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Neurologix Announces Second Quarter 2011 Financial Results
Date:8/11/2011

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DJE Science
Jennifer Mallory, 312-240-2996
Jennifer.Mallory@djescience.com

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

$3,453

$8,055Prepaid expenses and other current assets

319

481Total current assets

3,772

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

49

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

1,137

1,065Other assets

5

5Total assets

$4,963

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

$3,375

$2,302Notes payable, net of discount

6,078

4,695Total current liabilities

9,453

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

4,174

6,840Total liabilities

$13,627

$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
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SOURCE Neurologix, Inc.
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