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    OTCBB Watchlist – Neurologix Phase II Trials Data for its Parkinson’s Disease Therapy

    Neurologix Inc. (NRGX.OB) soared 10.32% to $1.39 yesterday on anticipations that more positive data from the phase II trial of the company’s investigational gene therapy for advanced Parkinson’s disease would be released by September 28 at a conference in Glasgow, Scotland. Despite the good news yesterday, shares fell 5.04% to $1.32 mid-day today.

    Shares of Neurologix have rallied between $1.20-$1.30 over the last two months following the initial release of positive investigational results in June. The trading activity has gradually improved over the last trading days  and reached 57,600 share on September 21, the highest level since the mid of July.

    Neurologix is a clinical-stage biotechnology company dedicated to the discovery, development

    and commercialization of life-altering gene transfer therapies for serious disorders of the brain and Central Nervous System. Current company programs address such conditions as Parkinson’s disease, Huntington’s disease and epilepsy, all of which are large markets not adequately served by current therapeutic options.

    The company’s leading product candidate, investigational AAV (adeno-associated virus) vector gene therapy, NLX-P101, is a novel, non-dopaminergic approach that uses an inhibitory gene to selectively alter the neural circuitry affected in Parkinson’s disease and, thereby, normalize brain physiology. Neurologix’s technology is the only gene therapy strategy currently in development which bypasses the dopamine system.

    In June, Neurologix reported positive results in a phase II trial of NLX-P101. Study participants who received NLX-P101 experienced statistically significant and clinically meaningful improvements in off-medication motor scores compared to control subjects who received sham surgery. In the trial, this benefit was seen at one month and continued virtually unchanged throughout the six month blinded study period. The results also demonstrated a positive safety profile for NLX-P101, with no serious adverse events related to the gene therapy or surgical procedure reported.

    Additional data from the trial are expected to be disclosed by the end of September at a conference in Glasgow. The company’s stock price could get a solid boost, if additional positive results, demonstrating the therapy capacity to alleviate the Parkinson’s disease symptoms reduce drug usage and necessity of deep brain stimulation surgery, would be released

    Neurologix is currently taking steps to move toward a pivotal trial for treatment of Parkinson’s disease and hopes to be in a position to file its protocol with the FDA in 2011. The ability of the company to conduct such a trial would require the FDA approval and the availability of adequate funds. Currently, the company estimates that the pivotal trial could be completed by 2013 and would require $20  million – $40 million to be completed.

    The failure to find required financing or a partner to continue phase II and III trials could do away with Neurologix, however if all goes well, this represent a significant upside potential.

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