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Biotech / Medical : Neurobiological Tech (NTII)
NTII 0.00010000.0%Mar 7 3:00 PM EST
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To: Apache Indian who wrote (477)4/2/1999 5:33:00 PM
From: Dr. John M. de Castro  Read Replies (1) of 1494
 
NTII Will be Announcing Financing
I had a conversation with Paul Freiman late yesterday. He indicated that the private placement is going better than expected and that he would be putting out a press release about it as soon as all the investors are on board. He indicated that there were a couple that he was still looking for commitments from and that he didn't want to put out a press release until all the "i"s were dotted and the "t"s crossed. It wasn't clear exactly when that would happen. But, he said that he had a draft press release sitting on his desk that is ready to go as soon as things are finalized.

This is good news. The press release should help to reassure investors who were getting concerned about the financial condition of NTII. This should also provide sufficient funding to carry NTII through to its major milestones of

1) memantine partnership

2) NIH's results of Phase II trial of memantine for AIDS dementia complex

3) NTII's results of Phase II trial of memantine for Diabetic Neuropathy

4) Merz's results of its 2 European Phase III trials of memantine for dementia

5) Merz's results of its US Phase III trials of memantine for dementia

6) NTII's Phase II Xerecept for peritumoral edema trial.

Every time I type up this list of upcoming milestones, I am absolutely amazed that this tiny company with a market capitalization of only $4 million could have this much late stage stuff going for it. Other companies with comparable late stage projects have market capitalizations that are over $100 million (25 times larger). NTII should be the poster child for absurd undervaluation.

John de C
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