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I found this rant posted by "valiumgirl4" over at the YAHOO board, I found it to be a bit compelling...any comments? It might create some discussion here being that there appears to be a lack of one.
>>Roger's milestones are all based on his need to have a plan where they'll be able to accomplish something before they run out of money.
How the heck can he start Phase 1 for RD if they're not sure what type of drug overdose they want to target? Davidal said he has no room for the inevitable "slippage." Well, that is certainly true. So consider the FACT that Phase 1 trials in humans can only commence after the FDA *accepts* the IND application. And we all know how well Mr. Roger did with ADHD. With the FDA letter lost in the mail, Roger is too meek to ask them to fax or FedEx it to him. So what are the odds he'll do any better with RD?
Is the absence of Shire a factor?
Here we are in Q4 and Roger wants to give some money to some Brits to test CX-717 on humans for RD to see if it works in humans like it worked with rats. Someone needs to tell Roger that he needs to be able to talk to the FDA if he wants to file more INDs. If he's too timid to ask them to resend that letter to him, he won't make any headway whatsoever. Although some think the drug approval process is akin to winning at a slot machine, http://www.newstarget.com/019987.html , it's much more complicated. Here is a brief synopsis: http://www.fdareview.org/approval_proces...
The first step towards getting FDA approval is the filing of the IND application, which is described here:
http://www.fda.gov/cder/regulatory/appli...
Reading about the inept doings here reminds me of Alice in Wonderland. Propofol ?!?!??????
Ask any doctor or nurse and they'll tell you that the clearly predominant cause of treatable respiratory depression is the result of opioids, either inadvertent to prudent medical treatment or the result of intentional or accidental overdose.
So now propofol is on a list of ten? Sheesh! Don't hold your breath! Pun unintentional.
Here. Just read these articles from several places reprting succes with at least two commonly available dopamine (D1) agonists (e.g. forskolin: http://en.wikipedia.org/wiki/Forskolin , available to anyone here http://bodybuilding.com/store/fors.html ) in cats as an alternative to the current standard practice of using mu antagonists like naloxone.
http://www.pubmedcentral.nih.gov/article...
http://ajpregu.physiology.org/cgi/conten...
http://ajpregu.physiology.org/cgi/reprin...
If someone is turning blue from opioid OD, naloxone will get them breathing but they'll be in distress from withdrawals, or abstinence syndrome. Using the mixed agonist-antagonist nalbuphine was reported as being largely successful here, with the advantage over naloxone of preserving some measure of pain relief (antinociception):
http://www.cja-jca.org/cgi/reprint/37/7/...
Anyway, someone ought to tell Mr. Roger that dopamine agonists are further along than his dream of using ampakines. CX-717 reversed RD in rats. Yawn.
Don't think that just because RD is (usually) an acute indication that the histpathology results that killed CX-717 at Psychiatry won't be resurrected. Why would FDA allow a "brain tissue destroying" drug to be used for an indication where doctors are perfectly happy to give the patients naloxone. So what if the patient is uncomfortable? Does anyone with a brain really think that this drug has a chance of replacing naloxone for RD?
Look at these articles and then do some Googleing on
keywords.<<
This is her response to a contrary opion of her statement above:
>>Oh, really?
What kind of experimental design for for RD could they use in humans which would get approval from an IRB?
If you bothered to read the studies about dopamine used to stimulat cAMP, the highest mammal they have used so far for these studies is the cat. The D(sub)1/cAMP approach would have been tried in monkeys by now if they figured out a way to make it an ethical experiment for primates. DARPA could easily afford to do primate studies.
There have not been any studies with primates to corroborate the fentanyl OD results obtained with cats in both U.S. and Germany (provided).
There is no clinical trial in the U.K. recruiting RD subjects. Rogers has been mistakenly thinking they have to winnow out one indication from ten he's dreamed up. That itself indicates he is lying about their progress.
Here we are in November and Rogers hasn't figured out the fentanyl is the drug they need to use to induce RD so that they can see if it can be reversed with an ampakine.
Without knowing the OD drug, it would be impossible to design an experiment. Without a design, they can't submit it for approval. They need to have it all approved by both FDA and an FDA-recognized IRB if they want the study results to count towards a future NDA application. That takes months.
How could SAFELY induce (and reverse) the RD in these Phase 1 "healthy (but poor) volunteers"? And is this U.K. trial listed at clinicaltrials.gov? No? Oh, how convenient, it's not in U.S. Can you find it on a U.K. website? Can you find a CRO trying to recruit the subjects?
One of the stocks i follow is PTIE. They have a similar situation involving an opioid clinical trial for their Oxytrex. Almost a year ago they announced what they called the "Extreme Study" Mr. Barbier (CEO) keeps telling investors that the study is proceeding slower than expected because of the difficulty in recruiting human subjects who suffer chronic pain and are dependent on oxycodone who are willing to endure the "torture" of medically supervised rapid detox using high doses of naloxone to trigger full withdrawals for an hour or two while hooked up to machines to monitor their vitals with people standing by to catch their vomit and diarrhea so the quantities can be measured.
