Jerry -- "I believe closer to $15-20 million and some annual funding for the rights to low impacts in a laundry list of indications."
Why do you think a partner would be willing to pay upfronts to Cortex that are higher than the company's market cap? Also, we have been assuming that potential partners are probably interested in only one indication each, rather than seeing a deal "for the rights to low impacts in a laundry list of indications." If a partner wants to take the AMPAKINE ball and run with it, by which I mean buying a significant chunk of or the whole company, which seems unlikely, I wouldn't expect them to pay the equivalent of the entire market cap for a piece of the action or much more than the entire market cap of around $13 million for the whole of a desperate company running on fumes. Cortex has no leverage and there apparently is no bidding war amongst multiple, potential partners. Just some common sense, my feel for the situation.
Things just don't go well for Cortex, history tells us, or at least they haven't yet, and I don't expect them to pull a rabbit out of the hat this time either.
Public disclosure: I'm thinking about buying back into COR if the price gets REALLY cheap.
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