I think he presents some data on Azedra today. I am sure he will address the move to the One World Trade Center in the upcoming ER Call. But today should be mostly about Azedra.
Amazing how many spammers like you arise when the market tanks. You #$%$ are preying on people's fears in the hopes they will panic. I despise vermin like you.
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Several hedge funds have made changes to their positions in the stock. Shinko Asset Management Co. Ltd. increased its stake in shares of Progenics Pharmaceuticals by 68.4% in the fourth quarter. Shinko Asset Management Co. Ltd. now owns 140,191 shares of the company’s stock valued at $859,000 after buying an additional 56,941 shares during the period. Acadian Asset Management increased its stake in shares of Progenics Pharmaceuticals by 36.8% in the fourth quarter. Acadian Asset Management now owns 438,402 shares of the company’s stock valued at $2,687,000 after buying an additional 117,995 shares during the period. Finally, Fisher Asset Management increased its stake in shares of Progenics Pharmaceuticals by 68.4% in the fourth quarter. Fisher Asset Management now owns 140,191 shares of the company’s stock valued at $859,000 after buying an additional 56,941 shares during the period.
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No way they buyout CYDY. If I remember correctly, they divested 140 when Baker came in to focus the company on oncology. Just consider 140 as the other cash cow the company has to go along with Relistor. As for buying CYDY, I have thought about it, but currently that company's greatest strength is diluting shareholder value.
The Azedra trial is almost finished.. Like I said, the phase 3 will be done in the real world..PNGX will be collecting revenue from Azedra during "phase 3" so that wont be an issue.. You may be right about PGNX needing the $50M to run the 1404 however, $50M is only the Oral approval milestone payment.. They still get another $150M in sales milestone owed to them by VRX plus 15% royalties. So I don't think cash is going to be something PGNX is going to be in dire need of. I know that PGNX doesn't want to partner up with the 1404 and from what I read it wont be terribly expensive to run because, it's just an imaging med. They will get results pretty quickly. It's not like they have to monitor these patients for months on end to see if the drug is working.. It's taken when they go in for a scan and get the image of the cancer. But the amount of patients in the trial that will be costly. It's the move to NYC and getting a lease in One World Trade Center for 26K worth of office space. They only have a hand full of office employees, the lab employee's will most likely stay in Terrytown. Why do you need 26K of space and a $2.5M a year rent payment unless you know some good stuff is coming up. That is the strange thing to me was that move. They obviously have big growth on their minds so I guess we see what happens. I still think a BO of CYDY could happen. But we will see.. I guess we see next week about Azedra.. Phase 2 results should be done and I hope to hear about those results next Monday. Have to be a bit more patient. Cheers!!!
According to the October 2012 by CYCY they pay a 5% royalty to Progenics.
Progenics needs every penny of the $50M to pay for 1404 trial and to finish Azedra. Maybe the M&A guy handled the imaging firm they just bought.
I'm long Progenics, I think 2016 will be a nice year, with Relistor approval, Azedra filing. $300M market cap is too low by half.
PGNX is a very misunderstood stock. I can tell from some of the posts on here. First off Azedra has been fast tracked, it is also an orphan drug and is under an SPA. The FDA is not going to require a full phase 3 for Azedra because of the dire need of the drug. What will happen is that the FDA will give the go-ahead to Azedra after phase 2 results.. Phase 3 will basically be completed in the real World. Where PGNX and the FDA will monitor patients taking Azedra over the next year or so and then come up with topline results that way. But Azedra will already be on the market during that time.. As for the CYDY, PGNX gets a 15% royalty and milestone payments.. Now CYDY is a penny stock with about a $50M market cap.. What I think will happen is after Oral Relistor gets approved this April, PGNX will take the $50M in milestone payments it will receive from VRX for Oral Approval and go ahead and BO CYDY. This would explain a few things A.) They recently hired an M&A specialist to be PGNX legal council and he is also VP.. Then they hired a CFO who specializes in creative financing and B.) PGNX just signed a pretty big lease to move to NYC into One World Trade Center. So with those two moves I am expecting PGNX to concentrate on growing their company and I think a BO of CYDY would be a very smart move to do. So maybe PGNX is taking a page from the playbook of their Relistor Partner VRX. We will see and of course all of this is just my opinion on what MAY happen. But putting the pieces together it looks like my theory on what is happening may be at least plausible.
I have been a shareholder of PGNX for quite a few years and have built up a pretty good size position. I was not paying that much attention to PRO 140, until I saw some post on here. After my DD, I have building my position in CYDY since 9/11/15. Glad the discussion came up and continues for other PGNX shareholders to still participate.