And here's a frank admission in the letter that the new momo shareholders may not yet realize:
Before I joined Cortex, I was impressed with some of the early proof of principle studies with CX516 that indicated the AMPAKINE compounds can work in humans. After I evaluated the data, it became clear that the doses required, the frequency of dosing, and possibly the cost of goods associated with CX516 relegate it to a compound that can be a proof of principle, but not a viable therapeutic agent. It is a major accomplishment for a company to prove that its technology works in humans, and that has thankfully been accomplished. However, virtually every large pharmaceutical company we have spoken with during the past six months only looks at CX516 for its activity in human clinical trials, none has any interest in the molecule. While we continue to evaluate the potential of CX516 in some selective i.v. uses in the critical care setting, even such uses would require new clinical trials. Obviously, this was a difficult issue to communicate to the market and our loyal shareholders, but it is critical that we move forward and get this issue behind us. |
