RBC analyst Alan Ridgeway's outlook and investment opinion for OGXI is unchanged following Nov 5 conference call. He issued a report today which I can't yet read on my bb but will get to over the weekend.
This OGXI investment is very interesting. Never have i owned shares in a company that only had 6.1 million fully diluted. If the lead drug and rest of pipeline was crap, I would understand. But every peeling back layer after layer of the trial data....and understanding the lack of options for patients suffering from advanced prostate cancer...and considering this is a huge revenue generating indication....and taking into account the OGX-011 has a substantial efficacious synergy with taxotere...and OGX-011 is safe....considering all of these things, its hard to fathom that OGXI is sitting here now at around 170 million market cap. That cap is the bottom tier for its peers...peers that have yet to demonstrate a statisitcally signfiicant, robust overall survival.
Those four things....6.1 million shares...170 million mkt. cap...quality/safe drug that is Phase III ready...big indication. The valuation piece is not aligned yet.
I talk to a lot of people about OGXI, some real smart Canadian business people who invest in the market and are willing to take some risks.
They love the story but can't get past the technical nature of the new drugs associated with antisense technology in the biotech space.
Everyone judges a company by the companies it works with, and when OGXI partners with a leading big pharma company on the right terms, then OGXI will explode.
Trying to keep this in perspective, OGXI has been around for a decade, and the traction it has got in the last six months is astounding compared to what happened before. We sometimes overlook that traction because of our expectations about the future.
Six million shares is magical. Probably ten percent is short interest.
As Isisbeliever said today, the perfect storm is coming...I just wish I knew how to surf...