Protox Therapeutics Inc T.PRX

Got tierd of waiting

[cabbieJBJ]

for PRX action on Triumph Phase 2b, 24-month open label and IND submission news and sold my PRX position in the TFSAs.  Put the $$$$$ into Wilan.  This is a short term strategy as I expect near term gains in Wilan.  I hope I can re-catch PRX in about 4 - 6 weeks.

From my perspective, the new WP people at PRX are applying their expertise to the go-forward strategy and that has taken longer to rejig the data and presentation.  Not a bad thing...their track record is good.  Also, noticed that the new chairman bought some shares...also a good thing.  But for the next month or so, I considered PRX dead money.

Hope I am not making a mistake; I still have a substantial position in PRX.  Anyone hear anything or have perspective on why announcements are slow in comming?

Cheers, jb

[sanduf]

My Source for info advised me yesterday that Protox needs $500,000,000 to carry on with Phase 3 testing and FDA approval. Looks like the $75,000,000 from the sale of the Japanese rights and the $35,000,000 investment from the European investment firm are just a drop in the bucket at this point.

[cabbieJBJ]

Sanduf - did you challenge your souce?  That's an incredible amount of money fro a phase 3.  Are you sure that an extra zero hasn't been added?  I coiuld believe $50,000,000 - but even that is high.  an89w

[bioboy10]

Thats way too high - I was given the 30 million number. Which they should be able to have in the coffers.Any hint of the results..

[cabbieJBJ]

The $30 million range was my understanding as well.  I think PRX is trying to package several elements for the NR.  My estimate is that it will be the second half of March before we see anything.  That why I moved some of my position out of PRX in the short term. 

[sanduf]

He is an MD in the study and has been active in its development from the start. However, that doesn't make him a good accountant.