Aiming, Dr. Stoll does seem to be going in that direction (non-Ampakine in-license), and Cortex may have identified the program they want. However, Cortex doesn't have sufficient cash reserves at the moment, and with CX-717 still in partial limbo due to the dose restrictions (the severity of which we'll hopefully find out in the conf call), the BP deal proceeds may not be available until Q1/Q2. Other sources of money include the warrant proceeds and a PIPE.
Cortex may be worried that another company will grab the coveted in-license program first. If Stoll wants the in-license deal immediately, he might have to do a PIPE. I'm not a big fan of the in-license idea, and therefore wouldn't favor a less than favorable PIPE just to accomplish it. We'll see what happens.
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