Valuation only sub $100 mil enterprise value and extremely low float at 5-6 mil shares. In the last call company said cash is good through 2011. TEVA is fully funding three large Phase 3 trials for OGX-011, two of which are in prostate cancer and the third in NSCLC.
The failure of Avastin's PH3 trial for front-line HRPC (Avastin + docetaxel vs docetaxel alone) last Friday was very bullish for OGXI as OGX-011 is targeting the same patient group in one of its three trials soon to be commenced.