RespireRx Pharmaceuticals Inc (RSPI)

[bladerunner1717]

Neuro,

In retrospect MITI's financing at $4.25 looks very good. And SPPI's deal with AGN also looks very good. Admittedly, both MITI and SPPI are focused on oncology. (SSPI now has about a $40 million market cap with $90 million in cash, about $3/share. The share price is about $1.25.)

It will be intersting to see how IDIX, a favorite of Dew's and one of my holdings as well, will do in negotiations for its HIV drug. The company has promised a deal by year end.

The problem is that there seems to be no end in sight for the financial meltdown which has become an economic meltdown. Allowing the Big Three automakers to go bankrupt will not help the stock market. I had thought that the worst case scenario would be 7500 on the DOW, but now I'm not so sure. (Buffett's Berkshire is down over 40% for the year so far, BTW.)

I think margin calls and hedge fund redemptions are still occuring, and that is hitting biotech very hard.

With the credit markets frozen, anything that any micro-cap biotech with less than six month's cash can do to keep a "going concern" has to be viewed as a positive. Anything, at this point, that Varney/Stoll/Coleman can come up with to get through 2009 will be especially positive.

(I sent Varney the article on Dew's I-hub board about biotech bankruptcies. As if he wasn't aware of biotechs' dire straits already--LOL)


Bladerunner