Happy buying. I hope it works out for you but I see several problems in the short to medium term. My personal price target is in the $1.50-1.70 range for two reasons: the lung cancer failure has greatly lessened (or even shattered) the opportunities for PI88 in multiple conditions and also the intention to market Nexavar in the resectable market thus leaving Progen with a second class drug. It is likely Nexavar will already be established as a post-resection treatment before the Phase III results are in and it's oral administration gives it a massive advantage over similar drugs.
The next six months will see the PGL sp fall to cash value. They better advance the preclinical program fast otherwise they are in serious trouble.
PGL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
