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Neurologix Announces Second Quarter 2011 Financial Results


DJE Science
Jennifer Mallory, 312-240-2996

----- Tables to Follow ----NEUROLOGIX, INC.
(A Development Stage Company)
(Amounts in thousands, except share and per share amounts)June 30,
2011December 31,
2010(Unaudited)ASSETSCurrent assets:Cash and cash equivalents


$8,055Prepaid expenses and other current assets


481Total current assets


8,536Equipment, less accumulated depreciation of $704 and $682 at June 30, 2011 and December 31, 2010, respectively


71Intangible assets, less accumulated amortization of $426 and $364 at June 30, 2011 and December 31, 2010, respectively


1,065Other assets


5Total assets


$9,677LIABILITIES AND STOCKHOLDERS' DEFICITCurrent liabilities:Accounts payable and accrued expenses


$2,302Notes payable, net of discount


4,695Total current liabilities


6,997Derivative financial instruments, at estimated fair value – warrants


6,840Total liabilities


$13,837Commitments and contingenciesStockholders' deficit: Preferred stock; 5,000,000 shares authorizedSeries A – Convertible, $0.10 par value; 650 shares designated, 645 shares issued and outstanding at  June 30, 2011 and December 31, 2010, with an aggregate liquidation preference of $1


-Series C – Convertible, $0.10 par value; 700,000 shares designated, 275,235 and 278,849 shares issued and outstanding  at June 30, 2011 and December 31, 2010, respectively, with an aggregate liquidation preference of $7,752 and $8,369 at June 30, 201

SOURCE Neurologix, Inc.
Copyright©2010 PR Newswire.
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