Glad to be in the same stock with you. Just a reminder of the deal they have with SLXP which is a very impressive company:
"Salix Pharmaceuticals Ltd. said Monday that it will pay $60 million up front – and possibly hundreds of millions of dollars long term – to license a constipation drug named Relistor from Progenics Pharmaceuticals Inc.
In addition to the upfront payment, Morrisville-based Salix also could pay up to $90 million in U.S. development milestones, according to a written statement issued by the companies. In addition, Salix may pay sales-based milestones of as much as $200 million plus royalties from U.S. sales, as well as 60 percent of all revenue received from non-U.S. sublicensees.
Read more: Salix pays $60M to license Relistor from Progenics | Triangle Business Journal"
It's very impressive that SLXP would give so much to PGNX under this deal. PGNX has a market cap of around $150 million which is ridiculously low given this deal.
Btw, if you are looking for another bio play, i suggest AMRN. i like that one a lot too. Bought in around $5 and still holding
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