With the panic selling and subsequent decimation of PGNX stock price brought on by Brad Klein, an overly anxious analyst with poor analytical skill, who distributed false information about the safety and efficacy of PSMA ADC simply based on abstract, not the real presentation at the Genitourinary Cancers Symposium, people are overlooking another upcoming catalyst event for PGNX – ADCOM meeting for sNDA for expanded therapeutic use of Relistor, a medicine already FDA approved for relief of opioid induced constipation, the most common adverse effect of opioid analgesics that adds misery to those already dealing with cancer pain. Progenics and Salix have been diligently working with FDA for the past 2 years for the success of expanded approval, and understanding ADCOM members’ appreciation for medicine that has potential to improve the quality of life for those stricken with terminal illness as well as those suffering from degenerative diseases requiring chronic opioid therapy, there is extremely high probability this will be approved which will provide significant financial boost from sales and payment from Salix.
Someone understands the data. I'm a research scientist and am shocked at the lack of understanding or is it that some people just have other agendas? The success PGNX has had with PSMA ADC and the imaging agent will propel this stock much higher. Right now the prostate cancer doctors are pushing the use of MRI with active surveillance for PC patients. Wait until the data just presented on the imaging agent becomes generally known. The PGNX imaging agent will be the imaging choice. Read the data. The FDA should put the imaging agent on a fast track. Also, this imaging agent may make it possible to combine imaging and radiation like tomotherapy which can radiate many tumors at the same time to treat many metastatic PC patients who are castrate resistant. And, wait until the PSMA ADC new trials data using patients who are not severely compromised proceed. The success should be even greater because they won't have nearly as much cancer in their bones and problems like neutropenia should be much less. The problem for a short time are the shorts. I read that they have only 1.73 days to cover. They are doing everything they can to bad mouth this stock so that they can buy back the stock as low as possible. Don't give into them.
I don't understand the lack of PR for this company. Needham upgrades it to a buy, yet the headlines don't give the reason for the upgrade. The reason being the positive data on both the imaging agent and PSMA ADC. The only headlines which seem to make the news are the nay sayers. Don't need huge gaines over night but would like to see more positive progression.