RespireRx Pharmaceuticals Inc (RSPI)

[neuroinv]

Before you start fantasizing white knights, be sure you know who you are waiting for:

(from NI July/August)<<February 13, 2009: "Tang Capital has engaged in discussions with the (Vanda Pharmaceuticals) Company and the Board with regards to the strategic direction of the Company. We believe that in order to maximize value for all stockholders, the Company must cease operations immediately, liquidate the Company’s assets and distribute all remaining capital to the Company’s stockholders." At the time that Mr. Tang demanded immediate liquidation, his 15% share was worth about $2.9 million. Of course, he did not get what he thought he wanted, and Tang Capital's ownership stake in Vanda had reached a value of $59 million at the end of May. It really is better to be lucky than to be good.>>

Just a little counterbalance to the grass-is-always-greener thinking that concludes that everybody else is smarter; if only we had so-and-so on our team.

NeuroInvestment