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.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s