Business
Neurochem provides information on cash position
Neurochem provides information on cash position.
About this update from Bluenergies Ltd.
[{"type":"text","content":"\n\n\n\nLAVAL, QC, Aug. 28 /CNW Telbec/ - Following the issuance of a press\nrelease on August 26, 2007, announcing results from the tramiprosate\n(ALZHEMED(TM)) North American Phase III clinical trial and the subsequent\nconference call on August 27, 2007, Neurochem Inc. (NASDAQ: NRMX; TSX: NRM)\nwishes to re-iterate that while it does not provide guidance regarding\nfinancial matters, in light of circumstances surrounding the announcement and\nsubsequent call, based on the unaudited financial statements of the Company as\nat July 31, 2007, the cash position was approximately US$80 million.\n\n\nThe Company believes that while its cash reserves should support current\noperations for 15 to 18 months, the recommendations of the newly established\nSpecial Advisory Board for tramiprosate (ALZHEMED(TM)) and other upcoming\nmilestone events make it impossible to predict with certainty the Company's\ncash requirements at any point in time.\n\n\nAbout Neurochem\n\n\nNeurochem Inc. is focused on the development and commercialization of\ninnovative therapeutics to address critical unmet medical needs. Eprodisate\n(KIACTA(TM)) is currently being developed for the treatment of Amyloid A\namyloidosis, and is under regulatory review for marketing approval by the U.S.\nFood and Drug Administration, the European Medicines Agency and Swissmedic.\nTramiprosate (ALZHEMED(TM)), for the treatment of Alzheimer's disease, has\nbeen the subject of a completed Phase III clinical trial in North America and\nis currently being studied in a Phase III clinical trial in Europe, while\ntramiprosate (CEREBRIL(TM)), for the prevention of hemorrhagic stroke caused\nby cerebral amyloid angiopathy, has been studied in a completed Phase IIa\nclinical trial.\n\n\nTo Contact Neurochem\n\n\nFor additional information on Neurochem and its drug development\nprograms, please call the North American toll-free number 1 (877) 680-4500 or\nvisit the Web site at www.neurochem.com.\n\n\nCertain statements contained in this news release, other than statements\nof fact that are independently verifiable at the date hereof, may constitute\nforward-looking statements. Such statements, based as they are on the current\nexpectations of management, inherently involve numerous risks and\nuncertainties, known and unknown, many of which are beyond Neurochem's\ncontrol. Such risks includ...