DALLAS, Jan. 28, 2010 (GLOBE NEWSWIRE) -- InvestorSoup.com announces an investment report featuring CombinatoRx Inc. (Nasdaq:CRXX). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision.
The full report is available at: http://www.investorsoup.com/lp/CRXX
Get our alerts BEFORE the rest of the market. Follow us on Twitter: www.twitter.com/investorsoup">www.twitter.com/investorsoup
CombinatoRx Inc. (CRXX) is a biopharmaceutical company focused on developing synergistic combination pharmaceuticals. The Company has devoted substantially all of its resources to the development of its drug discovery technology and the research and development of its drug candidates, including conducting preclinical and clinical trials and seeking intellectual property protection for its technology and product candidates. Its portfolio of clinical product candidates targets multiple diseases including immuno-inflammatory diseases, metabolic disease, chronic pain and topical dermatoses. In December 2009, CombinatoRx and Neuromed Pharmaceuticals Inc. announced that they have merged.
Message Board Search for CRXX: http://www.boardcentral.com/boards/CRXX
In the report, the analyst notes:
“As of September 30, 2009, CRXX had cash, cash equivalents, restricted cash and short-term investments of $22.2 million compared to $30.6 million on June 30, 2009, and $43.7 million on December 31, 2008. This decrease from June 30, 2009, is primarily due to $2.6 million in restructuring costs and $1.8 million in professional fees associated with our ongoing strategic realignment and proposed merger with Neuromed.
“CRXX and Neuromed Pharmaceuticals Inc. yesterday announced that they have merged, combining the product assets and financial resources of both organizations, including potential Exalgo(TM) milestone and royalty revenue, CRXX's portfolio of product candidates and unique drug discovery capabilities. The combined company will trade under the stock symbol "CRXX" on the NASDAQ Global Market. … Under the merger agreement, CRXX issued approximately 14.9 million new shares of its common stock to Neuromed stockholders and placed another approximately 67.8 million new shares of its common stock in escrow. Escrow shares will be released in whole or in part to former Neuromed stockholders based upon the outcome and timing of the FDA's review of the New Drug Application (NDA) of the product candidate Exalgo, which has a February 22, 2010, PDUFA review date.”
To read the entire report visit: http://www.investorsoup.com/lp/CRXX
See what investors say about CRXX at penny stock forum
InvestorSoup.com is a small-cap research and investment commentary provider. InvestorSoup.com strives to provide a balanced view of many promising small-cap companies that would otherwise fall under the radar of the typical Wall Street investor. We provide investors with an excellent first step in their research and due diligence by providing daily trading ideas, and consolidating the public information available on them. For more information on InvestorSoup.com, please visit www.InvestorSoup.com/">http://www.InvestorSoup.com
InvestorSoup.com Disclosure
InvestorSoup.com is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. InvestorSoup.com is a Web site wholly owned by BlueWave Advisors, LLC. Please read our report and visit our Web site, InvestorSoup.com, for complete risks and disclosures.