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Progenics Pharmaceuticals, Inc. Message Board

  • oculusdoc Apr 9, 2014 2:00 PM Flag

    Promising future

    I listened to Mr. Baker’s presentation at the Needham Healthcare Conference yesterday at its entirety, and I have to say that it was the first time in a longtime that I felt he did justice for his company. He laid out the pipeline of products at work, short and long term plans for each, and the best of all, he revealed that they were in the process of “talking” to potential partners which is a significant step from “looking” for partners as he reported at last conference call. In the past, I felt the leadership of PGNX lacked due diligence in responding to undue criticism and inaccurate reporting, and they failed to seize the opportunity to promote the company and their products, but for better or worse, one thing I notice is that they are cautious and conservative in reporting “good news”. May be this falls in line with Mr. Baker’s statement in the past that he prefers to under-promise and over-deliver. I have renewed confidence in PGNX and their leadership. I’ll continue to be patient.

    Sentiment: Strong Buy

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    • Doc

      I have owned this stock a long time. I hope they do under-promise and over-deliver, but that will be a new construct for this company.

      Nevertheless, given what they have going, it will be unlikely the stock does not go up many fold. The imaging agent is just about a lock to be approved. It will do more than 2 million units a year just in the U.S. Can they make $250 per unit? I know it costs $1,000 per MRI and this test will work better. What multiple do you put on $500MM a year in profit?

      Azedra is a lock. Is it a $100MM business? Maybe.

      The wild card is Relistor. Not because it is long run important, but Relistor approval for OIC means PGNX probably does not have to sell more stock in the next two years.

      PSMA ADC and 1095 are the double bonus jackpot....they could put the stock at $400 a share.

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