New position – PGNX

I meant to post last night that I picked up some Progenics yesterday. I have some lengthy notes which I will put up this morning but the rationale is:

  • PDUFA in April,
  • sNDA for product that has good data and been on market for 4 years so should have good chance of approval,
  • Low trading volume – increased interest coming closer to catalyst should drive price,
  • Good product with clear development strategy and decent commercial potential,
  • Recent pull back to ascending trend line.

I added at an average price of $9.60.


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