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

1 and December 31, 2010, respectively

28

28Series D – Convertible, $0.10 par value; 792,100 shares designated, 734,898 shares issued and outstanding at June 30, 2011 and December 31, 2010, with an aggregate liquidation preference of $31,355 and $32,547 at June 30, 2011 and December 31, 2010, respectively

73

73 Common Stock:$0.001 par value; 100,000,000 shares authorized, 27,997,701 and 27,918,148 issued and outstanding at June 30, 2011 and December 31, 2010, respectively

28

28 Additional paid-in capital

58,003

57,474 Deficit accumulated during the development stage

(66,796)

(61,763)Total stockholders' deficit

(8,664)

(4,160)Total liabilities and stockholders' deficit

$4,963

$9,677NEUROLOGIX, INC.(A Development Stage Company)STATEMENTS OF OPERATIONS(UNAUDITED)(Amounts in thousands, except share and per share amounts)Six Months Ended June 30,

Three Months Ended June 30,

For the period

February 12, 1999

(inception) through

June 30, 20112011

2010

2011

2010Revenues

$
-

$
-

$
-

$
-

$  -Operating expenses:Research and development

3,252

3,399

2,025

1,542

36,748General and administrative expenses

1,713

1,983

883

699

23,927Loss from operations

(4,965)

(5,382)

(2,908)

(2,241)

(60,675)Other (expense) income:Dividend, interest and other income

-

1

-

1

1,885Interest expense-related parties

(2,734)

-

(1,366)

-

(3,600)Change in estimated fair value of derivative financial instruments – warrants

2,666

(2,588)

1,323

(2,232)

(569)Other (expense) income, net

(68)

(2,587)

(43)

(2,231)

(2,284)Net loss

(5,033)<
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SOURCE Neurologix, Inc.
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