Biotech Values

[DewDiligence]

Re: Ampakines

>> Lilly had a PD/Ampakine Phase II that recently terminated due to toxicity issues, and it looks like it may take at least a year (very rough estimate by Cortex's CEO, Dr. Stoll) for Cortex to develop a high impact Ampakine that gets around the toxicity issues. <<

LLY confirmed during the Q&A session of their R&D webcast last week that their Ampakine trial was terminated due to seizures. (Those of us who listened to COR’s 11/17 webcast knew this, but I don’t think it had previously been publicly disclosed by LLY.)

LLY asserts that they have a full-fledged family of backup compounds and that they are definitely not throwing in the towel on this program.