I am out of PGNX. Sold what was left of my original position yesterday at the open – negative news and poor general market sentiment convinced me to exit. I will probably get into this again ahead of the now delayed PDUFA.I am now all cash and sitting on my hands until I find something compelling.
I have an article at SeekingAlpha outlining some data on the performance of the recent selling approvals (AFFY, VVUS and PLX). This is a follow-on to an earlier review of this strategy starting in January 2011.