Central nervous system drug R&D firm proposes initial public offering of 3.5 mil. shares at estimated per share price of $7 to $9 in Feb. 20 preliminary prospectus filed with the SEC. Neurex' technology is based on neuron-specific calcium channel blockers and their mode of action in neurological damage from ischemia. An IND is still on target for late 1992 for the company's lead compound, SNX- 111, for the prevention of neurological damage following cardiac arrest. Neurex and the Japanese firm Ono Pharmaceutical signed an R&D pact in June 1991 ("The Pink Sheet" July 29, 1991, T&G-5).
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