RespireRx Pharmaceuticals Inc (RSPI)

[nakedmouse]

Neuro remembers Axonyx, don't you? The failed Plll, under suspicious conditions, but still had something like 50 million in cash and were acquired for pennies by Torre Pines. Management, with all their promises and pumping, literally, disappeared over night. Now look at Torre Pines! If you didn't live first hand thru that episode, you don't know what depression really is. Looking down at the water -it's a long-long way.

All these small biotech 'hired guns' disguised as management are just one rats tail away from pushing you off.

http://finance.yahoo.com/q/bc?s=TPTX&t=2y

How far away is Cortex from a similar announcement?

TorreyPines Therapeutics, Inc. (Nasdaq: TPTX - News) today announced that it will transition from a discovery and development company to a development-only company, focusing on its three clinical development programs. As a result, TorreyPines will streamline operations through the shut down of its discovery operations, and seek to monetize non-core assets through the expansion of its business development efforts. On September 30, 2008, the company will reduce its work force by approximately 50 percent, primarily in the area of discovery. As a result of this restructuring the company expects to decrease its spending going forward. The company will retain 13 employees supporting preclinical, clinical, business development, and administrative activities.