NeurogesX, Inc. (NASDAQOTCBB:NGSX)

Let's see, how am I going to defend this impulsive green thumb? NeurogesX is garbage, but the last nail isn't in the coffin yet. Having failed to interest physicians and patients in a capsaicin patch, the company is now progressing the development of a capsaicin ointment. Haven't these been around for years? I'm sure there's some important difference I could learn about if I cared.

The company's long-term financial picture is dismal (-68M in shareholder equity) but for the short-term they have 34M in available cash plus whatever they were able to scrape together from cheap warrants while I was writing this pitch. Bottom feeders seem eager to push this stub back up to 0.6 or so given the 23% jump today on company PR stating the FDA had agreed to an end of phase II meeting for the capsaicin ointment. I mean, does the FDA often refuse to have a meeting? That's actually considered a catalyst? Whatever. I'm looking for 15-20 pts and then back to the red thumb as we careen towards bankruptcy. If I'm wrong about this leg back up, NeurogesX goes gavel without me.