Replies to post #146279 on Biotech Values

[mcbio]

PGNX likely needs to raise some cash IMO. No approval cost them a $40M milestone and now they need more clinical data. It also delays oral Relistor filing. I will wait for an offering.

I tend to agree though I do think their anti-PSMA drug for prostate cancer may generate interest down the road. Seems to be showing early signs of an effect. Not sure I'll get back in the name though. Relistor doesn't seem to be in good shape now, pending further clarity, and that was a key drug for PGNX.

[vinmantoo]

<PGNX likely needs to raise some cash IMO. No approval cost them a $40M milestone and now they need more clinical data. It also delays oral Relistor filing. I will wait for an offering.>

If another clinical trial is needed, PGNX won't need to raise cash for it as Salix pays for all trial expenses. There will also be a $50 million milestone due to PGNX when the oral Relistor formulation is approved, and it should be submitted for approval in a few months. They don't need to make a stock offering now. Perhaps if the anti-PMSA antibodies show some efficacy, that would be a good time for an offering but not now.