For those not in the know you have only a few days left before pgl announces its results they have been working on this project for at least 12 years.
It might seem dear but it only has 40 mill shares on issue with 10% trading on the nasdaq
Brokers have reports for $20 to $50+ on this stock, why is it rising just before trial results are to be announced...well put 2 and 2 together! Maintain BUY recommendation with a target price of A$19.25
It doubled on the last set of results in december from $3.90 to $7.90....The stock surged by more than 70 per cent over a three-day period in mid-December after phase two clinical trials of its PI-88 showed that the cancer drug delayed the recurrence of liver cancer by 13 weeks in patients who previously had tumours surgically removed.
Specialist biotechnology analysts at Bioshares declared the study the best clinical outcome for an Australian biotech company in 2006.
Five trading days before the phII liver data release/presentation
Data for all 172 patients will be presented.
48 week trial data is revealed either this week or next in europe and the US for the phase 2 liver data
All the staff at john curtin medical centre where pi-88 was discovered have shares & are not selling until drug is approved
"Generally, the most value uplift one would normally get would be on completion of phase 2 trials," says Wald.
"That's when you've taken out most of the technical risk: the first time you know it works in the target population. If you really want to be a successful investor you've got to have a good idea as to the potential risks of the product not working in humans, or an idea of its potential side effects." Wald calls this "the inflexion point for risk/reward".
Phase 1 This is where you test for safety. This is mostly done on healthy volunteers.
Phase 2 It is then tested on patients who would require the drug, firstly testing for safety and then for efficacy. What are its side-effects, its toxicology?
Phase 3 A multi-centre, randomised, large-scale trial.
Once it gets past phase one trials, that probability rises to 10 per cent; after phase two, 50 per cent; after phase three, 90 per cent of success!!
PGL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
