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Progenics Pharmaceuticals, Inc. Message Board

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  • typecheck typecheck Jan 23, 2013 1:50 PM Flag

    Any thoughts on PGNX acquisition?

    don't understand either. Dilution is not really a big deal. The problem is faster burn rate. Does the acquired company come with any cash at all?

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    • Typecheck, I was wondering the same thing, does the Molecular Insights come with any cash? PGNX said there was no debt, but we need to know how much cash they bring. Clearly PGNX is banking of PSMA as being a key prostate cancer and solid tumor marker.

      cafisherman, I would like to hear what PGNX has to say about the time frame for Azedra approval and what kind of cash we can expect. I definitely worry more about the cash burn than any dilution from this deal.

    • The company had zero cash (that was the reason they were up for sale, no money to run trials). Dilution is a big deal in that it waters down the equity I have in the company.

      • 1 Reply to ca_fisherman
      • Zero cash. Darn.

        There is no hope to bring any of the products to market anytime soon. The Azedra drug takes 6 years to just run a phase II trial. However, the imaging agent may be faster and its phase II result is expected in May this year. It takes a short time to get it done. I guess prostate patients are abundant and imaging is quick to verify through biopsy and blood work. Maybe PGNX is banking on the imaging agent more.

        In terms of dilution, this is really not too significant. Faster burn rate is worrisome since PGNX is now running 3 phase II trials instead of 1.

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