Much of the share price increase was on the expectation their drug would be for multiple indications. Now that the lung cancer trial has failed this is proving to not be the case. Also it casts some doubt over the drug's mechanism.
Their is one other factor: a new drug has emerged that has had not one but TWO trials cut short because it was so impressive. This drug by Onyx in the States has got the significant first mover advantage in the liver cancer arena.
Put all this together and the picture looks increasingly bleak.
PGL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
