OTC Bulletin Board S & P Company Insight for CORDEX PHARMA INC
Profile
	Business Summary: Cordex Pharma, Inc., through its subsidiary, Duska Scientific Co., develops cardiovascular medicines based upon the pharmacology of adenosine 5'-triphosphate (ATP) and nitric oxide (NO).   Address   470 Nautilus Street, Suite 300   La Jolla , CA 92037   Phone: 858-551-5700   Fax: 858-551-5704   Website: http://www.duskatherapeutics.com Auditor   STONEFIELD JOSEPHSON, INC. Transfer Agent   U.S. Stock Transfer Corp. Employees:  5 ShareHolders:  81 Founded:  1999 Domicile:  Nevada
Background
	Cordex Pharma, Inc., through its subsidiary, Duska Scientific Co., develops cardiovascular medicines based upon the pharmacology of adenosine 5'-triphosphate (ATP) and nitric oxide (NO). The company's product portfolio includes ATPace, which is used to treat paroxysmal supraventricular tachycardia; CDP-1050, a once-a-day tablet formulation to restore the redox-NO balance in patients with chronic heart failure; and Vagonixen, a drug to treat chronic obstructive pulmonary disease and chronic cough. Its products also comprise ATPotent, a drug for the treatment of sperm of infertile males in conjunction with in vitro fertilization and intra-uterine insemination procedure; and Ocuprene, a drug for the treatment of glaucoma. The company has strategic alliances and collaborative arrangements with Medtronic, Inc. to support Phase II and III clinical trials of ATPace; and Cato Research Ltd. to provide clinical research management and regulatory affairs support for Phase II and Phase III clinical trials of ATPace. Cordex Pharma, Inc. was founded in 1996 and is based in La Jolla, California. History:  INCORPORATED in Nevada Nov. 2, 1999, as Shiprock, Inc.; name changed to Duska Therapeutics, Inc. Aug. 24, 2004; and to Cordex Pharma, Inc. Jan. 28, 2009. On Aug. 30, 2004, the company acquired all of the outstanding shares of Duska Scientific Co. through a merger in which a wholly owned subsidiary of the company merged into Duska Scientific. In the merger, the company issued 17,727,801 Common shares to the stockholders of Duska Scientific. Duska Scientific was founded as a Delaware corporation in 1996. It commenced operations in 1999.   Subsidiaries: Duska Scientific Co.
Management
	Management Officers Position  James S. Kuo Chairman, Chief Executive Officer & Investor Relations Contact  Amir S. Pelleg President, Chief Operating Officer & Chief Scientific Officer  Wayne R. Lorgus Chief Financial Officer & Chief Accounting Officer  Patrick  Lin Secretary Directors  H. David Coherd  Steven M. Dinh  Shepard M. Goldberg  Manuel F. Graiwer  James S. Kuo  Philip A. Sobol  Alan J. Tuchman
Annual Report
	Annual Report   Income Statement   2008 2007 EXPENSES General and Administrative (1,906,008) (2,201,523) Research and Development (1,567,795) (370,382) Interest Expense (596,172) (207,009) Amortization of Debt Discounts and Debt-issuance Costs (3,944,547) (1,175,556) Interest Income 44,058 53,740 Earnings before Taxes (7,970,464) (3,900,730) TAXES AND OTHER EXPENSES Net Income (Loss) (7,970,464) (3,900,730) SUPPLEMENTARY INFO Operating Income (Loss) (3,473,803.00) (2,571,905.00) Basic and diluted EPS - Continuing Operations (2.11) (1.35)   Balance Sheet   2008 2007 ASSETS CURRENT ASSETS Cash and Cash Equivalents 1,545,822 4,417,481 Prepaid Expenses and Other Current Assets 30,374 33,169 Restricted Cash - 196,057 Total Current Assets 1,576,195 4,646,707 NON CURRENT ASSETS Property and Equipment, net 6,950 7,617 Other Assets 936,513 2,081,726 Total Assets 2,519,659 6,736,050 LIABILITIES CURRENT LIABILITIES Accounts Payable and Accrued Expenses 508,267 431,236 Accrued Expenses 3,000 7,943 Notes Payable 23,589 15,991 Convertible Notes Payable, Net of Debt Discount 3,608,535 - Accrued Stock Units Issuable - 68,097 Total Current Liabilities 4,143,391 523,267 NON CURRENT LIABILITIES Long-term Liabilities - 807,700 SHAREHOLDERS' EQUITY Common Stock - Par Value 3,893 3,640 Additional Paid in Capital 18,668,652 17,727,256 Deficit Accumulated during the Development Stage (20,296,276) (12,325,813) Total Shareholders Equity (1,623,732) 5,405,083 Total Liabilities & Shareholders Equity 2,519,659 6,736,050
Interim Report
	Interim Report      Data Not Available
Pro Forma Report
	Pro Forma Report      Data Not Available
Quarterly Report
	Quarterly Report Information      Quarterly Revenue, US$ Year Quarter Revenue   2007   3 Nil   2006   1 Nil   2006   2 Nil   2006   3 Nil   2005   1 Nil   2005   2 Nil   2005   3 Nil   2005   4 Nil   2005   Full Year Nil   2004   3 Nil   2004   4 Nil   2004   Full Year Nil     Quarterly Net Income, US$ Year Quarter Revenue   2009   1 (2,040,000)   2008   1 (1,990,000)   2008   2 (1,810,000)   2008   3 (1,770,000)   2008   4 (2,410,000)   2008   Full Year (7,970,000)   2007   3 (970,000)   2007   Full Year (3,900,000)   2006   1 (830,000)   2006   2 (370,000)   2006   3 (220,000)   2006   Full Year (2,000,000)   2005   1 (450,000)   2005   2 (560,000)   2005   3 (620,000)   2005   4 (1,130,000)   2005   Full Year (2,759,800)   2004   3 (180,000)   2004   4 (590,000)   2004   Full Year (1,560,800)     Quarterly EPS, US$ Year Quarter Revenue   2009   1 (.52)   2008   1 (.54)   2008   2 (.48)   2008   3 (.47)   2008   4 (.62)   2008   Full Year (2.11)   2007   1 (.30)   2007   2 (.10)   2007   3 (.28)   2007   4 (.61)   2007   Full Year (1.35)   2006   1 (.80)   2006   2 (.40)   2006   3 (.20)   2006   4 (.56)   2006   Full Year (1.81)   2005   1 (.40)   2005   2 (.60)   2005   3 (.60)   2005   4 (1.20)   2005   Full Year (2.80)   2004   1 (.83)   2004   2 (.29)   2004   3 (.20)   2004   4 (.80)   2004   Full Year (2.00)
Stock Data
	Capitalization as of 03/31/2009:     Authorized Shares Outstanding Shares Preferred $0.001 par 5,000,000 None Common $0.001 par 125,000,000 3,892,841   LONG TERM DEBT: None.   Common $0.001 par   Stockholders:  12/31/2008, 81. Transfer Agent:  U.S. Stock Transfer Corp.   Glendale , CA   OTC Bulletin Board( Primary): CDXP   Exchange Year High Low OTC Bulletin Board 2008 0.7400 0.1600 OTC Bulletin Board 2007 1.0500 0.1500 OTC Bulletin Board 2006 0.6000 0.0270 OTC Bulletin Board 2005 3.0000 0.4200 OTC Bulletin Board 2004 1.8000 1.8000 OTC Bulletin Board 2003 2.5000 1.0100 OTC Bulletin Board 2002 1.7000 1.2500   DIVIDENDS: Common $0.001 par: No cash. Common reverse split 1-for-20, Mar. 26, 2007.