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Biotech / Medical : Cadus Pharmaceutical Corp. (KDUS) -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (254)	9/17/2000 2:20:16 PM
From: Tomato	Read Replies (1) \| Respond to of 1833

Can some knowledgable person tell me where KDUS goes from here? I was looking at the SEC filings and it looks like the company is basically a shell right now: ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Overview The Company was incorporated in 1992 and until July 30, 1999, devoted substantially all of its resources to the development and application of novel yeast-based and other drug discovery technologies. On July 30, 1999, the Company sold its drug discovery assets to OSI Pharmaceuticals, Inc. ("OSI") and ceased its internal drug discovery operations and research efforts for collaborative partners. The Company terminated all employees who were not hired by OSI or who did not voluntarily resign except for the Chief Executive Officer who resigned in April 2000. The Company has incurred operating losses in each year since its inception including net losses of approximately $971,000 during the six-month period ended June 30, 2000. At June 30, 2000, the Company had an accumulated deficit of approximately $53.0 million, which reflects an $18.5 million charge for litigation damages with respect to the patent infringement litigation with SIBIA. The Company's losses have resulted principally from costs incurred in connection with its research and development activities and from general and administrative costs associated with the Company's operations. These costs have exceeded the Company's revenues and interest income. As a result of the sale of its drug discovery assets to OSI and the cessation of its internal drug discovery operations and research efforts for collaborative partners, the Company ceased to have research funding revenues and substantially reduced its operating expenses. The Company expects to generate revenues in the future only if it is able to license its technologies. ***** So, they won the lawsuit...do they start hiring employees now? ???? Why did the stock initially pop up on the FDCA decision and then put on the brakes? I see the company's webpage featured on the title post is no longer there. Anyway, thanks for any information.