How much money would you want if a CRO wanted to recruit you for a P1 study where RD would be induced ... and hopefully successfully reversed before you suffered brain damage?
If they're so sure they're doing P1 on humans in Q1, they would have already had their design finalized, which means that propofol would not have been mentioned. The design can't be finalized unless all the details are worked out and approved by an IRB. If Rogers mistakenly believes that he has to pick from ten different possible types of RD causes, he's a buffoon, because if he spent five minutes with Google he'd learn that opioids are at the top of the list, with no second contender outside of anesthetic agents administered during surgery with all the life support equipment and personnel available in operating rooms.
As far as your confidence that these studies WILL begin in the U.K. in Q1, what evidence do you have for that apart from the same "letter is in the mail, but i'm afraid to ask them to fax it" Mr. Rogers? <<
There cetainly appear to valid points here, particularly pertaining to the RD study and timeline.
At this point, I may take the time to learn. It will seem with all of my money tied up in COR I will have nothing but time.
I did notice your inane ability to disect his methodology...it does hold water. I am still speculative until I understand more, however, with 90% of the congnitive portion of my brain consumed by the thought of my idiotic, overly greedy, wager in COR, I doubt I would be able to focus long enough to make sense of anything at this point. Where do you sign up for CX-701 trials....I am in need.
<<My GOD, how aren't others on this board as pissed off as I am to have someone peddling such horse sh*t..!! >>
I think most choose to ignore him while others briefly addressed his concept due to lucky timing, either way he will be gone soon. He probably strives on your conviction to defeat his theories. My choice is to read over his posts like the marriages in my local paper....worthless information to me but nonetheless important to some.
Freto aside, I fear our large sick investment will not be getting out of ICU anytime soon. I was unrealistically praying for a carrot or hint of a buyout today. I really want to move on. I've never been this consumed by a stock, it is truly distracting me from all that is important. We will have to wait on our very large sum of money for many months with moderate hope. I'd feel better dropping a 100K on a football game at this point. Like a band-aide, just get it over with. I just don't like our odds. We will be stuck with at least 3 more months of repetative daily speculation, false hopes, and post-mortem dreams. It's a shame the dynamic possibilities of ampakines have driven me to prozac.
The only way one would be lucky enough to regain COR losses is to sell now and buy back twice as many shares a month or two from now. I don't have those kind of nads so I will hold, but seriously, there is no reason this stock should rise near term...none. We will obviously drift lower on very weak volume until a genuine milestone approaches. Patience should reward longs if all goes well, but I will go out on a very short limb and say that this is dead money until Q1 '08, I don't give a crap what the chart says. If Freto is right, I will eat crow. If he is wrong, maybe he takes his losses and goes away. A win/win, I love crow! Pure and simple, this is an event driven stock with no near term events to speak of. Charting has it's place, this is not it.
Maybe I sell my now 160K shares of COR and buy 150 shares of GOOG. Sadly that would probably offer me far better year end returns...but again no nads.
Thanks. Sorry for the lack of retention, I do recall that post, thought maybe, however, that you may have seen things slightly different today. Thanks again.
I guess I am looking at this different than others as well, your interpretations seem feasible...however point blank, does COR have enough money to inspire BP interest by the end of '08 or do you see further dilution? My unfortunate interest here strictly pertains to SP improvement, shortterm appears improbable, longterm(1-2 years)? Again, where will the money come from? Will any of your indications offer SP inflation with opportune financing or upfronts?
No short term offerings. A completely unenthused attitude. I am neverous as ever as an investor. So much for the carrot or rallying the troops. We are sure to drift south. Dilution is probably next before any spikes occur. I sure hope I am wrong about the 1 for 10, but this looks bleak from an investor standpoint.
Thanks Neuro. If the list of examples is indeed that short then I stand corrected and I am now having an easier time interpretting your recent pre-rejection guidence. Certainly with so few cases, a plan set forth for an outright rejection was probably not as likely as maybe preparing for other scenarios. This offers me some clarity as to Stoll's delay and some acceptance of unanticipated reaction. The more I learn the dumber I seem. This bio thing is a humbling game.
Neuro,
I would expect that you may know this. I was speculating without research. But I am certain many others have suffered COR's recent fate, therefore a chronilogical history of events must be publicly available regarding other rejections. If the historical rejections are consistent then presumptions can be made, presumptions regarding the letter. And if indeed presumptions can be made then it was Stoll's responsibilty to attain that information and develop an action based on that information. Again, just my assumptions which I think you would agree with. I may be completely wrong however.
I am equally having just as hard of a time believing the posts relating to the personal level gripes of the FDA, regarding ex-employees and Lynch, as others here seem to believe are possible. Is the FDA truly that trite? I am a virgin BIO investor, therefore these recent experiences with COR and the FDA are my first. I do not attempt to insinuate that I know the workings within the FDA.
