TSXV:BTI.H - Post by User
Comment by
Boomskidon Feb 24, 2023 12:23pm
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Post# 35303653
RE:PLX vol. 2.5 million shares with only 50 million outstanding
RE:PLX vol. 2.5 million shares with only 50 million outstandingI'm not surprised that the PLX share price has made such a modest move on the CHMP opinion. It's clear that the market knows that a pharma can't begin commercial operations with an opinion and that approval is required for revenue.
With the great clinical results that Protalix and Chiesi have achieved with PRX-102, it will be no surprise to the market when they get FDA approval of the drug. The delay in FDA approval was triggered by the FDA's inability to inspect Protalix's ProCellEx manufacturing and post-manufacturing facilities due to travel restrictions caused by Covid. Also, the situation with a PRX-102 competing drug changed and Protalix/Chiesi have had to create new PRX-102 FDA submissions to reflect those changes. I doubt the market has much doubt about eventual approval of PRX-102. Rhat belief is is probably already baked into the current share price.
As a result, I expect this CHMP opinion will peel even more of the upside off of the PRX share price when they do get FDA approval of PRX-102.
But all of this has little to do with Bioasis. PRX-102 is not an xB3 drug. And even if it was the xB3 version, we know what it's worth to Bioasis because those terms were settled on June 29, 2020.
jd