tainted :)
ACADIA Pharmaceuticals Awarded New Grant from The Michael J. Fox Foundation for Development of Nurr1-RXR Selective Agonists to Treat Parkinson's Disease
{FWIW-The original grant was received in Nov, 2010--4 months after Corx inked their research collaboration with MJFF}:
SAN DIEGO, Mar 27, 2012 (BUSINESS WIRE) --ACADIA Pharmaceuticals Inc. (Nasdaq: ACAD), a biopharmaceutical company focused on innovative treatments that address unmet medical needs in neurological and related central nervous system disorders, today announced that it has been awarded a new grant from The Michael J. Fox Foundation (MJFF) for the further development of Nurr1-RXR selective agonists for the treatment of Parkinson's disease. The grant of $322,000 is a supplemental award to expand on promising initial research conducted by ACADIA under an earlier grant from MJFF. The initial grant was made under the Foundation's Therapeutics Development Initiative (TDI) aimed at supporting preclinical development of Parkinson's disease therapies that have the potential for fundamentally altering disease course and improving treatment of symptoms above and beyond current standards of care. The new grant has been awarded to expand upon the work originally awarded through the TDI program.
"Our Foundation is devoted to finding a disease-modifying treatment to halt the progression of Parkinson's, the major unmet need for those living with the disease today," said Jamie Eberling, Ph.D., associate director of research programs at MJFF. "Data from ACADIA's initial experiments targeting Nurr1 have been encouraging to this end."
Parkinson's disease results from a progressive loss of brain cells that produce dopaminergic neurons. Scientific evidence suggests that Nurr1, a nuclear hormone receptor, plays a critical role in the growth, maintenance and survival of dopaminergic neurons. Scientists at ACADIA discovered compounds that selectively activate Nurr1-RXR complexes and promote viability of dopamine-containing neurons. In early research, these compounds were effective in restoring motor function and neuronal health in preclinical models of Parkinson's disease. Future efforts will focus on further studies of the therapeutic potential and pharmacokinetics of Nurr1-RXR selective agonists.
"We are excited to expand on the promising research findings in our Nurr1 program through the support of The Michael J. Fox Foundation," said Uli Hacksell, Ph.D., Chief Executive Officer of ACADIA. "We remain committed to advancing innovative therapeutic approaches that have the potential to improve the quality of life of patients suffering from Parkinson's disease and related neurological disorders."
About Parkinson's Disease
Parkinson's disease is a chronic and progressive neurological disorder that is characterized by well-known motor symptoms including tremors, limb stiffness, slowness of movements, and difficulties with posture and balance, as well as by non-motor symptoms. Parkinson's disease is the second most common neurological disorder and about one million people in the United States, and from four to six million people worldwide, suffer from this disease. Parkinson's disease is more common in people over 60 years of age and its prevalence is expected to increase significantly as the average age of the population increases.
About ACADIA Pharmaceuticals
ACADIA is a biopharmaceutical company focused on innovative treatments that address unmet medical needs in neurological and related central nervous system disorders. ACADIA has four product candidates in clinical development led by pimavanserin, which is in Phase III development as a potential first-in-class treatment for Parkinson's disease psychosis. ACADIA's other clinical-stage products include collaborative programs for chronic pain and glaucoma with Allergan, Inc. and a collaborative program for schizophrenia with Meiji Seika Pharma Co., Ltd. In addition, ACADIA has preclinical programs directed at Parkinson's disease and other neurological disorders. All of ACADIA's product candidates are small molecules that emanate from discoveries made using its proprietary drug discovery platform. ACADIA maintains a website at www.acadia-pharm.com to which ACADIA regularly posts copies of its press releases as well as additional information and through which interested parties can subscribe to receive e-mail alerts.
About The Michael J. Fox Foundation
The Michael J. Fox Foundation is dedicated to finding a cure for Parkinson's disease through an aggressively funded research agenda and to ensuring the development of improved therapies for those living with Parkinson's today. In addition to funding more than $285 million in research to date, the Foundation has fundamentally altered the trajectory of progress toward a cure. For more information, visit www.michaeljfox.org.
