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Closing PGNX (Progenics) outperform

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April 25, 2008 – Comments (0) | RELATED TICKERS: PGNX

I may be jumping ship on Progenics a little early, but I think there will be some growing skepticism about the true size of the market for Relistor in terminally-ill patients with opiate induced constipation. It's hard to know where the top is, but I predict some pullback will occur in the months before the company books any revenues. Another major short-term catalyst is the May 10 PDUFA for Adolor's Entereg, which if approved could put a substantial dent in Relistor profits.

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