Neurobiological neurology news
On Dec. 17, 2012, Neurobiological said its board declared an extraordinary dividend of $0.05 per share that was paid on Dec. 27 Neurobiological filed a certificate of dissolution with the State of in Delaware in December 2009 after stockholders approved a plan for voluntary dissolution. The company also said the Delaware Court of Chancery has authorized the continued existence of the company for three additional years. Neurobiological requested the continuance because it has not liquidated its assets and is still eligible for proceeds from the potential sale of Xerecept corticorelin, a synthetic human corticotropin-releasing factor (CRF), by Celtic Pharmaceutical Holdings L.P. (Hamilton, Bermuda). Celtic has rights to Xerecept from Neurobiological under a 2005 deal. Xerecept is in Phase III testing to treat cerebral edema associated with primary and metastatic brain tumors (see BioCentury, Sept. 26, 2005 & Jan. 4, 2010). ...