If the FDA's lack of timely response were expected to be delayed, again a procedure which is probably consistent, then Stoll should have known this and done the PR immediately after the rejection. This would have created the dead cat bounce and sustained higher share price levels back in the October 12th-15th range. That is all, as a shareholder, I was looking for. Although Stoll's efforts lack in this area, it is his responsibility to perform these little dances to benefit shareholder value.....an immediate response would have sustained investor confidence in that we would have been given the opportunity to believe aggresive contigent plans were indeed in place. The uncertainty surrounding the delay created an unstable bottom in the SP. Stoll could have controlled this with the same words he used today.
You got to admit the National Geo article should spawn plenty of new interest. Good timing. A small carrot but a carrot none the less. It will be interesting to see how COR is portrayed and projected.
Naked, it must be hard to maintain your position of a scam when investigative journalists, who are willing to expose and do invasive articles on such, are willing to feature COR, in a light that is entirely different....a pioneer in memory enhacement therapies.
JH cutting Stoll some slack. Impressive. We will continue to deteriorate until some sort of hope is offered short term or long. That is all I am looking for at his point. Letting us know that he is concerned and indeed putting together or already has together a comprehensive plan to move forward on a expediated state to insure us of the unnecessary need for financing near term. Otherwise, the R&R price target is looking more accurate sooner than later. What hope of a bounce can we expect if we cannot sustain these levels. Give us something.
If no short term solution exists my prediction is a 1 for 10 reverse stock split followed by another pipe. This will ensure COR has the cash for a few more years of research allowing Stoll to finish his years out at the COR helm collecting on his retirement package. He is over 60 after all.
My hopes is that a buyout occurs soon at or above $1.50, otherwise I fear this is dead money for many years. I would much rather take what I can at this point than play the wait and see game for 2 more years with hopes that the FDA changed their self serving ways. Certainly Tech is hot right now and might offer many opportunities to recoupe the dollars from this mindnumbing debacle.
Does anyone here know of similar circumstances in COR's history that has allowed them to pull them from the depths of dispair. If indeed COR has been here before, which I believe they have, then history may repeat itself with the offering of another carrot and an SP bounce. I know COR was in more deperate times years ago. Are we taking it harder today because we were more visible on the radar and the negative binary created a much broader scale sell off? Or were the hopes of CX717 just that vital...that it's rejection affects the entire ampakine platform?
Aiming,
I am surprised he responded to you so quickly...you must be in his circle of five. Either way thanks for the affirmation although "won't be long" could mean anything based on the recent pace of COR's compound developmemnt. I will again attempt to wait patiently. Thanks for your efforts.
Agreed. Thanks. It would be nice to know how soon we should expect to be briefed. If it is another 30 days or longer l'd expect further SP deterioration.
If time is indeed what is necessary at this point, do you believe that we will see a conference call by month end. I did not, nor do I expect knee jerk executive decisions to be made but I would have thought by now a a contigent offering of some kind would have been made. Maybe something along the lines of:
"We were aniticipating a possible rejection from pysch inlue of the recent changes to the environment of which new drugs are reviewed and cleared. With that said we are continuing our efforts in A, B, C, and D to further explore the advance of other compounds and BP interest going forward creating increased share holder value and stability. Cortex has many options etc. etc. etc."
That may have been short term smoke and mirrors but would of satisfied me knowing that management has extreme interest in communicating with shareholders during times such as these and not waiting for the dust to completely settle.
If it is so apparent and obvious as to the misgivings of management at this critical time then why the hell aren't more shareholders throwing stones to create a reaction. How much heat can one man take before he fires back. Come on Stoll, give us your best shot, it undoubtedly will be scrutinized to death but let's get over with.
<<The issue of the letter getting lossed en-route to Irvine seems almost laughable. And how would the contents of letter change the contents of a conferance call?>>
Agreed. Certainly a plan was in place in fear of rejection. Why not have a conference call immediately to discuss that plan and settle the troops, also indicating that we will be discussing the unfavorable outcome of the recent CX-717 psych rejection at a future time during which the details of that decision will be revealed and our opinion of as internally interpreted.
Furthermore, you would have to believe that documents of that nature certainly would be expedited to give the company in question an immediate opportunity to perform damage control.
This no news scenario to shareholders has to, in everyone's mind, create substantial doubt as to the integrity and confidence of Stoll's ability to execute a plan going forward. I always hate to see change at this level, given the fact that he should have learned a great deal as of late and can apply these experiences going forward, but I think it is time to find someone who will more aggresively seek deals and maybe take cetain compounds abroad in a less scrutinized and political environment. It has to be about increasing shareholder value and confidence at this point. To wait two years for possible compound progression and BP interest again would be inhumane.
