PROGEN - PGL
http://www.progen.com.au/investorinformation/index.cfm
Progen is a veteran Biotech getting EXCELLENT coverage in this week's bioshares www.bioshares.com.au (no, i cant post it - i paid for the info and it's copyright, but i encourage you to pay the $220 for one year subscription). Progen went from $1.00 a share to $100 a share in 1990ish, however has been in decline ever since and is now on the bounce .
They have a HEAP of patents and trials in phases 1-3, and various things in development.
On the back of this weeks Bioshares article I expect a lot of interest in this, but that in itself isnt enough
PGLAF is the nasdaq ticker symbol, PGL is the ASX symbol. PGLAF jumped 14% overnight on some strong numbers coming back from various opps.
WHY DO I LIKE THEM
They have existing contracts in place and are already cash positive
They have come out of a slump that has made them undervalued
The things they are testing relate to cancer related treatments and are experiencing high success rates
They have a HEAP of patents. . . i mean HEAPS
They are capitolised at 53m, and have 12m in cash, that hasnt just come from writing more shares like MUL
WHAT DO I PREDICT
A jump this week on the back of the good article, followed by a small increase over the coming weeks. There is significant upside in this company that hasnt been seen yet in the market.,
Given the solid pipeline of developments, successes and the R+D portfolio (as well as the fact they make money already) this is an excellent stock
I am holding PGL
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