Dohh. :o
Up on Study
http://www.thestreet.com/_yahoo/newsanalysis/biotech/10327619.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
News & Analysis: Biotech
Email This Story Print This Story
Study Propels Progen
By Althea Chang
TheStreet.com Staff Reporter
12/13/2006 10:01 AM EST
Click here for more stories by Althea Chang
Shares of drug developer Progen Industries (PGLA - commentary - Cramer's Take) jumped 42% after the company announced positive results on its experimental liver cancer drug.
The stock was up $1.25 to $4.20 Wednesday morning.
In ongoing trials, patients who were given the drug PI-88 following removal of a cancerous tumor went 76% longer before tumor recurrence when compared with patients not on the drug. While it took patients on the drug 30 weeks before the tumor grew back, in patients who didn't receive the drug, tumors recurred after 17 weeks.
"These results are clinically very encouraging," said Professor John Zalcberg, chief clinical advisor to Progen. "It is well known that once liver cancer recurs, the patient's survival prognosis is poor and the quality of life deteriorates dramatically."
The company plans to conduct further analyses at 48 weeks, and data are expected in the second quarter of 2007. The Brisbane, Australia-based company is currently preparing for a larger phase III trial of PI-88 for the treatment of liver cancer in Asia.
On fire... :o
nice!!! aplaud
Down almost 20% today but still looks healthy.
Watching for a possible STEPS entry.
Applaud.
laterz...Jody
Second stage breakout happening today. Up 9% and climbing.
;D
This baby is ready to rally!
4.83
Get ready my friends!
Watching for STEPS entry.
lol.. got halted. Wonder why. :-X
If you can read you should know why!
Announcement with the trading halt details is available for everyone to read.
...........and it is good news.
Any comments on the distribution?
STEPS entry qualified? ???
GLTA...Jody
sell the news?
Looks to be sitting on support, imo. Comments welcome.
I did notice it was back above the 9 and 13 sma's.
Could be running ??? currently up to $4.95 (+9%)
RADAR
<< Anyone still following? >>
You bet and lots of them and for the much longer term that a short 'day trade kind of affair'
This is not an ideal stock to short term trade, but if you are looking for something to go wild on further announcement then you got it here in PGLA.
"We believe PGL had the upper-hand at the negotiating table.
Up until today's deal, PGL owned 19.9% of the issued capital of Medigen with the holding subject to an anti-dilutive clause. Removal of PGL from MBC's share register will permit the company to actively pursue fund-raising in the absence of restrictive anti-dilution holdings. We believe that PGL has used the non-dilutive restriction as a strategic advantage to reach favorable settlement with MBC. The outcome of these negotiations demonstrate that current PGL management has the ability to perform at the negotiating table. This bodes well for the company in the context of commercialization of PI-88, as progress will likely involve discussion with potential larger pharmaceutical partners at some stage in the future."
Overall, today's deal is positive for PGL shareholders.
Maintain BUY.
Target price:A$19.25
<< volume sucks >>
Perhaps that is so to you if you didn't know what you bought.
The volume is in fact up compare with past years.
Why is the volume so low ?
Holders are not selling and the float is low –
~45mil in total (PGL & PGLA) of which only ~3mil is in PGLA format.
So what do you expect?
Why are holders not selling?
This is a great stock to hold.
And we are hanging out for a much much higher stock price – that is why!
Playground for day trippers is here at MTSX
http://dsc.discovery.com/fansites/future-weapons/weapons/zone1/metal-storm.html
BANG! ???
PGLA will rocket out the starting gate on Monday open. ::)
Go to
www.progen.com.au
for the latest announcement and significant news released after the close of ASX.
I made an investment in PGLA today.
I am looking forward to seeing the data on their Phase-II study of PI-88. If they did not have significant good news, I do not believe they would wait until the conference to announce it. This looks very promising.
::News clip::
"Progen Industries Limited (ASX: PGL; NASDAQ: PGLA) is pleased to announce that its PI-88 Phase II liver cancer data has been accepted for late breaking news presentation by the European Association for the Study of the Liver (EASL). Progen will also be presenting the results of this liver cancer trial at the American Association for Cancer Research (AACR) Annual Meeting 2007."
Cheers,
labatts6254,
You made a very sound investment choice by buying Progen stock.
Just stay tuned and see the value grow over time.
This is a major growth opportunity investment.
How does $10 and then $20 sound?
With more to come. ;)
This is a link to a good source for company related information.
www.progen.com.au
Having a conversation with yourself?
422fwhp, I assure you I do not know busker, but I really appreciate him bringing this stock to my attention.
