Lemons into lemonade

As Neurocrine Biosciences Inc. closed the book on its DHEA program to treat Alzheimer's disease, the company said it was neither surprised nor disappointed by last week's failed Phase II/III study. The development of the compound was being funded by an affiliate and NBIX said it never assumed that the compound would succeed.

see BioCentury, May 11, 1998). "It's a neurosteroid but the mechanism remains unknown," said NBIX President and CEO Gary Lyons. "Now that DHEA is dead, I can honestly say that I don't know how it works. Investors were told not to count on the success of this program."...