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Biotech / Medical : Progen Industries Ltd (PGLAF)

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From: Henrik	5/16/2006 8:39:29 PM
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Traders corner Kevin Andrusiak May 17, 2006 LIVER cancer is not the nicest of diseases so it is pleasing to hear someone is doing something about it. The US Food and Drug Administration has recommended that Queensland-based pharmaceutical company Progen proceed directly to the pivotal Phase III clinical trial of its lead compound PI-88 for the treatment of primary liver cancer, post resection. That means Progen will have to submit what is called a Special Protocol Assessment detailing the design of the trial, which should make the path to market for PI-88 more predictable - something that can be sorely lacking in the developing drug world. Broker Emerging Growth Capital, which has Progen stock on a strong buy with a share price target of $8.77, said there was potential for accelerated approval of PI-88. "There is also the possibility of earlier registration should interim data be sufficiently strong," it said. "If the interim results are sufficiently strong, and consistent with Phase II results, this may form the basis of an early application to the FDA." theaustralian.news.com.au

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