results good this is going to fly, page-11

They are going to present the results in the US this week aswell.

It will go up substanitially tomorrow here in AUS and then again in the states Monday night.

After the 30 week trial it rose over $3 in a day, this is the end of phase 2, the US fDA has agreed to fast track it to a phase 3, they obviously see it as very beneficial.

The results were better than most were expecting in my opinion and on completion of phase2 has historically been the best phase for the share price ie the biggest run.

The fund managers will need to pick up stock for their portfolio weightings as it will easily be in the asx 200 with a market cap at $14 of over 700 million.


"...Ong already has a $12.60-a-share discounted cash flow valuation on Progen but says this is conservative should the trial result be positive."

So what target will they give PGL now...$18?

There were no adverse side effects.

Anyone with liver cancer is going to want this drug.

In the United States approximately 10,000 new patients are diagnosed with primary liver cancer (hepatocellular carcinoma) each year. This is the most common type of cancer to arise in the liver.

The number of liver cancers diagnosed in the US and throughout the world is increasing at an alarming rate. The number of liver cancers will continue to increase over the next few decades. Most of the increase in liver cancer is attributable to patients who became infected with hepatitis B and C viruses. Hepatitis B and hepatitis C viral infections peaked in the 1950's to 1980's. Approximately 4 million (that is about 2% of the US population!) Americans are infected with Hepatitis C virus. People become infected with hepatitis viruses by coming in contact with infected person's blood. After 2 to 3 decades patients infected with these viruses can develop complications of long-standing (chronic) viral infection.

The complications of long-standing (chronic) viral infection include liver scarring (cirrhosis) and liver cancer. Liver cancer is a lethal cancer with untreated patients rarely surviving more than one year.

Progen's PI-88 liver cancer drug is billed as Australia's most advanced experimental cancer compound and is being talked about in the same breath as Genentech's blockbusters Avastin and Herceptin.

Progen, which has won backing from a few large fund managers of late, expects to release interim Phase II trial data for post-operative liver cancer this morning. This segment of the liver cancer market is a big one, and with no approved drug and no competitors, the potential market is very large.

Phase II trials indicate whether a drug works and overcomes the major hurdles such as toxicity, and generally drugs like this don't get this far unless they have something going for them.