Biotech Values

[vinmantoo]

<PGNX likely needs to raise some cash IMO. No approval cost them a $40M milestone and now they need more clinical data. It also delays oral Relistor filing. I will wait for an offering.>

If another clinical trial is needed, PGNX won't need to raise cash for it as Salix pays for all trial expenses. There will also be a $50 million milestone due to PGNX when the oral Relistor formulation is approved, and it should be submitted for approval in a few months. They don't need to make a stock offering now. Perhaps if the anti-PMSA antibodies show some efficacy, that would be a good time for an offering but not now.