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Cambridge NeuroScience Cerestat

Executive Summary

Preliminary analyses of discontinued Phase III trials in stroke and traumatic brain injury demonstrates potential therapeutic benefit in a subset of the stroke population. CNSI and partner Boehringer Ingleheim will further evaluate data on the 620 patients from the stroke trial and expect to decide by the second quarter of 1998 if further clinical trials are warranted. CNSI will lay off 30 of its 60 staffers, taking an $800,000 charge against earnings. Eleven scientists will remain in ion-channel research, including the ophthalmology work with Allergan, and five scientists will work on growth factor research. The company is considering the sale of some or all of its technology assets...
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