LAVAL, QC, Aug. 28 /CNW Telbec/ - Following the issuance of a press
release on August 26, 2007, announcing results from the tramiprosate
(ALZHEMED(TM)) North American Phase III clinical trial and the subsequent
conference call on August 27, 2007, Neurochem Inc. (NASDAQ: NRMX; TSX: NRM)
wishes to re-iterate that while it does not provide guidance regarding
financial matters, in light of circumstances surrounding the announcement and
subsequent call, based on the unaudited financial statements of the Company as
at July 31, 2007, the cash position was approximately US$80 million.
The Company believes that while its cash reserves should support current
operations for 15 to 18 months, the recommendations of the newly established
Special Advisory Board for tramiprosate (ALZHEMED(TM)) and other upcoming
milestone events make it impossible to predict with certainty the Company's
cash requirements at any point in time.
Neurochem Inc. is focused on the development and commercialization of
innovative therapeutics to address critical unmet medical needs. Eprodisate
(KIACTA(TM)) is currently being developed for the treatment of Amyloid A
amyloidosis, and is under regulatory review for marketing approval by the U.S.
Food and Drug Administration, the European Medicines Agency and Swissmedic.
Tramiprosate (ALZHEMED(TM)), for the treatment of Alzheimer's disease, has
been the subject of a completed Phase III clinical trial in North America and
is currently being studied in a Phase III clinical trial in Europe, while
tramiprosate (CEREBRIL(TM)), for the prevention of hemorrhagic stroke caused
by cerebral amyloid angiopathy, has been studied in a completed Phase IIa
To Contact Neurochem
For additional information on Neurochem and its drug development
programs, please call the North American toll-free number 1 (877) 680-4500 or
visit the Web site at www.neurochem.com.
Certain statements contained in this news release, other than statements
of fact that are independently verifiable at the date hereof, may constitute
forward-looking statements. Such statements, based as they are on the current
expectations of management, inherently involve numerous risks and
uncertainties, known and unknown, many of which are beyond Neurochem's
control. Such risks include but are not limited to: the impact of general
economic conditions, general conditions in the pharmaceutical industry,
changes in the regulatory environment in the jurisdictions in which Neurochem
does business, stock market volatility, fluctuations in costs, and changes to
the competitive environment due to consolidation, that actual results may vary
once the final and quality-controlled verification of data and analyses has
been completed, as well as other risks disclosed in public filings of
Neurochem. Consequently, actual future results may differ materially from the
anticipated results expressed in the forward-looking statements. The reader
should not place undue reliance, if any, on the forward-looking statements
included in this news release. These statements speak only as of the date made
and Neurochem is under no obligation and disavows any intention to update or
revise such statements as a result of any event, circumstances or otherwise.
Please see the Annual Information Form for further risk factors that might
affect the Company and its business.
For further information:
For further information: Lise Hébert, Ph.D., Vice President, Corporate
Communications, (450) 680-4572, firstname.lastname@example.org