Replies to post #114752 on Biotech Values

[mcbio]

also, the ceo seemed pretty excited to announce phase 1 prostate cancer results. hopefully something encouraging will be announced

It's clearly the one drug outside of Relistor in their pipeline that they seem to be most excited about. During the last CC, they talked about spending their freed up cash (now that Relistor expenses have been offloaded on Salix) on further development of this drug. So, one might think there's something in the data they've seen that they like. We shall see. As I said before, PSMA is a target that has been around for awhile and there have been several failures (including MLNM using IMGN technology), but perhaps PGNX has differentiated their drug enough using SGEN and Abgenix/AMGN technology. My expectations are tempered but I'll hope for the best and, again, given where the valuation is on the stock I don't think it's likely that the share price is going to tank if the news is tepid.

Separately, one of the other reasons I decided on PGNX was after doing a little more DD, I found out that one caveat has been that PGNX has Phase 2 data on oral Relistor but has not released that data. The bearish case is that the data is bad so PGNX doesn't want to release it. However, during the Salix CC, Salix confirmed that it had seen the Phase 2 oral Relistor data and was "quite impressed." They also reasoned that the reason PGNX had not disclosed that data was because they were waiting on additional patents to issue so they did not want to tip their hand any more on the drug until new patents are issued.