Neurogen Corp (NRGN)

[surf1944]

Ridiculous price for NRGN from yahoo board:
This price values NRGN at $17 million dollars. As of March 31st, they had $25 million in cash and they raised another $30 million in April, totaling $55 million. They probably spent $15-20 million at the most in Q2, which means they should have $35-40 million in cash on the books. $35-40 in cash.....company valued at $17 million.

I think the adipiplon trial will get going again as soon as they fix the timed release capsule. In the meantime, the annual meeting is Friday and the Parkinson's trial should be ending very soon if it's not over already. Maybe they get some good news out before the meeting....

At any rate, I am loading up for $0.40/share. This easily could be at $1.50 with some decent phase II data for aplindore. I don't think there is much downside risk at all at $0.40/share.