Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : NEOTHERAPEUTICS (NEOT) (NEOTW) -- Ignore unavailable to you. Want to Upgrade?

To: David M. Evans who wrote (408)	5/22/1998 11:31:00 PM
From: Joe Bz	Respond to of 705

Even at these prices I may short some more! From the Motley Fool Message Board: NeoTherapeutics Issues Clarification of May 20, 1998 News Item IRVINE, Calif.--(BUSINESS WIRE)-- May 21, 1998--This news release is being issued by NeoTherapeutics, Inc. (Nasdaq: NEOT; NEOTW) in order to clarify information contained in a May 20, 1998 Dow Jones News Service story. The article was based on an interview with the Company's CEO, Dr. Alvin J. Glasky, conducted on May 20, 1998. Comments made by Dr. Glasky during the interview consisted primarily of information that has been disclosed previously by the Company. This news release provides clarification of information contained in the Dow Jones News Service story, which the Company believes is necessary to accurately reflect the comments made by Dr. Glasky. Following are the Company's clarifications to the article: -- The first Phase I clinical trial of the Company's lead compound, AIT-082, demonstrated improved memory and behavior in some, but not all, of the 10 Alzheimer's disease patients included in that study. The trial was designed primarily to determine the safety of the drug. Two additional Phase I clinical trials of AIT-082 were conducted in healthy elderly volunteers and were also designed to determine the safety profile of AIT-082. The Phase I trials included a total of 42 individuals. In these, studies doses from 10 to 4,000 milligrams of AIT-082 were used and no significant adverse effects were observed. Because of the small number of people involved in these studies, any conclusions regarding the safety or efficacy following long-term administration of AIT-082 must await the results of future clinical trials involving substantially larger numbers of patients with Alzheimer's disease. -- NeoTherapeutics has an agreement with a European company that is limited to manufacturing the AIT-082 drug compound for the Company's development efforts. This agreement does not involve any licensing rights and the Company presently does not have a license agreement with any pharmaceutical company. -- NeoTherapeutics recently announced that it received a commitment from a private investor for a $15 million equity investment in the Company. The Company believes that this amount will be sufficient to complete the Phase II clinical trial which was initiated earlier this month as well as other planned projects. However, in order to complete the additional trials needed to obtain FDA approval for AIT-082 in Alzheimer's disease, substantial additional financing will be necessary.