Replies to post #2313 on RespireRx Pharmaceuticals Inc (RSPI)

[gfp927z]

Daviddal, Organon should ideally want to now focus more on the rest of their pipeline. But when something like this happens, companies often do the exact opposite - they put all their available resources into saving their one big program (Asenapine), since they have so much riding on it. Then the rest of their pipeline suffers from lack of funds. CTIC comes to mind - they would have been better off just dumping Xyotax altogether when it ran into trouble, and concentrating on Pixantrone. Instead they continue to whip a dead horse at the expense of the rest of the pipeline.

Having to count on Organon to bail Cortex out of its current mess is not good, but then again we may not have that many other options.

[neuroinv]

The asenapine news was not surprising--on Nov 1 NI had published this:
<<It would surprise us if Pfizer does not terminate the asenapine agreement with
Organon. In which event, the dominoes could begin to fall. Akzo claims it is still going to spin off Organon, but what will its valuation be without asenapine? A lot less than it was a couple of weeks ago. The only other pipeline asset that
we consider highly attractive is their license for Org24448 and Cortex's AMPA-modulating rights for schizophrenia and depression worldwide. If we were Organon, we'd be looking for a wide-ranging Ampakine partnership to feature in their IPO. If were Pfizer, we'd buy that whole package--of course, they will probably be reluctant, based on 'developer's remorse'--regretting that they went after schizophrenia. The fact is that asenapine's mechanism was not particularly novel or alluring, Pfizer was banking on a minor variation on a tired, atypical theme.>>

In the long run, this is good news for Cortex--simply because the highest profile 'next' schizophrenia drug is finished in sz--which means all other sz platforms move up a notch or two--and none are in better position than AMPA-modulators. DavidAl suggested a number of interesting hypotheses about Organon, though I would argue there is just as much likelihood that they will try to dress up their IPO with 'we now have full control over the asenapine PhIII program for bipolar disorder.' Which could absorb even more of their energy and cash. Organon has never been known for its strategic vision. Even if Organon is now more interested in Ampakines, it would be vital to not undercut the value of Cortex's other molecules--i.e. any option for Org24448 must not encroach on Cortex's ability to outlicense any other molecules they have to anyone else-Organon cannot tie Cortex's hands unless they pay a lot for the privilege. Does this make Pfizer more of a partnership player? In theory yes, but I'm not sure that Kindler has 'the vision thing' either. This week's analyst day may (hopefully) shed some light on how Pfizer is going to react to its pipeline problems....

Re: Cortex's financing--at this point, the sooner they get it over with, the better.

NeuroInvestment

[bladerunner1717]

Davidal,

A question for you, as long as we're having so much fun here speculating about COR's future, while waiting for the "shelf" to fall on us.

Suppose, for argument's sake, that Organon got ORG24448 approved for either schizophrenia and/or depression and CX717 was approved for either AD and/or ADHD. Would you , in your practice, prescribe the Organon drug for AD and/or ADHD, off-label, of course, since you knew about the histopathological findings for CX717? And since ORG24448 is another low-impact Ampakine, would it make sense to try it with patients for ADHD? (Let's leave the reimbursement issues aside for the sake of this argument.)

My point is: How do we know that ORG24448 is not a better drug for AD and/or ADHD, and with a better safety profile? Could COR, to some extent, wind up competing against itself in this regard? Do you know if Organon has any plans to test either of the two Ampakines that it now has in clinicals for depression and schizphrenia for Ad and/or ADHD as well?


Bladerunner