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11/10/08 4:45 PM

#21857 RE: Midasbro #21852

Bbcbro, I saw that -- CX-2007 - another new low impact. Other revelations from the R+R presentation -

1) CX-717 showed surprising efficacy at 900 mg in the RD-2 study! I was really surprised to see that (slide 8). Most of the 'procedural problems' in RD-2 (loose masks, nervousness) must have occurred in the 1500 mg cohort.

2) Basal breathing data from RD-1 -- CX-717 worked every bit as well as naloxone (CX-717 in prevention, naloxone in reversal, but the degree of breathing improvement almost exactly the same, see slide 9).

3) There will be a meeting with European regulators in December to discuss advancing CX-717 into ADHD trials.

4) A human pilot study will start in Q1-09 in Obstructive Sleep Apnea.

5) Scheduled to start in Q2-09 are - a) an RD Phase 2 using the IV form of CX-717, b) an ADHD Phase 2 using CX-1739, and c) a Phase 1 with CX-1942 (the new water soluble prodrug for IV use).

6) Cash burn lately has been just under $1 mil/month. There was approx $7 mil at the end of Sept (so approx $5.5 mil remaining at mid-November).

So all in all, things are moving right along. Now all we need is some money to fund it all.