<<Dr. Stoll also mentioned during his presentation that the FDA had just issued a notice that will require that all current manufacturers of ADHD drugs issue Patient Medication Guides that spell out the risks of the current medications with respect to cardiovascular and psychiatric adverse events observed with the currently approved therapies.>>
Obvious new and unprecendented guidlines have been set forth making our liklihood of proceeding through psych an unlikely one unless of course Stoll knew of and did address all new variables set forth. His awareness, although suspect, does unfortunately point us to a paranoind psych division theory. A no win situation which was probably to late to be avoided. The hold killed our AD/BP interest, financing could have been done at higher levels with tight windows therefore unprobable, and confidence of a post mortem artifact forced Stoll to push forward. Neurology approval certainly verified his confidence. But then, the pipe/financing being done at poor terms does show uncertainty. This creates doubt as to how confident Stoll really was.
<<Stoll noted that the potential for a new therapeutic approach to the treatment of ADHD is clear>>
If clear there should be no excuse for mistakes or underprepared data.
<<Dr. Stoll reiterated that the 3-week study in adult ADHD patients randomized to either CX717 or placebo, in a cross-over design, was both clinically and statistically significant on both decreasing hyperactivity and increasing attention on the primary ADHD rating scale which is the primary measure by which all ADHD products are approved.>>
Again, if true, pointing to a paranoid psych theory.
<<The remaining topics covered by Dr. Stoll included an update on the low-impact Ampakine CX701 which Cortex anticipates commencing clinical trials by July 2007, the likelihood of a new research and development collaboration for its high-impact Ampakine compounds, and the in-licensing of a new Phase II non- Ampakine orphan drug.>>
It appears inlicensing will undoubtedly be part of the conference call as a short tem cash solution.
Regarding the rejection, is it not the FDA's responsibility to provide the detailed information, i.e. the letter, regarding the rejection in a more expeditious manner. Here we sit, our company investments in turmoil and no news. It takes 30 days to review X amount of data, does it also take 30 days to write a letter sealing our current fate. Certainly, in a make or break case like COR's, time and money appear vital and forcing us to play the wait and see game even further just seems a bit cocky and bullyish. How do you, me, management, anyone react to something without reason unless Stoll is just taking this opportunity here to buy a little time.
In other's words' seeing as psych already knew, well before the data had arrived, that the rejection was imminent one would think the letter would have been stamped and in the "outbox" well before Oct. 11th.
Thanks Aiming, that does satisfy me at this point. If they were indeed as aggressive with BP as you state and the windows of opportunity for financing were indeed 3/4 closed then I repent.
I do feel however, that Dr. Stoll and management should weigh in with stronger efforts towards getting deals done. Know the terrain of which you play. Had there never existed a hold on CX717 would the FDA psych division still have shot it down? What then were the probabilities of this? If the probability was 50/50 then management should have made different decisions. I don't know what those decisions would have been and can only speculate but certainly, in the Bio arena, timing is everything and you have to admit Stoll may have sealed COR's fate by means of his lackluster efforts. Even through the smallest of windows, deals benifitting a fragile COR must get done.
Every now and again it would be nice to see efforts being made solely for the benefit of the shareholders rather than management. Pay for performance rather than inflated wages and compensation packages. That is how I rate the success of a good management team. There in lies the my remaining distrust with management. My pockets are empty and their's are full and lined with gold stitch.
That's enough, I am sick of speculating and back lashing. I will wait for the conference call. Let us just hope that history does not again repeat itself and there is indeed a inspired plan to restore investor confidence. I do not see anything else that could possibly bring back the SP short term and that is what most of here so badly need. I also do not wish to wait another year with the constant thoughts of cash flow issues and a necessary pipe, a reverse stock split, or worse yet a sub dollar buyout.
I do fully understand that. However, you can not tell me that there was not an opportunity to make headway in other areas during that time. Is COR not big enough to focus on more than one thing at a time. A hold was issued, the stock plummeted. The hold was released and the stock regained pre-hold value. Why not secure financing at that time. I know this has all been covered.
In hindsight I know it is easy to say, but if Neuro and others did know how fickle the FDA can be at the psych level then certainly Dr. Stoll and staff should have as well and protected the shareholders by creating value with a pipe at a more inconspicuous time. Furthermore, if BP interest was indeed there, take what you can get until more leverage is attained. Again, these are business perspectives.
Thanks Neuro for the very informative response.
With all that said, I then have to add further criticism to management for allowing any successful financing terms to fall throught the cracks and I do blame them for not taking a less lucrative BP deal for just AD. There seems again to have been misguided enthusiasm or just plain blind greed.
<<The previous CMO Harry Mansbach left after the hold was implemented. They've been looking for a long time, but who was going to come when CX717's safety was still in question? (My bias being, of course, that it is only in question from Psychiatry's PR perspective)>>
With that said, why then would Dr. Tran come to COR after the right out failure CX717? His one year security blanket certainly would not have been a final motivating factor. There must cetainly be a level of proudness to the successes of his undertakings. And traveling to the west coast to watch COR clean out their lockers cetainly does not seem logical.
<<He has enough to advance it as far as it should be advanced in house, which is Phase IIa.>>
If that is indeed the case and you believe that the successes of CX701 are much more attainable and fruitful then why is there truly as much financial concern here?
