the train keeps moving--plenty of nice scenery

The share price is now $A6.20 and the PGLO Option is $A4.

The overnight Nasdaq share price price was $A6.50 equivalent.

PGL:
http://bigcharts.marketwatch.com/javachart/javachart.asp?symb=au%3Apgl&time=&freq=

Those of us who have held shares and options for a while did very well: PGLO was 45.5 cents at the end of JAN.

The question is: Can this continue?
For starters, I see a new gap appearing on the graph and progress is vertical. STO=95

The demand is consistent though but why?
We know that EGCAPITAL put out 2 valuations, a very heavily risked one of $6.15 but later amended that to an unrisked status of $16.90.

PGL has very few shares and options: (35.1 mill shares, 3.73 mill listed PGLO options and 2.74 mill Management Options)

We know that their drug PI-88-see these threads- has more inhibitors than the by now very well known drug AVASTIN.

This alone is a powerful motive to have a higher PGL share price.
PGL has 3 Phase II trials going at the moment; their first trial for MELANOMA was a very good one and the FDA granted them the ORPHAN DRUG STATUS for Melanoma Phase I/II trial on May 4, 2004.

Some investors may think that the risked value may lie between $6.15 and $16.90, say halfway. They would then apply some correction factor to this value and so the Market will arrive at a value which is lower than ($6.15 + $16.90)/2 =$11.50.

It is impossible to gauge what the correction factor to this value of $11.50 is. Will the market price be 67% of this $11.50 or more at the moment?

And when will any agreement between the PHARMA and PGL take place? Will it be for Melanoma only at this stage?
Are there any parties who know more and who keep buying?

I can't answer these questions and it is up to the reader to gauge the risk and make a decision if they need to make one.

I intend to see this one through because not only was my entry price low but also because I believe this to be one of highest intellectual drugs ever developed.

Still, the results from the trials won't be known till Febr/March, I think.

Gerry
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