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Monday, October 15, 2007 2:05:24 AM
I don't see any permanent damage to the ampakine platform or the blue sky potential of ampakines. And these junior biotechs like Cortex have nine lives. CX717 maybe be damaged goods, but there will be other compounds (eventually). And I believe money spent on CX717 toxicology was well spent. The safety of the ampakine platform had to be defended at all costs.
An ampakine could still be the next blockbuster drug for Alzheimer’s. An ampakine could still be the next blockbuster drug in schizophrenia. And let's not forget about depression. Seems like ampakines are being studied in universities all over the world now. Who knows when the next RD-type indication will come along? And aren't Pfizer and others desperate for new products?
From a cynical trading perspective, it doesn't really matter if none of this potential is ever realized. All we need is for something to happen which gets investors dreaming about the possibilities (then we have to remember to sell).
I agree that things are somewhat different this time, bleaker in some respects. But things are better in other respects. Cortex has better compounds, better chemistry, and they have more clinical data in humans that ampakines actually do something.
Dr. Tracy has said many times that ampakines are the most exciting platform in CNS. Has that changed just because the FDA is cracking down on ADHD drugs?
I'm not claiming that Cortex will got to $50, or that there is no risk in buying now. I just believe the risk/reward of buying Cortex at 80 cents is pretty good.
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