ASU,
By the looks of it you have adopted this board by default. PM posting has certainly dried up.
I think this forum does need an ample supply of scientific rhetoric however, so I would hate to see certain individuals go....It is what brought me to this board in the first place and what did cause me to create such a high stake in COR. In hind sight I wish maybe I had never found it but here we are.
The powers that be will always be criticized. Certain indiviuals should understand that. So when you stand up to the podium expect the most difficult questions and harshest judgment. I really am having a hard time wondering why there is so much sensitivity here. I just lost a $400K new house, you even more, if that does not warrant a bit of harsh scepticism then what should?
From a business standpoint I think the pipe was a mistake even now. When things did look brighter for COR and there was apparent BP interest, that is when financing should have been secured or a deal made.
In the wake of the most recent financing, Stoll should have aquired enough cash to get us further down the road. If CX701 is our next great hope then he cetainly should have funds available to advance it in house.
I do think, again from a business stand, that the hiring of Tran is a positive move. He has street cred and experience with successful teams moving compounds forward. I guess I am not quite sure as to why Stoll did not bring someone such as Tran in sooner to offer an experienced point of view to the FDA process.
Lastly, would there not have been as much BP interest for just AD? If the psych division, as of late, seems so apprehensive to approve new drugs then why go there? Was there not an opportunity to market CX717 for just AD? Anybody? Anybody out there?
I was just about to say that it was nice to see this board back to more well rounded hypotheticals rather than firing complete misdirected shots in the dark, then Neuro bails. That sucks.
This is the most intelligent and informative board I have ever personally come across. Obviously levels of education vary here and certain people cannot talk the talk but contrary opinions need to and will be made. A tolerence of sorts needs to be visible to all in my opinion. I enjoy all posters here and do certainly take some more serious and do validate their thoughts more than others but personal attacks should be left out. I strongly doubt we will find another contributary with the knowledge as Neuro but that does not mean we should tip toe around our thoughts. I have lost a considerable amount of money as have most and that will create from the cuff reactions. Hell, 3 days ago I thought we were about to go bankrupt, now I am much more open to different avenues of thinking. I have not posted on this board in 2 years because I wanted to leave the science to those who I believed did deserve the floor...but when slam dunks and high percentage obvious scenarios are blown out of the water then it is time to open up to more than just the science. The management, handlings of cash, and decision making at a business level have in my mind set back the science and has create doubt as to our future. That is what, I believe, has brought many new posters out of the closet. It is equally as important to discuss the business aspects and possiblities as well as the science. Without a good business the science cannot move forward.
I am a business man and not a scientist and do look at my investment in COR from a businiess perspective....I am sure others do here as well. I do however, appreciate the scientific posts. This board has taught me alot about the science and not to always believe good science creates a successful business model. Predictions were missed by the Dr.'s here, but without their expertise who the hell would know what was going on within the walls of Cortex and the compounds that we all seem to have a sick faith in.
Gfp,
If Stoll had any indication, which I believe he must have, that the refusal of CX717 for ADHD was possible.....and if he knew it would take 2 yrs, as others here have said, to advance CX701 with hopes of upfronts then why would he only assumed financing for 12 to 18 months?
Surely he must have been working on something during the last year and a half and not just banking on the outcome CX717.
Would he not have went after a larger pipe in order to secure the worst possible outcome?
All our recent financing seems to do at this point is delay our slow yet inevitable death. He certainly must know COR's own burn rate and realize that the $18 million available would at best only purchase a one way ticket with no chance of ever getting home. I know he can walk away from all this in much better shape than all of us bag holders but do you really believe he is that niave and or oblivious?
And, even though what I have just read may offer indication, do you really believe that an established man such as Dr. Tran would enter into COR with such a bleak outlook.... regardless of his salary, he sure is smart enough to know that he is being offered pipe dream riches if COR is indeed, as so many now feel, down to its last strike. That would certainly be a black mark on a very impressive resume. It just does not make sense to me. There has to be more to this horror film than we are currently seeing. I am hating on management as much as anybody right now but this complete inept behavior seems almost unimaginable.
One more thing, everyone has been jousting Neuro(I think he disclosed at some point a while ago) but does he not hold more shares of COR than anyone on this board...and if so why would he be needing to constantly offer false hope for he must feeling the reality of this and be equally as miserable as the rest of us. He must truly believe his insights. I remember a time when the 2 of you were helping each other across the finish line. My how things change. Being right on all accounts means nothing if COR goes under. We can all sit around and offer I told you so's while we share the left over ribs from the dumpster behind the the Vegas Club. So much for the top floor of the Wynn, I thinks those dreams are now behind us.
I am trying to look at historical points in COR to see how bad of shape we really were in years ago and what brought the share price out of the depths of Bio hell. These levels have existed before, why is this time so much more different when the technology seems so much more advanced. The whole enchilada certainly could not have been banking on the decision of a bipolar FDA. Again, Stoll is an idiot if he did not take a rejection into account, but COR is not a one trick pony and certainly this could not be the end. The picture had to have been much bleaker over the past 10 years. I am forcing myself to believe this.
