PTX has traded in a narrow band between approx 8-10c. It is ill liquid and tightly held meaning not much buying or selling is needed to tip the scales. The latest presentation shows we have just completed the 1B breast cancer trial, which which started in 1H 2016 and was to be completed in the 2H 2016 and in a presentation on the 13 of April 2016 was meant to be one of the catalysts .
Now 1B AML trial has started and is in its early stages and is being closely watched by the market.
PTX 200 molecule is being used in breast,ovarian and AML trials, clearly with different drugs in varying combinations but as the presentation points out "• Lessons from other trials currently running? • In current Phase 1b breast & ovarian cancer trials for PTX-200, interim analysis showed encouraging efficacy".Hence the implications of a successful results of the breast cancer should have a flow on effect to the current AML trial and the market...lets hope it is not negative!
I would be surprised if Steven at the Roth International Conference did not hammer these points home.
Therefore the question is will we see some overseas buying coming in prior to the announcement expected(perhaps this week) or will the market wait for the results...a number of us have been very patient...is our time in the sun coming?
PTX Price at posting:
9.5¢ Sentiment: Buy Disclosure: Held
