RespireRx Pharmaceuticals Inc. Files June 30, 2016 Quarterly Report on Form 10-Q

RespireRx Pharmaceuticals Inc. (OTCQB:RSPI), a leader in the development of medicines for respiratory disorders, including sleep apneas and drug-induced respiratory depression, has filed its June 30, 2016 Quarterly Report on Form 10-Q and is hereby providing an update on the Company’s ongoing clinical trials, financing activities and its plans for the remainder of 2016.
Comments by Chief Executive Officer
James S. Manuso, Ph.D., President, Chief Executive Officer and Vice Chairman of RespireRx, commented, “We are pleased to report to RespireRx shareholders the clinical development accomplishments that occured during the second quarter of 2016. These important milestones further establish the foundation for RespireRx’s growth going forward. Phase 2 clincal trials for CX1739 for opioid-induced respiratory depression and dronabinol for Obstructive Sleep Apnea are on schedule to conclude and report results in the coming months.”
Dr. Manuso continued, “To fund our clinical trial activities, we successfully raised additional equity capital during the three months ended June 30, 2016. We are continuing our efforts to fully fund our drug development activities, including our clinical trial programs, and to strengthen our balance sheet.”
Dr. Manuso concluded, “We encourage those interested in learning more about the current clinical landscape for treating respiratory diseases to follow continuing developments at RespireRx.”
Developments during the Three Months Ended June 30, 2016
Key developments during the three months ended June 30, 2016 included the following:

• The Company conducted a Phase 2A human subject clinical trial at the Duke University School of Medicine to evaluate the Company’s lead oral compound, CX1739, for the prevention of respiratory depression caused by remifentanil, a potent opioid, while maintaining its desired analgesic effects. The double-blind, placebo-controlled dose-ascending Phase 2A clinical trial completed dosing in June 2016 and was formally completed on July 11, 2016. The Company expects to complete a preliminary top-line analysis of the respiratory data by the end of September 2016 and to issue a final report on the results of the clinical trial by the end of December 2016.
• A Phase 2B clinical trial evaluating dronabinol in 120 patients with Obstructive Sleep Apnea is being led by University of Illinois researchers. The University of Illinois has indicated that recruitment for this clinical trial was completed during the second quarter of 2016. Final research results are expected to be published in the fourth quarter of 2016.
• The Company raised aggregate gross proceeds of approximately $115,000 from the sale of units comprised of common stock and warrants and approximately $762,000 from warrant exchange transactions effected in conjunction with the Note Exchange Agreements and Unit Exchange Agreements.
• The Note Exchange Agreements resulted in the elimination from the Company’s balance sheet of convertible notes with a principal amount of $303,500, plus accrued interest of $40,993.
• All outstanding shares of Series G 1.5% Convertible Preferred Shares (including accrued but unpaid dividends) were automatically and mandatorily redeemed via conversion into shares of common stock on April 17, 2016.
• The Company presented at and otherwise participated in a number of investor conferences.