Progenics Pharmaceuticals Inc. (PGNX)

[vinmantoo]

I agree about this stock. Makes no sense. Even the way the market reacted after approval. Definitely strange. Manipulative? But then there were just to many institutions involved as holders. So I would tend to believe no manipulation as such.

Now we know why as 1404 failed to hit one of the primary end points. This shows PGNX was smart to issue new shares at $8.25 after Azedra approval, put money it the coffers as insurance in case problems arise.

This is very disappointing news but fortunately for PGNX shareholders, Azedra sales will begin in Q3 or early Q4. That means the damage from 1404 failure should be short lived or lessened or so we hope.