The board are doing their best to keep the CYT proposal in a box. Perhaps they are trying a little too hard, its appears as if they might be a little desperate. Perhaps it has something to do with the answers to the question posed in below.
Extract - Bioshares 293:
1. How many licensing proposals were rejected by the Progen board for PI-88 and what was the value and terms of those offers?
2. Why was recruitment in the Phase III trial so difficult to achieve, given that a global contract research company was employed and that liver cancer is a disease that has a high prevalence?
3. Was the Phase III trial protocol changed in such a way that recruitment was hampered?
4. Was negative side effect data from the Phase II prostate cancer trial, released in February, a major contributing reason for the cessation of the Phase III trial?
5. Were any senior executives of the firm found to responsible for the failure to progress the Phase III trial?
The AVX merger could be more palatable to the boards as it may prevent them from having to answer these questions.
PGL Price at posting:
74.6¢ Sentiment: None Disclosure: Held
