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Neurologix Announces First Quarter 2011 Financial Results
Date:5/13/2011

arges of $0.8 million, or $0.03 per basic and diluted share, related to preferred stock dividends in connection with the Series D Stock and the Series C Stock.

The Company had cash and cash equivalents of approximately $5.4 million as of March 31, 2011.

Clark A. Johnson, President and Chief Executive Officer of Neurologix, noted that these first quarter financial results were consistent with the Company's expectations. "During the first quarter, our leadership in gene therapy was strongly confirmed by the publication in The Lancet Neurology of the positive results of our Phase 2 clinical trial of gene transfer for the treatment of advanced Parkinson's disease. These are the first successful Phase 2 gene therapy results in any therapeutic area that have been published in a peer-reviewed journal. As we have reported before, we are continuing on the path to develop NLX-P101, our Parkinson's disease gene transfer therapy, as a much needed therapy for patients with Parkinson's disease and plan to submit a Phase 3 protocol to the FDA later this year."

About NeurologixNeurologix, Inc. (OTCBB:NRGX) is a clinical-stage biotechnology company dedicated to the discovery, development and commercialization of life-altering gene transfer therapies for serious disorders of the brain and central nervous system. Neurologix's therapeutic approach is built upon the groundbreaking research of its scientific founders and advisors, whose accomplishments have formed the foundation of gene therapy for neurological illnesses. The Company's current programs address such conditions as Parkinson's disease, epilepsy, depression and Huntington's disease, all of which are large markets not adequately served by current therapeutic options. For more information, please visit the Neurologix website at http://www.neurologix.net.

Cautionary Statement Regarding Forward-Looking StatementsThis news release include
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SOURCE Neurologix, Inc.
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