RespireRx Pharmaceuticals Inc (RSPI)

[neuroinv]

1) As of this afternoon EST, it had not been received. Varney presented and did a good job--simply noting that they were waiting for more info from the FDA. He also asked quite a few sharp questions of other presenters, he is quite astute.

2) The timing of the BP deal is now sometime during 1H:07. Clearly they expect that the continued ambiguity will slow down finalization of any negotiations.

3) I had an interesting conversation today with Eric Karran, Lilly's head researcher for neurodegenerative disorders, who is headquartered in the UK. He made it clear Lilly expects that a valuable drug is going to come out of the AMPA modulators; but that they are still wrestling with the question of how high they can go with dosing without triggering seizures. Karran also mentioned that they are trying to understand the biology whereby trophic factors are released, which shows they are still focused on high impacts. When I told him I thought it was absurd that Cortex and Lilly couldn't join forces on a partnership, he noted that he was already aware that this was my opinion, and then added that Lilly isn't convinced that they need Cortex's IP--i.e. they still hope to win on appeal of the patents. I told him I thought it was a ridiculous waste of money to pay the attorneys rather than combining forces. Karran responded that this was not a tactical choice that was in his control--though I didnt get the impression he disagrees with it..

NeuroInvestment