Navigation Links
Neurobiological Technologies Announces Hiring of Advisor to Seek Sale of Company

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:
(Date:11/24/2015)... /PRNewswire/ - Aeterna Zentaris Inc. (NASDAQ:  AEZS) (TSX: AEZ) (the ... the Toronto Stock Exchange, confirms that as of the ... developments that would cause the recent movements in the ... --> About Aeterna Zentaris Inc. ... Aeterna Zentaris is a specialty biopharmaceutical company engaged in ...
(Date:11/24/2015)... LEXINGTON, Massachusetts , November 24, 2015 ... Officer, will participate in the Piper Jaffray 27 th Annual ... on Tuesday, December 1, 2015, at 8:30 a.m. EST (1:30 p.m. ... Poulton , Chief Financial Officer, will participate in the Piper Jaffray ... City , NY on Tuesday, December 1, 2015, at 8:30 ...
(Date:11/24/2015)... , ... November 24, 2015 , ... ... the environment are paramount. Insertion points for in-line sensors can represent a weak ... the InTrac 781/784 series of retractable sensor housings , which are designed ...
(Date:11/24/2015)... 24, 2015 HemoShear Therapeutics, LLC, a ... for metabolic disorders, announced today the appointment of ... of Directors (BOD). Mr. Watkins is the former ... Sciences (HGS), and also served as the chairman ... Powers , Chairman and CEO of HemoShear Therapeutics. ...
Breaking Biology Technology:
(Date:11/2/2015)... PARK, Calif. , Nov. 2, 2015  SRI ... $9 million to provide preclinical development services to the ... the contract, SRI will provide scientific expertise, modern testing ... wide variety of preclinical pharmacology and toxicology studies to ... --> The PREVENT Cancer Drug Development ...
(Date:10/29/2015)... Oct. 29, 2015 Daon, a global leader ... has released a new version of its IdentityX ... North America have already installed IdentityX ... includes a FIDO UAF certified server component ... to activate FIDO features. These customers include some of ...
(Date:10/29/2015)... OXFORD, Connecticut , October 29, 2015 /PRNewswire/ ... "Company"), a biometric authentication company focused on the ... Wocket® smart wallet announces that StackCommerce, a leading ... will be featuring the Wocket® smart wallet on ... NXTD ) ("NXT-ID" or the "Company"), a ...
Breaking Biology News(10 mins):