Gfp-I just came across this, but time is of the essence (an online bridge session with Bob Weir):
http://music.yahoo.com/programs/bob-weir-the-national-cover-grateful-dead/
Gfp-Act quickly--25minutes to go (an intimate concert with Bob Weir):
http://www.yahoo.com/_ylt=AvSLarHyj7rH5zcyczGQJrWbvZx4;_ylu=X3oDMTJzajUydHZvBGcDaWQtMjA3ODI1OARpbnRsA3VzBG1wb3MDMTAxBHBrZ3QDNwRwa2d2AzI3BHBvcwMyBHNlYwN0ZC1vZmwEc2xrA3RpdGxlBHRlc3QDNzAxBHdvZQMyNTE3NTIx/SIG=12u1slk3t/EXP=1332722083/**http%3A//music.yahoo.com/programs/bob-weir-the-national-cover-grateful-dead/
OT-Yes indeed, justice has been served--hopefully 30 years of it (personally, I don't think he'll last ten):
Polo magnate Goodman found guilty in DUI manslaughter case
http://www.sun-sentinel.com/news/palm-beach/fl-john-goodman-polo-magnate-trial-day12-20120323,0,979252.story?page=1
By Peter Franceschina and Alexia Campbell, Sun Sentinel
7:57 p.m. EDT, March 23, 2012
Wellington polo mogul John Goodman was convicted of DUI-manslaughter and vehicular homicide Friday after 5 1/2 hours of deliberations and immediately taken into custody and transferred to the Palm Beach County Jail.
Goodman, 48, showed little emotion except for a grimace that flashed across his face. He now faces up to 30 years in prison.
For the family of Scott Wilson, 23, killed in the February 2010 crash, the swift verdict brought some measure of relief.
Surveillance Video: Check out these videos of crimes caught on camera
"I will always remember my son. I will always share some memories," a tearful Lili Wilson said outside the courtroom. "This is the time for the healing to begin."
"No one should outlive his child," William Wilson said in a statement. "It's painful and horrific to lose a child in a senseless and preventable motor vehicle accident. I have lost my best friend."
Lead prosecutor Ellen Roberts and Lili Wilson embraced outside the courtroom, and then Roberts spoke to reporters outside the courthouse.
"I think justice was served," she said, before thanking the five men and one woman of the jury. "Thank you for seeing that justice was done."
Roberts asked that Goodman immediately be locked up, but Miami defense attorney Roy Black told Palm Beach Circuit Judge Jeffrey Colbath that Goodman was neither a flight risk — he surrendered his passport after his May 2010 arrest — nor a danger to the community, and that he had met all conditions of his bond, including random alcohol and drug testing.
Colbath ordered Goodman taken into custody, and bailiffs led him out a side door of the courtroom minutes after the verdict. There were tears among his extended family and friends.
Goodman will remain locked up for at least a month, until his April 30 sentencing. His attorneys, who immediately vowed to appeal the convictions, could ask the judge to release Goodman on an appellate bond.
As reporters were talking to Scott Wilson's parents in the courtroom hallway, Black slipped by and got into an elevator by himself. "I'm not going to make any comment, thanks," he said.
His spokesman later issued a statement:
"It is our belief that multiple errors were committed during and before the trial that, in effect, denied our client's ability to get a fair trial. We intend to file an appeal so that our client can receive the just and fair proceeding to which he is entitled by law."
Jurors outright rejected critical elements of the defense, including that Goodman, after leaving the scene of the crash, made his way to a nearby barn owned by polo player Kris Kampsen, who described his office there as his "man cave" where he kept several bottles of liquor.
Goodman testified he slugged back the alcohol to alleviate the pain of his broken wrist. Three hours after the crash Goodman's blood-alcohol level was measured at .177 percent, more than twice the legal limit.
"We didn't believe that he was in the 'man cave.' There was no proof that he was in the 'man cave,'" juror Dennis DeMartin, 68, said Friday while riding Tri-Rail home after the deliberations.
What sealed the guilty verdict for jurors was the fact that Goodman's blood-alcohol content was above the legal limit to drive, and he admitted to having a few drinks before getting behind the wheel and then driving through a stop sign.
"We just had to go with the facts," said DeMartin, a retired accountant from Delray Beach.
