>>Cortex to Provide Shareholder Update and Host Conference Call on October 31, 2007
Friday October 26, 8:33 am ET
Cortex's AMPAKINE(R) Technology Featured in November, 2007 National Geographic Magazine Focused on Memory
IRVINE, Calif.--(BUSINESS WIRE)--Cortex Pharmaceuticals, Inc. (AMEX: COR - News) will host a conference call on Wednesday, October 31, 2007 at 12:00 Noon EDT (9:00 AM PDT) to discuss the recently announced decision by the Division of Psychiatric Products (DPP) of the Food and Drug Administration to not permit the initiation of the proposed Phase IIb clinical study of CX717 in adult ADHD (attention deficit hyperactivity disorder), and its impact on the Company’s development programs.
After receiving the telephonic notification from the FDA, the Company immediately made its announcement on October 11, 2007. Although Cortex has not yet received the formal written response from the Agency, it has been re-evaluating its development strategy. The Company now believes it can no longer wait for the written response from the Agency and that it should proceed to discuss its future development plans with its shareholders. During the conference call, the Company intends to discuss its plans and options to (a) further the development of CX717 in several acute life-threatening indications and (b) develop several of the promising backup AMPAKINE® compounds that are emerging from discovery research.
The company had approximately $20 million in cash at the end of September, 2007. The company feels that these funds are sufficient to fund its activities into 2009.
Cortex is committed to advance the lead achieved with its AMPAKINE technology and its beneficial impact on cognitive function. The Company was pleased to learn that it is featured in the November issue of National Geographic Magazine which highlights the potential for Cortex’s AMPAKINE technology to treat memory loss, Alzheimer’s disease, and dementia. The cover story in National Geographic entitled “Memory: Why We Remember, Why We Forget” discusses memory, Alzheimer’s disease, and three drug companies which are working to create new drugs that enhance the brain’s natural capacity to remember.
Participants in the Conference Call are asked to call the following numbers 5-10 minutes prior to the starting time:
* From the U.S. and Canada: 1-866-334-3876
* International: 1-416-849-4292
A replay will be available for two weeks after the call by dialing 1-866-245-6755 (US and Canada) or 1-416-915-1035 (International) and entering access code 941955 when prompted.
For more information, call: Erika Moran or Tom Caden at The Investor Relations Group, Inc. Phone: 212-825-3210.<<
snip
Cheers, Tuck |
