Burning cash fast, with no real prospects of a return on this excessive spending. A correction should soon come to re-rate Progen to an sp around $1.50. With the SPA now gone, and the trial at the mercy of the FDA, they are set for a tough and long road ahead. The rise of the wonder drug Nexavar needs to be factored in, yet we have not seen the sharp correction downward that is warranted. The market can not ignore the success of Nexavar for much longer. Look out below.
PGL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
