Biotech Values

[mcbio]

PGNX update call (9/15/11)

1. PGNX focused broadly across the oncology space in in-licensing or acquisition efforts.

2. The internal PI3K program is apparently only at the research stage and they don't yet have an actual clinical candidate.

3. Regarding PSMA ADC for prostate cancer, PGNX will provide an update in the next few weeks with additional interim Phase 1 results. They have still not reached MTD for the drug and are seeing "good evidence of activity" and PGNX believes they are at the therapeutic window for the drug.

4. PGNX has been in discussions with many potential big pharma partners on the PSMA ADC but apparently wants to wait until they have the full Phase 1 results. PGNX believes that the antigen comprising the PSMA ADC has applications for other cancers beyond prostate.