jq1234,
The Relistor oral phase III isn't that far along, so I think there will still be significant costs paid by Salix and this remaining a financial overhang from PGNX. What I also like about the deal it that PGNX now has cash, and thus the option to run a phase III PRO140 trial if they desire. Perhaps PGNX will step up the pace to initiate human trial using their monoclonal antibodies to the C. difficile toxin. Now if only the PGNX management would finally realize that it is in everyone's best interests to hold quarterly CCs.
I sold about 25% of my PGNX over the past quarter or two because I was concerned that a failure to make a deal or Relistor would cause the company to crater, and I used the cash to buy some EXEL, IMGN and MNTA. The first two have done well since I bought them so I feel like it was a good move, and I feel pretty good about MNTA. In any event, the Salix deal has clearly placed a floor under the price of PGNX stock, so I feel a hell of a lot better about my remaining shares. I do tip my hat to you and feel a bit of jealous when I read you sold your PGNX at $15.
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