Timing of this financing seems to be a primary question,
the good-all projects will be able to fire on all cylinders and the natural slow pace of drug development may seem to go a little quicker
better deal leverage- if you don't give us a very reasonable offer, we will be able to progress to the next step independently and then any offer will be in significantly higher ranges (submit IND, receive it and start immediately)
Maybe the research with the other pipeline drugs is proceding quickly and they expect a higher burn rate in the near future or are having a higher burn rate currently
the bad-with talks to the FDA, they put forth questions of the data submitted that need re-examination and the money will be needed for that time and effort
deals on the table do not appear viable and Cortex is deciding to procede on their own-to fruition/for awhile
Much of the board and myself thought the news received this summer already would have drived the stock much higher, who is to say the IND for ADHD would be any different. Since the lift of the restrictions (AD study only, no ADHD study design submitted prior to the hold I believe), the IND would seem to be a done deal with time the only factor. The FDA additional discussions may just be the appropriate political statement to go with-it takes a long time to analyze a 6ft box of data and we at the FDA currently will dot every i and cross every t.
I believe the IND is a very good step but can anyone give a thorough and valid discussion on why that would be a significant price driver for IND vs. what press releases have already occurred this summer.
Based on the overall market and the history of Cortex, maybe the only real driver in price will be- BP deal, + AD PET scan results, +pipeline data results
Why now vs. in late Sept, Oct?, beyond the leverage effect and the ability to spend more on all pipeline prospect progression, ??? is all I can say.
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