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Biotech / Medical : Biotech & Pharma.T.A, -- Ignore unavailable to you. Want to Upgrade?

To: Jibacoa who wrote (2325)	3/22/2008 10:37:48 PM
From: Jibacoa	Read Replies (2) \| Respond to of 3722

NRGN was up 57.95% on volume of 960,949 >8x its ADV, but it went down 9.09% AHs. bigcharts.marketwatch.com The stock was up for 2nd day on a roll, apparently after reporting its 4thQ results & some some optimistic comments from its CEO:"While 2007 marked a year of solid progress, I expect 2008 to be a year of both new exploration and the realization of important clinical results." "We have recently initiated a PII with aplindore in both Restless Legs Syndrome and P.D. and anticipate results by the end of this year." "With adipiplon, our GABA alpha-3 partial agonist, we are expanding into anxiety where we will conduct proof-of-concept studies in humans this year." "Recent animal studies indicate that our selective GABA approach produces a strong anxiety relieving effect without the behavioral impairing effects seen with existing drugs. With additional opportunities to further define the clinical and commercial profile of adipiplon for insomnia in a PII/III side-by-side study with Ambien CR, and a new opportunity to explore adipiplon in schizophrenia, we look forward to further advancing the portfolio.” However, the financial results weren't too good.<g> The revenue for Yr. increased to $15.4M vs. $9.8M in 2006, but the 4thQ revenues were $0 vs. $2.1M in 2006. (The decrease in operating revenue for the quarter was due to the acceleration of revenue recognition from the completion of the research collaboration with MRK, which caused all revenue from the collaboration to be recognized during the 1st 3Qs.) The R&D expenses for the Yr. were higher at $61.0M vs. $55.9M in 2006.The general & administrative expenses were also higher at $12.8M vs.$11.6M in 2006 The stock is now facing resistance from its Dec 26 H at $4.13 & it will probably close Thursday's UG at the $2 level. A good part of Thursday's UM was probably also due to short covering, since the short ratio had increased 9% in the last month & was around 16x its ADV. The stock isn't off yet from the DT coming from its June H at the $8.75 level. bigcharts.marketwatch.com Bernard