Progenics Pharmaceuticals Inc. (PGNX)

[chmcnfunds]

Maybe associated with the reversal today (together with the bio reversal):
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3 Stocks That Could Double Your Money
[Motley Fool]
Cory Renauer, The Motley Fool
Motley FoolJuly 26, 2018

It isn't that hard to double your money if you're patient. If you had sunk money into an ETF that tracks the S&P 500 at the beginning of 2013, you would already have accomplished this feat without risking much in the process.

Developing new drugs to treat severe diseases can lead to overnight riches, and losses. These three biotech stocks could double impatient investors' money in the not so distant future if those investors don't mind accepting a great deal of risk. Here's how these three fledgling drugmakers will try to make it happen for their shareholders.

Progenics Pharmaceuticals, Inc.: Relieving pressure

Progenics Pharmaceuticals, Inc. (NASDAQ: PGNX) is eagerly awaiting an approval decision that the FDA is expected to hand down by the end of July. Investors are a little nervous because the agency delayed Azedra's decision earlier this year to allow for a late addition of some non-critical information.

If approved, Azedra would become the first available treatment for two rare forms of cancer that affect the adrenal glands and often cause sky-high blood pressure. During a trial underpinning Azedra's application, patients were able to control their blood pressure with less help from other drugs. More importantly, patients that were treated with two doses survived more than twice as long as those given a single dose.
Pills on top of cash.

Right now, Progenics sports a modest $558 million market cap that could double if Azedra eventually becomes standard care for patients with pheochromocytoma and paraganglioma. If approved, gaining popularity could take some time, which Progenics has plenty of.
Why this one's my favorite

Geron and Galectin could double, but they could also get pounded flat if their lead candidates suffer any mishaps. Progenics, though, can depend on a modest revenue stream from Relistor, plus it has a prostate cancer imaging agent entering late-stage development. Relistor's a drug for opioid-induced constipation that doesn't exactly make ends meet for Progenics, but it has limited the company's losses to $48 million over the past year.

Progenics finished March with around $87 million in cash, and Azedra's aimed at a small, but highly motivated population. If this small biotech needs to tap investors for more capital to launch it successfully, it probably won't need much.
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https://finance.yahoo.com/news/3-stocks-could-double-money-125700832.html?soc_src=social-sh&soc_trk=tw

PGNX