Certainly someone with Tran's background would not come to a company like COR if he did not see the potential scientifically and finacially. This is good news, I agree.
I doubt, as Neuro said, he could walk away the minute the FDA ruling was announced, certainly some commitments were made and honored had he been signed prior to the ruling, which I am sure he was.
I am sure Tran was aware of the binary event as well and did know there was a possibilty of the decision not going COR's way. So the position was filled on obvious assumptions. This makes me feel slightly better, seeing as he certainly must have, and is, aware of COR's progress in other compounds and their ability to move forward financially. He has inside information that we do not. He certainly wouldn't come aboard for future worthless options and to put his his finger in the dam.
Also, maybe the conference call has been set back due to his arrival. Stoll may have wanted to include opinions of Tran within the CC and certainly could not do this until his announcement. That's a bit of a stretch, however.
Either way, let's stop the bleeding and hear the game plan. Weak volume and deteriorating SP is making me bulimic.
It appears more posters here are coming to the dark side.
You are right, now is not the time to silence the jestors...let them dance. If there are indeed more fools, no offense, as us reading this board that are willing to dump their life savings into the blissful wonderment that is ampakines, then let them drive our SP higher...hell their cost basis would be incredibly better than mine. Praise this pig as long as it gives me a chance to exit.
Don't get me wrong, I would feel bad if others fell to the same fate as I but I don't know that anyone here is feeling sorry for us based on our inability to weed through the overzealous posts of this board. I know it's my fault, don't invest on the advice of a message board, but when professionals of the industry offer their indepth opinions of the true potential of these platforms, people are sure to take notice. Let us hear the wisdoms sure to turn this company from these dire straights. Iggs, GFP, myself, are being realistic at this point. Prove us wrong.
We are undervalued, please buy, please buy. I get queezy just saying it.
Good luck to anyone who enters here. The board I used to read many months ago has gotten deservedly quiet. It is time to look at the business model. Any in depth talk of our golden compounds will not raise our share price or bring the cash needed to keep this company afloat. I just want to hear one of the board veterans tell me, not that we will be ok, but that something drastic needs to happen. If Stoll cannot advance the technology then who can. His bank account is full, I know, compared to most in this industry, his million dollar salary is modest...maybe he can fund '09 himself. I am sure the technical supporters are sick of me at this point but the science needs to start generating some green. Aiming, in advance I am sorry for the constant negativity but I have now 150,000 reasons to constantly express my disapproval of management and the still optomistic promoters of this miracle in the wings.
ASU, at the mercy of you and others, who are certainly miserable enough, I will pull the remaining punches I have left for this board and wait quietly for the carrot to appear. Let's hope it appears. I certainly have not offered a true strategical view of what needs to happen within COR, just that something needs to happen and happen quickly. So my griping for now is done which should help me sleep tonight. C ya!
Amen. I don't care how great of a guy Roger is or how compassionate he is about ampakins, my concern lies within the value created by him relating to COR share price. Hell, invent a new vitamin that stimulates and improves memory, if it makes millions and raises the SP who cares. Now is the time to be proactive. Either new individuals with new a vision need to come to the table or Stoll needs to have a hell of a back up plan, and based on the his demeanor mentioned by JerryD during their phone conversation, I doubt the latter is the case. I really don't understand how so many can be so faithful when we are almost broke(in relation to our inability to secure cash going forward) and the Sp is again at a 3yr low. If our platform are so valuable, certainly many others rather than just those posting on this illustrious board would be aware, then our SP would be much greater. The street does recognize potential....it appears they see none in COR. What is on the other side of the door? There are some great hypotheticals being posted here again....how many will truly prove possible. Sorry for the repeat distain, but I don't feel the need to put praise and recognition in a corner that is undeserving. Bring my share price back to levels that match the potential of ampakines and I will go quietly back to suburbs of this board. Roger should have expected the FDA outcome, he should have a back up plan, he should be communicating with us, he should aware of all realistic possiblities. It's time to save our ass, not his.
Aiming,
I guess I was looking for some insightful answers to justify my currently overweighted position in COR. I am looking for worst and best case scenarios to evaluate forward risk. Speculation is just that. I was hoping maybe an e-mail or other first hand contact with COR might have brought some verification to COR's future. I certainly do not want to sell here and it is just as hard to add to my position without knowing our plans going forward. I do believe everyone here understands the exponetial possiblities if COR can ever manage to advance one or several of their compounds but certainly time is of the essence and I am not sure current managemnet is going to be able to sufficiently manage our current cash situation.
I believe I read on this board that Stoll is over 60 years of age. Does that not raise some questions? He is paid handsomely and is probably near retirement which raises questions regarding his level of aggressiveness.
All of the suggestions of buyout, merger, BP intervention etc. sound great but what is the reality? I appreciate your thoughts and will weigh them with others. I certainly am holding until the conference call and will weigh my position at that time. Good luck and thanks for this board, although right now I fear it may have contributed to my somewhat undesirable situation.
scstocks,
I certainly appreciate your polite response. The odds appear to be in your favor. Although I have been in COR since 1996, I have never followed this company as closely as I have as of late.