The verdict represents a dramatic reversal of fortunes for Goodman, an heir to a vast Texas air conditioning and heating fortune. He is a well-known figure in polo circles, and the founder of Polo Club International Palm Beach. His privileged life included living in a $6 million Wellington mansion on 80 acres with elaborate horse stables.
He was frequently chauffeured in his Bentley convertible, but not on the evening of Feb. 11, 2010, when he attended a celebrity-bartender charity event at the White Horse Tavern and then moved on to the Players Club, two Wellington watering holes that cater to the polo set.
Prosecutors were able to positively establish only that witnesses saw Goodman have four drinks that night, a vodka tonic at the White Horse and two shots of tequila and another vodka tonic at the Players Club. But, they argued, he had to have had much more to drink in order to reach such a high concentration of alcohol in his system.
After leaving the Players Club shortly before 1 a.m., Goodman drove his Bentley south on 120th Avenue – past his home and stables – and blew through a stop sign at the intersection of Lake Worth Road at 63 mph, according to the lead Palm Beach County sheriff's traffic-homicide investigator.
His Bentley broadsided Wilson's Hyundai, causing tremendous damage, and shoved it across the intersection and flipped it upside down into a canal. Wilson drowned, and Goodman left the scene.
"He literally pushed that little car into a canal and then he just walked away," Roberts said.
Goodman testified that the Bentley surged out of control as he tried to stop, and the defense presented an expert who said the Bentley's throttles stuck open moments before the crash. Goodman told jurors he suffered a concussion, and didn't see anyone else — or Wilson's car in the canal — after the crash.
Jurors did not believe Goodman had a concussion or that the Bentley malfunctioned, DeMartin said.
And the defense's car-crash expert talked "in circles" without lending much credibility to the idea that the Bentley sped forward out of control.
"That was another story they concocted," DeMartin said.
Roberts also said she believed jurors saw through the defense and the testimony of their experts. "They just weren't real credible. Some of the theories were pretty bizarre."
The defense, in closing arguments, accused prosecutors of putting Goodman's wealth on trial, coloring the jurors' view of him.
Roberts disagreed.
"I don't think it's about that. I think it's about driving when you shouldn't be driving," she said. "This is no different from Paul the plumber."
Roberts said she would consult with William and Lili Wilson before determining the length of the prison sentence she will seek. The judge has wide latitude in imposing Goodman's punishment.
Jurors reached their verdict shortly after asking to hear the four 911 calls made in the case, including Goodman's, an hour after the crash. He told the dispatcher that he knew he hit something, but didn't know what, and repeatedly asked, "Is everybody OK?"
It was clear to jurors that Goodman fled the scene and didn't render aid to Wilson, DeMartin said, because he first called an employee and then his girlfriend before he called 911.
"We felt he evaded his responsibility," he said.
pfranceschina@tribune.com or 561-243-6605, Twitter @pfranceschina
I don't think there is a deadline on what he has to do, and the deadline on what should have been done was due in the midst of the Stollfuck era (Stoll and roses for all you pollyannas). They have had so many last chances it just sounds ridiculous to impart another (i.e, a timeframe). If they don't realize how lousy they are now, or don't step-up with this precious introspection, then my expectations are very low that they ever will. Perhaps they can do the vogue thing and change their name.
I do agree with you on most everything else though, it is quite the realistic stance. The era of discortex should cease and desist. Spring training is winding down, time to step up to the plate and quit stalling...once again.
Gfp-Do you guys have monkey balls in Philly? In Northern Delaware, I remember plenty of those big green sappy seeds.
Anyway, that is what Cortex needs: Monkey Balls.
Whoever has the biggest balls will do, even if their name is 'Beth':)
In a fictional world, Targacept's predicament would make them a perfect fit for Cortex. Little deBethizy (had to start the sentence off with a capital, lol) wants to consider in-licensing the following compounds: non-CNS, non-subjective (re: clinical trial outcome), and limited competition. Does anybody on this board have any idea what Cortex science can offer them (hint: It involves UofAlberta)? They can even stay true to there respective CNS and ADHD roots and priorities.
I do believe I can live with Ampakines being controlled by Targacept's hands. They have the two fundamental things Corx doesn't: Money and management.
Tonight, I pray...:)