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Biotech / Medical : Cortex (Cor) [formerly CORX] -- Ignore unavailable to you. Want to Upgrade?

To: Cage Rattler who wrote (523)	10/17/1998 10:55:00 PM
From: DavidCG	Read Replies (2) \| Respond to of 1255

Actually, what usually happens is that Bristol Meyers...or (name a large drug company of your choice)gives a smaller company like CORX money for research... in return, Bristol Meyers gets exclusive rights to market and make the drug and sell it. CORX makes huge proceeds from the deal and so too does the larger pharmaceutical company. It's a win-win scenario. If you want an example of this... look to ENMD (Entremed). They are doing this right now...Bristol Meyers is supporting ENMD's research with rats. ENMD is a $24 stock with more shares than CORX. Also, I'd like to point out that the dilution of CORX has been averaging about 1.5 million shares per year. Which is a very small number. But it is a reality you have to accept when you buy into a small pharmaceutical research company. This is how small pharms support their research: grants and restricted stock. Until CORX finds an acceptable big named partner...expect the outstanding shares of CORX to increase from the current 10 million to 11.5 million by October 1999. Personally, I don't think that is a lot of dilution...because as time passes, so too does CORX get further into the human trials they are currently conducting. The stronger the results and the further along CORX is in testing, the stronger bargaining power CORX brings to the table when negotiating with the big boys for research support and funds. If I was a Bristol Meyers... I'd want to sign on CORX while the price is still cheap enough to come aboard. At the same time, if I'm a Bristol Meyers, I want to make sure CORX has great potential for a new wonder drug before throwing millions of my money at them. One thing going for CORX is that the National Institute of Health is conducting these tests... that is a lot of credibility for larger drug companies to follow. The rewards for CORX finding a wonder drug are outstanding large. It is a big IF. Welcome to the world of drug research. -DavidCG (further note: 16 institutions own 12% of CORX stock)