The Golden Lounge

[cagney]

PTII $1.58/$1.62 could be fireworks at the open tomorrow...

From a recent PR, PAII(now PTII) holds 11.2 million shares in Pharmaxis (PXS: Australian Stock Exchange)

PXS adr's just listed on Nasdaq, and are up 10% today.
http://biz.yahoo.com/prnews/050831/hkw004.html?.v=7

PXS shares closed $2.41 in Australia. The Cystic Fybrosis
news was released after the bell so possible huge gap up tomorrow.

I'm watching for a big gap up on these shares:
http://finance.yahoo.com/q?s=pxs.ax&d=t

$2.41 x 11.2m = ~$22m

Figuring in the recent PTII R/S, there are ONLY 5m o/s, probably less than 1m in the float!!!
That would figure PTII worth ~$4/share on the PXS shares alone,
even without the upcoming gap figured in, or their oil biz that may get a fast jump start according to recent statements:

David Stadnyk, President of PTII said, "Tomorrow's results from the cystic fibrosis trials are truly a key milestone for the continued accelerated development of our pharmaceutical investment. If the results are positive the company will be past the remaining key hurdle to attracting US investment capital and funding. Both the short-term and long-term impact to PTII's bottom line could see a multi-million dollar investment increase. As the investment increases this allows the company to pursue larger oil and gas interests domestically and internationally.We are excited and optimistic about these bell-weather results that will allow our investment to take a giant step forward in the globalization and internationalization of our pharmaceutical investment's business".