This company has almost a year of trial data available for their phase-II study of PI-88; and the fact that they made plans for a "breaking news presentation" I think we could be awaiting a pretty substantial update come April.
While the volume is currently low, it will be hard to load up on this stock, but well worth holding for the outcome of the conference presentation in April. Good luck finding shares. ;)
Cheers, thanks again busker.
Australia's Progen Industries files $60 mln stock, warrant shelf
http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20070322:MTFH55504_2007-03-22_14-20-50_WNAS4726&type=comktNews&rpc=44 (http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20070322:MTFH55504_2007-03-22_14-20-50_WNAS4726&type=comktNews&rpc=44)
Dilution?
March 22 (Reuters) - Australian biotech company Progen Industries (PGL.AX: Quote, Profile , Research) on Thursday said it may periodically sell up to $60 million in ordinary shares and warrants.
The Nasdaq-listed company said in a registration statement with the U.S. Securities and Exchange Commission (SEC) that it will use the proceeds for general corporate purposes, including conducting late stage trials of PI-88 for liver cancer and other indications, portfolio development and possible acquisitions.
Under a shelf registration filed with the SEC, a company may sell securities in one or more separate offerings with the size, price and terms to be determined at the time of sale. (Reporting by Kavita Chandran in Bangalore)
Progen Files F-3 Shelf Registration with Securities and Exchange Commission
SYDNEY, Australia, March 22 /PRNewswire-FirstCall/ -- Progen Industries Limited (ASX: PGL - News; Nasdaq: PGLA - News) today filed an F-3 Shelf Registration with U.S Securities and Exchange Commission.
When effective, this registration statement will allow Progen to issue, from time to time, up to $60 million in any combination of its ordinary shares and warrants over the next two years in the U.S.
The terms, amounts and pricing of any future issue of securities will be determined and announced at the time of the offering.
Any offering of common stock covered by the registration statement will be made only by means of written prospectuses and prospectus supplements. The registration statement relating to the common stock has been filed with the Securities and Exchange Commission, but has not become effective. Common stock may not be sold and offers to buy may not be accepted prior to the time that the registration statement becomes effective. This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, nor shall there be any sale of securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
A copy of the F-3 Shelf Registration has been posted on Progen's website: http://www.progen.com.au/?page=infilings.html
Quote from: 422fwhp on March 22, 2007, 10:34:05 PM
Progen Files F-3 Shelf Registration with Securities and Exchange Commission
SYDNEY, Australia, March 22 /PRNewswire-FirstCall/ -- Progen Industries Limited (ASX: PGL - News; Nasdaq: PGLA - News) today filed an F-3 Shelf Registration with U.S Securities and Exchange Commission.
When effective, this registration statement will allow Progen to issue, from time to time, up to $60 million in any combination of its ordinary shares and warrants over the next two years in the U.S.
The terms, amounts and pricing of any future issue of securities will be determined and announced at the time of the offering.
Any offering of common stock covered by the registration statement will be made only by means of written prospectuses and prospectus supplements. The registration statement relating to the common stock has been filed with the Securities and Exchange Commission, but has not become effective. Common stock may not be sold and offers to buy may not be accepted prior to the time that the registration statement becomes effective. This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, nor shall there be any sale of securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
A copy of the F-3 Shelf Registration has been posted on Progen's website: http://www.progen.com.au/?page=infilings.html
422fwhp,
I think this is very positive news.
Sonray Morning Equities Report - March 23rd
Comments by Peter Taylor
US registration for flexible funding requirements is a positive.
HOLD current positions or ADD part positions to those not exposed yet.
The likelihood of PGL completing these Phase 3 Trials is high and revenue will be huge.
This remains speculative but worth having a position in.
Continue to HOLD.
By reaching Phase 3 trials and being fast-tracked by the US Food and Drug Administration, the chances of success bode well.
A confident move by PGL to buy back some licensing from an outside company.
This suggests management is confident that they can bring the drug to market themselves.
One broker that follows this stock has raised target on PGL to over $12.00
The silent mover is on the move on above average volume. Low float and volatile though.
And the results we were anticipating:
http://www.progen.com.au/prs/progen_final%20phase2%20data_15-apr-07_FINAL%20press%20release.pdf
Wow! The phase-II trial demonstrated the prolonged time of tumour recurrence from 27 to 48 weeks, that is a 78% improvement!
The FDA has also agreed that stage 2 of their phase-II trial is no longer necessary, they were given the go ahead to start enrolling patients in a phase-III trial in the second half of 2007. The reason for the $60 million stock, warrant shelf may be to fund the phase-III trial themselves; which would be a smart move at this point.
Cheers,