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Biotech / Medical : CNSI Cambridge Neuroscience
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To: TheSlowLane who wrote (342)3/9/1998 10:05:00 PM
From: NeuroInvestment  Read Replies (3) of 675
 
What was more intriguing was this: the release states that they would move to "conserve cash" by laying off half its staff. The next paragraph announces a $1.00 per share dividend payable in April: thus of the $38.5 million they have in cash/securities, they plan to give around $18 million to shareholders. Not the kind of cash conservation one would expect from a company seeking to maximize its ability to develop its R&D programs. It is one way for major holders of CNSI stock (e.g. Warburg Pincus 3 million shares, Boehringer Ingelheim 2.5 million) to get back some of their investment. While CNSI and Boehringer are looking at Cerestat as being possibly beneficial in a subgroup of stroke patients (who have less white matter damage), reducing cash by this degree is hardly a positive longterm sign. NeuroInvestment (http://www.neuroinv.com)
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