It seemed to me that even though a poor financing deal had taken place as a safety net, the funds that were sure to come from the CX717 acceptance and an eminant BP deal appeared to be financially vital to bring other compounds forward.
I too buy on bad news and try to sell on good, this ussually in a stable non-bio environment, however, COR has not offered me this luxury. I did have a chance to make lofty profit after my first 50K reentry @ $1.14 prior to Stoll's post mortem press release. I accumulated much more on certain future good news which came in spurts but the gamebreaker never did surface. I believed in Stoll's confidence, and this board's as well, and now am severly underwater. I only blame myself. I have sat on the sidelines of this board but am now looking for answers from those who did offer their stongest confidence in CX717 ADHD approval.
As I stated, I am not a chemist or compound technical savy but I do understand that without the revealing of the so called irons currently in the fire we are a bobber with a hole in it.....soon to sink. There maybe bottom feeders offering unatractive financing deals keeping COR afloat but what does that do for the share holder...zip. I am anxious to see the writing on those pokers....when my faith is restored I will move quietly back to the sidelines and take in the technical thoughts of those who deserve to speak on such matters, but for now I am looking for a satisfying answer from our board of experts as to what may come of our cash and events which lie ahead. Good luck to you as well. I am trying to remain positive.
Aiming,
Again, I am only pointing out that the back up plan does not exist in the public eye which allows us to speculate. This is an extremely intelligent board and right now this board is all we have, at least until a conference call is issued. I am a business man that does not understand a majority of the technical jargon posted by Neuro and others, but from a business stand point I know where we stand, and we are standing in quicksand. If there is not a back up plan then Stoll certainly needs to depart and I prey for a buyout of technology. I just don't believe that someone exists to bail out a failing company, other than a value draining loan shark, no matter how great the technology. If there is no money in the bank what is it the technology seriously worth? Can our existing cash get us to point where there may again be BP interest?
Aiming,
My feelings towards Stoll, and I am not technical savy, is that he should have expected the hostile environment at the FDA. Was it worth pursuing ADHD for CX717? It appears that everyone on this board now feels that it would have been impossible to get CX717 through the Psych division, again which the workings of I am unfamiliar. However, prior to the flat out rejection and Stoll's concession, this appeared to be a slam dunk. Stoll's comments were all directed to post mortem artifacts, then why so easy to conceed? He need not pursue a dead end, wasting valuable time and money while eagerly convincing us that getting approval was no more than a technicality. If the atmosphere in that division of the FDA was so hostile, I believe he should have known this and moved much sooner in a different direction. What will he say now? My apologies but I felt the odds were favorable. I am very interested and behind the technology but I am seriuosly right not more concerned with the longevity of this company and its share price.
Aiming,
Certainly COR BOD might not approve of a $1.60 buyout if it is indeed an option. But seriously where is the leverage? If there exists no events that will drive value or share price what choice will they have? Either watch the funds dwindle or chase a finance deal at these levels which would surely further deteriorate the SP and company value in hopes of lasting yet another year. Again, unless something is in the forefront that is tangible, where are we going to get the cash from to move forward? A vicious cycle, I am afraid, is occuring.
scstocks,
You can only make your comparisons to similar scenarios.
Do you know where COR was with cash during those periods as compared to today?
Do you know what milestones lie ahead as compared to years past?
It is easy to compare 100's of stocks to their history, it does not mean it will repeat.
What will drive this stock price?
What are the next probable milestones or events forthcoming?
No one here has those answers. A conference call certainly will help with, but I am going to have a hard time believing anything that comes out of Stoll's mouth.....I seriously doubt the street would put any clout in it either.
As far as a buyout I seriously doubt that a premium of any kind would result based on the state of this company.
Certainly a BP would not bail out COR at its current levels if the technology may be nearly free a year from now. Unless COR has something up its sleeve that no one here is aware of I think we are in big trouble. I hope I am wrong because this stock has destroyed my portfolio but seriously I base my hope on facts and I am having a hard time relying on the repeating SP hype.
ASU,
I'm off to work.....but had to say, the bitch slap idea sounds great but has already been taken care of by my girlfriend for investing all I had in a speculative bio. Oh well.
Things look less grey today other than the harsh realization of my depleted portfolio. I think we will recover some but most will be left to the tales of time. If we reach $2 my sell button cetainly will be hit harder than Paul McCartney's divorce lawyer, I don't care what great predictions come from this board. All I can say, is that going forward, I hope that there will be more acceptance of scrutiny on this board than once before and that we shall be singing the praises of Ampakine therapy on a yacht in the carribean before the ages of 65. You can then offer, as you sip a bit of DOM with your friends and family, that you were one of the pioneer investors in this multi billion dollar company.
I doubt that neuro wishes to make predictions at this point, he is unfairly scrutinized. His expertise is greatly needed and appreciated here. I know we are not a one trick pony and future developmental insights are going to be necessary on his behalf.
