up 49.4% on good volume - read on
Progen maintained the momentum to the close. Closed at HOD - $1.18 up 49.4% on the day with good volume for this stock.
Looks like the Sydney-siders attending the presentation this afternoon kicked the price up just before the close. Let's see what tonight will bring on Nasdaq and then another presentation in Melbourne tomorrow morning. It appears that Progen's PI-88 compound is advancing and more data should become available as the trials continue.
Also the company has recently hired Dr. Darren Schliebs, Ph.D. as Vice President Business Development. In this position he will be working on licensing agreements with major pharmaceutical companies. Still some way to go, but licensing agreement(s) will greatly change the company's financial position and also provide a good deal of cash for further R&D.
About Dr. Darren Schliebs: http://www.progen.com.au/about/people.cfm#1138
PGL Price at posting:
0.0¢ Sentiment: None Disclosure: Held
