Biotech Values

[ghmm]

Progenics Pharmaceuticals Announces Strategic Focus on Oncology

http://finance.yahoo.com/news/Progenics-Pharmaceuticals-pz-719206529.html?x=0&.v=1

Strategy. Progenics will focus on oncology, building on its PSMA ADC clinical program and its multiplex kinase inhibitor research program. The Company plans to increase the financial resources and personnel it dedicates to these programs and will seek to in-license complementary opportunities in the oncology space. The Company will discontinue its efforts in virology and infectious diseases and seek to out-license those programs.

I did a quick listen of the call but since I don't follow the company closely wonder what others think about it. The one thing that would concern me on the call they talked about possibly merging with another oncology company out there. Its one thing to focus on one area when you already have expertise but to buy/merge is a bit of a risk in my book.