Simply overvalued, with latest trial results a real disappointment. Success in multiple indications had been priced in, and now it is clear that PI-88 will (at best) be limited to a specialty niche market. They now desperately need to advance their next-generation drug, with prospects of profitability with PI-88 now well and truly dead.
Complete lack of efficacy in lung cancer trial casts doubt on Phase III approval. The market needs to adjust for the increased risk, and most analysts are suggesting a price target of $1.50 is close to fair value.
PGL Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
