RespireRx Pharmaceuticals Inc. CFO and CEO Issue Letter to Stockholders, Stakeholders, Strategic and Potential Strategic Partners and Other Interested Parties

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RespireRX Pharmaceuticals Inc.
RespireRX Pharmaceuticals Inc.

Glen Rock, N.J., Feb. 10, 2025 (GLOBE NEWSWIRE) -- RespireRx Pharmaceuticals Inc. (“RespireRx” or the “Company”), a leader in the discovery and development of innovative and revolutionary treatments to combat diseases caused by disruption of neuronal signaling, today provides a progress and status report to its stockholders, stakeholders, strategic partners as well as other interested parties.

Dear Stockholders, Stakeholders, Strategic and Potential Strategic Partners and Other Interested Parties:

As we enter 2025, we would like to provide you with this open letter summarizing the current macro-environment affecting our industry sector, our challenges, the strategies we are considering to meet those challenges, our accomplishments during 2024, our 2024 disappointments and our 2025 goals and plans. Of course, we can provide no assurance that we will achieve these goals (see cautionary note about forward-looking statements near the end of this letter), but we believe that they are based on realistic assumptions and are reasonably achievable. We will certainly work hard on your behalf to try to achieve what we lay out here.

The Take Home Message – a Brief Summary

While we have experienced a number of challenges, which will come as no surprise to our followers, we have had important successes, particularly with our science and preclinical and clinical development. We have published in peer-reviewed journals fourteen times in 2024 but importantly, these papers and those of prior years have been cited frequently by other peer-reviewed authors, which is an indication of their quality and relevance. Two additional papers have published online or in print in 2025, two more have been submitted for review and approximately four are in various stages of drafting. Our collaborator, the Shirley Ryan AbilityLab, a leading spinal injury research and treatment institution, received a $1.8 million grant for Phase 2A and 2B human clinical trials in spinal cord injured patients with our AMPAkine CX1739. We have also applied for a sizable SBIR grant related to our GABAkines program (while we have received high scores from the grant reviewers, no assurance can be provided that the grant will fund). Below you will find details about our challenges, possible strategies to meet those challenges, our accomplishments, our 2024 disappointments and our plans and goals for 2025.

One of the things we started in 2023 and continued in January 2025 is the establishment of subsidiaries that we believe will provide substantial benefits to the Company going forward. In 2023, we established ResolutionRx Ltd as a wholly-owned Australian subsidiary to further the development of our cannabinoid program, particularly dronabinol, with a new proprietary formulation, initially for the treatment of obstructive sleep apnea. In January 2025 we converted our business unit, EndeavourRx into a wholly-owned subsidiary, EndeavourRx LLC, with RespireRx as the sole member. We believe that this strategy will enable or make easier, among other things, the following: