Thanks for the information.
I have started a very small position here, but hesitate to make it much larger. When you have 20% of the float sold off, down 30%, that does not speak well for the future of the stock. I would be more bullish if the strike price were lowered and no one sold, but it looks like they sold quickly. This tells me the warrant holders were probably complaining to management that they wanted out, since they had a pretty good idea the share price would never hit $4.50.
All in all, it looks like PGRX is done. I took a small gamble, but I highly doubt it will pay off. GLTAL.
