PGLA

[kslifka]

Dohh.

Up on Study

http://www.thestreet.com/_yahoo/newsanalysis/biotech/10327619.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA


   
News & Analysis: Biotech    
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   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.

[kslifka]

On fire...

[alvin58]

nice!!! aplaud

[422fwhp]

Down almost 20% today but still looks healthy.

Watching for a possible STEPS entry.

Applaud.

laterz...Jody

[buddjas1]

Second stage breakout happening today.  Up 9% and climbing.

[traderdog]

 

This baby is ready to rally! 

4.83

Get ready my friends!

[422fwhp]

Watching for STEPS entry.

[traderdog]

lol.. got halted.  Wonder why. 

[busker]

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.

[422fwhp]

Any comments on the distribution?

STEPS entry qualified? 

GLTA...Jody

[422fwhp]

sell the news?

Looks to be sitting on support, imo.  Comments welcome.

[422fwhp]

I did notice it was back above the 9 and 13 sma's.

[422fwhp]

Could be running    currently up to $4.95 (+9%)

RADAR

[busker]

<< 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!   

[busker]

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.