Today's announcement is seen as irrelevant, with Nexavar several...

Today's announcement is seen as irrelevant, with Nexavar several months ahead in the approval process. Nexavar has established itself as the best-in-class treatment given its superior safety profiling for multiple conditions.

Progen should now turn its attention to the next-generation compound, with the viability of PI-88 coming under the microscope. Expect this one to trade down to cash value in the near term.