Horselover, Yes, Schering is another wildcard. Among the questions here - will they update their deal with Cortex, and if so, when?
1) Soon
2) After interim Org-26576/ADHD results
3) After full Org-26576/ADHD results
4) After Org-26576 Depression results
The next question, assuming Schering does ink a new/updated deal with Cortex -- how many new compounds will Schering want? One would expect they'll want two of the new low impacts, the compounds with full patent lives. Cortex has CX-1739 and CX-1763 coming through tox, but one or both of these compounds will have to be in the RD pharma deal. One way around this problem might be to give Schering CX-1739, plus an earlier backup not yet in tox, and to give the RD partner CX-1763 plus another earlier stage compound not yet in tox. That might work, though what will that leave Cortex to work with for its inhouse programs? It will take several years to get another compound clinic ready for inhouse work, so one can see the dilemma here.
So the Schering and RD partnerships give Cortex enough money to keep its doors open, but strip Cortex of its clinic ready compounds. Cortex can then either twiddle their thumbs for two years waiting for some new compounds, or alternatively, inlicense a non-Ampakine program. Another scenario might have Cortex getting bought out by Schering or the RD partner, which might be the best option all around. Give us $5/share and put us out of our misery :o) That would be sweet. Or how about $3? That wouldn't be so bad either. Of course the other possibility is that the RD trials bomb, and then we're off to the dumpster..
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