In hindsight I do believe that the pipe was an indication of yesterday's outcome. I know our gamble was not with CX-717 but with the FDA. I just feel that Dr. Stoll had to know there was a much greater chance of rejection than this board did. Jim Haynes cetainly felt that way as well and was driven from this board. If all indications were good and a green light at the FDA and BP deal were eminent than there was no need for the cash. It is obvious now that this was not a "slam dunk" scenario. Certainly, the pipe safeguards COR from an unpredictable FDA but why was there so much unbelievable optimism by Dr. Stoll, Neuro and others here. The workings of the FDA need to be part of this CEO's repertoire. I doubt he was/is as surprised as we all were/are here. My hope is that he does have a conference call very soon and gets us up to speed on time tables and progress of future compounds and developments. My fears have to do with the burn rate and the possiblity of future pipes which will certainly deteriorate the SP. A lot of time and money has been wasted to get us to this point and Dr. Stoll certainly needs to answer to that. If this was somewhat expected then what have they been working on and what is our 12 month plan going forward?
Asu,
I couldn't have said it better. I did feel as if you ripped the thoughts right out of my head. Our stories are unfortunately Siamese. I will undoubtedly hold until my investment pie has all but been eaten up by the big fat boy that is COR.
I found this gem many, many years ago via a risk taking CPA friend of mine and I did indeed see true progress and hope of their technology. Well I haven't seen my friend in years and needless to say I probably have lost contact with the hope I once held for this company as well.
I did as you did, dumped quality holdings for the high risk touchdown. We were intercepted at the goal line again. The quaterback needs to be benched, that being Stoll, or we need to be bought out......I fear neither shall happen.
Misinfomation, false enthusiasm, and possible a lack of knowlegde of the management and true workings and technology of this company caused me to lose vitually everything. That will be a lesson I will pass to my offspring. I am only 40 and will get back on my feet, but this truly hurts. Good luck to you. I am out of posts for now.
It is possible that Neuro feels as bad as we do and is just to sick to post.
Sorry, but my restaurants will have to do double, hell quadruple, time to make up for these losses. I truly put my life savings into this thing in hopes for an early retirement and to say I was part of, what I thought was to be, an incredible story. It all now seems to be a pipe dream.
WOW,
I HAVE TO ADMIT THAT THE SILENCE OF NUERO THE PAST WEEK HAS ME A BIT CONCERNED. I HAD BEEN A HUGE FAN OF NUERO'S INSIGHTS INTO THIS COMPANY, AND SAID I WOULD SELL THE MINUTE HE TURNED NEGATIVE.
MY INVESTMENTS ARE INDEED MY OWN GAMBLES, HOWEVER, WITH THE PROMISING REMARKS FROM MANY VETS OF THIS BOARD, I CERTAINLY DID NOT SEE THIS COMING. I HAVE BEEN IN CORTEX SINCE 1996 AND HAD SOLD MY ORIGINAL POSITION MANY YEARS AGO WITH PROFITS. I BEGAN A NEW POSITION A FEW YEARS BACK AND ACCUMULATED HEAVY OVER THE PAST YEAR SINCE THE HOLD......NEVER DID I EXPECT THIS. THIS BOARD HAS BEEN TRULY INFORMATIONAL(I HAVE READ EVERY POST OVER THE LAST 12 MONTHS) BUT, IN HINDSIGHT, OVERLY OPTOMISTIC, WHICH I MUST ADMIT DID INFLUENCE MY RECENT HEAVY ACCUMULATION(125,000 SHARES).
WHERE IS PATCO, HE SEEMED TO BE THE MOST ON TARGET AS OF LATE.
I DID INDEED APPRECIATE NUERO'S SCIENTIFIC INSIGHTS, AN ARENA OF WHICH I AM QUITE OUT OF MY LEAGUE, BUT WHERE WERE THE RESERVATIONS? I MEAN THE PERCENTAGES PUT ON FAILURE HERE, BY MOST INTELLECTUAL ESTIMATIONS, WERE TRITE.
ARE WE DONE HERE? GFP SEEMS TO THINK SO. DO WE NOT HAVE A EXTREMELY ATTRACTIVE LINE YET TO DEAL WITH ALZHEIMERS? ARE AMPKINES NOW A VISION OF THE PAST? IS THERE ANY VALUE LEFT HERE? HOW MANY MONTHS OR YEARS WILL IT TAKE TO BRING ANOTHER CORTEX HOPEFUL TO TRIAL? NOW MORE THAN EVER I WOULD LIKE TO HEAR THE WISDOM OF NUERO AND HIS FAITHFUL FOLLOWERS. HE DOES NOT OWE ME OR THIS BOARD ANYTHING, I KNOW THAT, BUT CERTAINLY HIS TRUE EMOTIONAL THOUGHTS REGARDING THIS DEBACLE WOULD PUT SOME OF MY RECKLESS THOUGHTS TO REST.