Good posts all. I guess the best answer is to await the facts on the ground to ripen. There are a hundred or more possible variations on each different outcome: FDA, deals, drugs inlicensed ect . . . the best way to sort through this is the feel your way through each outcome, analyze it, instead of simply selling at a strike price of 3,4,5,10 or whatever. Of course, a strike price brings discipline.
BTW, I've discussed the time length with one of the developers of the TURNS plan last year: his take was about 15 months of a trial duration. So, if Cortex proceeds with a phase IIb ADHD trial for 7-8 weeks(a good hunch)mid year and the more robust TURNS trial takes 15 months in total: 2008 will bring results in ADHD and schizophrenia at the phase IIb level. That ain't bad for a company with a market cap of 37 million, and an enterprise value of 20 million! I now do believe Cortex will get dosing liberalization to allow ADHD. What Stoll has announced their finding gives strong hope for this outcome.
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