Replies to post #51466 on Biotech Values

[DewDiligence]

> COR – why do you think Cortex doing a financing has hurt the credibility of the company?<

It’s not the financing per se that has hurt credibility, but rather what the financing suggests: that interest from Big Pharma may not be all it’s been cracked up to be.

>why would you think there's a possibility of no interest in CX717 for ADHD?<

Are you saying this thought has not even entered your mind?

As you know, I’ve long thought the CX-717 results in ADHD were modest, that a new drug with Strattera-like efficacy was apt to be a commercial dud, and that COR’s main underlying value was in the high-impact realm. The latest financing does not prove I was right, but it doesn’t prove I was wrong, either. Regards, Dew

[DewDiligence]

>COR – Dew, why would you think there's a possibility of no interest in CX717 for ADHD?<

Obviously, there isn’t any now, but I question whether there ever was.

When a biotech executive says “there is strong partnership interest in our drug and we’ve received multiple term sheets,” it should be greeted by investors with skepticism. When an executive says this repeatedly over the course of several years in reference to the same program, it should be greeted by investors with extreme skepticism.