RespireRx Pharmaceuticals Inc (RSPI)

[zebra4o1]

OMG! Market cap down to $6.5 million. Am really starting to understand what the term 'value trap' means. If it seems too cheap to sell at a market cap of $10 million, how are you going to be able to get yourself to sell at $6.5 million? Two years ago they could sell the RD indication for $10 million, now the whole company is worth a little more than half that?

This is getting to the point where management could all get together and sell their fancy San Diego homes and take the company private.

My favorite biotech near death experience was when the CEO of Insite Vision, Kumar Chandrasakarian mortgaged his Berkeley home to lend the company $800 K. That guy was a true believer. Got his money back in the next financing, but lost control of the company to some investment fund sharks and was booted. Company is doing O.K. now, mostly due to stuff Chandrasakarian put in place.

Biotech is so universally hated now, starting to think that I should force myself to start getting back in. Can this nuclear winter last forever?