Navigation Links
Neurobiological Technologies Announces Hiring of Advisor to Seek Sale of Company
Date:3/26/2009

EMERYVILLE, Calif., March 26 /PRNewswire-FirstCall/ -- Neurobiological Technologies, Inc. (NTI(R)) (Nasdaq: NTII) announced today that it has hired RBC Capital Markets as its exclusive financial advisor to assist in the evaluation of various options to enhance shareholder value, including a potential sale of the Company or its major assets.

"We have retained RBC Capital Markets to assist us in efficiently determining if there is a transaction more beneficial to our shareholders than a liquidation," stated William Fletcher, acting Chief Executive Officer. "We have a duty to our shareholders to maximize the value of NTI. We intend to proceed expeditiously in this process while continuing to wind-down operations, cut expenses and preserve cash. If our evaluation of strategic options does not result in a transaction that meets our objectives, NTI will act expeditiously to return as much cash as possible to our shareholders through a liquidation or other means."

About Neurobiological Technologies, Inc.

Neurobiological Technologies, Inc. is a biopharmaceutical company historically focused on developing investigational drugs for central nervous system conditions and other serious unmet medical needs. The company recently terminated development of its most advanced product candidate, Viprinex(TM) (ancrod), which was studied in Phase 3 clinical trials as a potential new drug to treat acute ischemic stroke. NTI has recently chosen not to extend its early-stage research program for Alzheimer's disease beyond the first year of a collaborative agreement with the Buck Institute. NTI has rights to receive payments from an approved drug for Alzheimer's disease and an investigational drug which has recently completed a Phase 3 trial for brain swelling.

NOTE: Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including risks relating to our terminated clinical trials, our continuing contractual commitments, the outcome of our efforts to maximize value following the hiring of RBC Capital Markets as financial advisor, and levels of future operations and expenditures, as well as other risks detailed from time to time in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Actual results may differ materially from those projected. These forward-looking statements represent our judgment as of the date of the release and we undertake no obligation to update these forward-looking statements.


'/>"/>
SOURCE Neurobiological Technologies, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Neurobiological Technologies Reports Second Quarter Fiscal 2009 Financial Results
2. Neurobiological Technologies Reports Receipt of $1.5 Million Royalty Payment for Quarterly Sales of Memantine
3. Neurobiological Technologies Announces Suspension of Viprinex Development
4. Neurobiological Technologies Partner, Celtic Pharma, Provides Update on XERECEPT(R) Clinical Program and Planned Sale in 2009
5. Neurobiological Technologies, Inc. Reports First Quarter Fiscal Year 2009 Financial Results
6. Neurobiological Technologies to Present at the Rodman & Renshaw 10th Annual Healthcare Conference in New York on November 10
7. Neurobiological Technologies Sets Date for First Quarter Financial Results
8. Neurobiological Technologies Reports Receipt of $2 Million Royalty Payment for Quarterly Sales of Memantine
9. Neurobiological Technologies to Present at the BIO Investor Forum in San Francisco on October 30, 2008
10. Neurobiological Technologies Announces Update Call on Viprinex (TM) Phase 3 Trial Program
11. Neurobiological Technologies, Inc. (Nasdaq: NTII) Q4/08 Review Issued by Scimitar Equity, LLC
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/11/2017)... Tampa Bay, Florida (PRWEB) , ... October 11, ... ... Food and Drug Administration (FDA) has granted orphan drug designation to SBT-100, its ... antibody (sdAb) for the treatment of osteosarcoma. SBT-100 is able to cross the ...
(Date:10/10/2017)... Oct. 10, 2017 International research firm Parks Associates ... speak at the TMA 2017 Annual Meeting , October 11 in ... the residential home security market and how smart safety and security products ... Parks Associates: Smart ... "The residential security market ...
(Date:10/9/2017)... ... October 09, 2017 , ... The award-winning American Farmer ... first quarter 2018. American Farmer airs Tuesdays at 8:30aET on RFD-TV. , With ... with the challenge of how to continue to feed a growing nation. At the ...
(Date:10/7/2017)... ... October 06, 2017 , ... ... technologies, launched its ProxiMeta™ Hi-C metagenome deconvolution product, featuring the first commercially ... cloud-based bioinformatics software to perform Hi-C metagenome deconvolution using their own facilities, ...
Breaking Biology Technology:
(Date:4/18/2017)... SUNNYVALE, Calif. , April 18, 2017  Socionext Inc., a ... prototype of a media edge server, the M820, which features the ... face recognition software provided by Tera Probe, Inc., will be showcased ... and at the NAB show at the Las Vegas ... ...
(Date:4/13/2017)... According to a new market research report "Consumer IAM Market ... Authorization), Service, Authentication Type, Deployment Mode, Vertical, and Region - Global Forecast ... from USD 14.30 Billion in 2017 to USD 31.75 Billion by 2022, ... ... MarketsandMarkets Logo ...
(Date:4/11/2017)... N.Y. , April 11, 2017 ... fingerprints, but researchers at the New York University ... College of Engineering have found that partial similarities ... security systems used in mobile phones and other ... thought. The vulnerability lies in the ...
Breaking Biology News(10 mins):