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September 2003 (v03-n09) |
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- Main Story - pgs. 1-8 Cortex Pharmaceuticals
- Macro Market Commentary - pgs. 9-10
- Biotech Monthly Coverage Update - pg. 11-20
- Including a eight pages on Genta
(GNTA)
- NIBM Model Portfolio - pg. 21
- (Full outline below...)
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| Cortex Pharmaceuticals (AMEX:COR) is a small
biotech company developing Ampakine compounds to amplify the power of the glutaminergic
(glutamate) neurotransmitter system to treat neurological and psychiatric disorders. The
company expands the work of Gary Lynch and others at UC Irvine. We view the "big
indications" that will drive the stock forward are in treating schizophrenia and mild
cognitive impairment (MCI), both of these are in large Phase IIb studies administered by
Cortex's partners. |
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| Cortex is the leader in developing drugs targeting
AMPA brain receptors. |
Subscriber direct access |
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| So far, the company has shown it can demonstrate
effectiveness without side effects in Phase I and Phase II studies. This remarkable fact
also explains its low share price. Cortex is carving out an entirely new class of drugs
and its story is rather esoteric, hence no major analysts are currently covering the
company. We like this. Cortex did, however, recently receive positive attention in a
recent Business Week article and special issue of Scientific American,
nicely increasing the price per share. |
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| The following is an outline of this issue of
the NIBM Newsletter. |
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- Main Story - Cortex battles mental illness in a new way
- Introduction
- Table: Basic facts on Introgen
- Disclosures
- Investment case
- Recent Financing
- Table: Follow-on offering (August 21, 2003)
- Alliances
- Organon
- Les Laboratoires Servier
- Shire
- Science
- Product Development
- Table: Cortex products at a glance
- CX516
- Mild cognitive impaitment (MCI)
- Alzheimer's
- Schizophrenia
- Fragile X
- DARPA
- S-18986
- ORG-2448
- ORG-? for depression
- CX717
- LY-451395
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- Competition
- Table: Selected Competition
Table: Introgen selected milestones
- What can go Wrong
Macro Market Commentary - "Counterbalances"
- Biotech Monthly Coverage Updates
- Genta (8 pages !!!)
- No comparative analysis done by Genta
- Are the groups different?
- Does it matter?
- Bottom line
- Dr. Hauschild
- European Filing
- Statistical Penalty
- Reimbursement
- Why melanoma first?
- CLL or myeloma next?
- CLL delays
- Table: Typical CLL patient timelines
- Statistical Analysis Plan
- ODAC or no ODAC
- Timelines
- Table: Biotech Monthly timeline estimates
- Stock strategy
- Dendreon
- Nabi
- AVANT
- Aeterna
NIBM Model Portfolio Performance |
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