Ore Pharmaceuticals Inc. Message Board

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Biotech / Medical : Ore Pharmaceuticals Inc.

ORXE 0.193

+1.8%

Aug 18 5:00 PM EST

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To: Mike McFarland who wrote (23)	10/31/2008 7:17:20 AM
From: Mike McFarland	Read Replies (1) of 50

financial results for the third quarter ended September 30, 2008 phx.corporate-ir.net Ore had $14M and expects that to last through 2009-- boy, that's frugal. GL1001, tiapamil and romazarit are valued for minus $10M, seems a little harsh. Ha, the stock would have to triple just to trade closer to the value of the cash they have on hand right now, sigh. Looks like the flow through chip is dead--I'd wondered about that... The Company recorded an impairment of its long-term investment in Xceed Molecular, formerly MetriGenix, which Ore spun-off in 2001 to allow the further development of its patented Flow-Thru Chip technology. The Company has determined the value of the impairment to be $3.0 million, representing the remaining book value of this investment. The Company recorded the adjustment as a non-cash expense in the third quarter of 2008. The Company does not expect this impairment will result in any future cash expenditures.

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