RespireRx Pharmaceuticals Inc (RSPI)

[neuroinv]

But that's my point. It's easy to say--if their assets were seen as being of value, a Pharma would have taken an equity position. No, they wouldn't, unless it is part of a partnership, and attaching a value to SA in order to set partnering terms is very difficult. Cortex wants to be given payments commensurate with success in Phase IIa, a partner doesnt want to do that until they can see data. So the wait on partnering is not really equivalent to--they see no value. It's really a case of--they don't know how much value is there yet.

And it is, with all due respect, sloppy thinking to simply say that you can't imagine a Pharma giving them millions of dollars for a drug with Phase IIa data. That is what Biovail did with Acadia, and it's the best comparator we have. If it doesn't apply--why not?

I am not referring to only you, this happens a lot with other people: But when people criticize Cortex for what they have done, they are pretty short on suggesting substantive alternatives:
'Get out there and market' or 'don't take no for an answer' aren't substantive.

This is not to say Cortex has made all the right moves--certainly they can be justifiably criticized for not raising more money at propitious times. But if someone can't suggest a cogent alternative, the criticism should probably be less barbed and denigrating.

NeuroInvestment