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Neurologix Reports Third Quarter 2010 Financial Results
Date:11/12/2010

when, or if, the Company will be able to successfully receive approval from the FDA on its Investigational New Drug Application to commence a Phase 1 clinical trial for the treatment of epilepsy.
  • There is no assurance as to when, or if, the Company will be able to successfully complete the required preclinical testing of its gene therapy for the treatment of depression or Huntington's disease to enable it to file an Investigational New Drug Application with the FDA for permission to begin a Phase 1 clinical trial or that, if filed, such permission will be granted.

  • Other factors and assumptions not identified above could also cause the actual results to differ materially from those set forth in the forward-looking statements. Additional information about factors that could cause results to differ materially from management's expectations is found in the section entitled "Risk Factors" in the Company's 2009 Annual Report on Form 10-K. Although the Company believes these assumptions are reasonable, no assurance can be given that they will prove correct. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results. Further, the Company undertakes no obligation to update forward-looking statements after the date they are made or to conform the statements to actual results or changes in the Company's expectations.Contact:NeurologixMarc Panoff, 201-592-6451Chief Financial Officermarcpanoff@neurologix.net-- Financial tables to follow--NEUROLOGIX, INC.
    (A Development Stage Company)
    BALANCE SHEETS
    (Amounts in thousands, except share and per share amounts)September 30,
    2010December 31,
    2009(Unaudited)ASSETSCurrent assets:Cash and cash equivalents

    $3,004

    $9,637Prepaid expenses and other current assets

    158

    395Total current assets

    3,162

    10,032Equ
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    SOURCE Neurologix, Inc.
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    All rights reserved

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