My opinion is that the entire micro cap and small cap biotech sector will vanish. Without the money, their entire strategy is flawed. Obviously, this applies not just to Cortex, but to everybody outside of a select few like perhaps Dendreon. The value here and it is better than the share price indicates is in a buyout.
There is a small chance that positive sleep apnea results lead to a deal, but I predict a buyout. POC in sleep apnea will enhance those terms.