FORT LEE, N.J.--(BUSINESS WIRE)--May 15, 2006--Neurologix, Inc. (OTCBB: NRGX - News), a biotech company engaged in the development of innovative gene therapies for the brain and central nervous system, announced today its financial results for the first quarter ended March 31, 2006. For the quarter ended March 31, 2006, the Company incurred a net loss of $1.5 million, or $0.06 per diluted share, compared with a net loss of $897,000, or $0.04 per diluted share, for the prior year period. The increased loss is primarily due to an increase in research and development expenses of approximately $69,000 and an increase in general and administrative expenses of approximately $517,000. These increases are directly attributable to the progress and expanded operations of the Company in its programs for Parkinson’s disease, epilepsy and Huntington’s disease, as well as an expanded administrative infrastructure to support these operations. The Company had cash, cash equivalents and short-term investments of approximately $3.3 million at March 31, 2006.
