Progenics Should Outperform The Market In The Short Term
By Niall Corrigan:OverviewBy a strange coincidence, I am currently long both Progenics Pharmaceuticals Inc. (PGNX) and Ironwood Pharmaceuticals (IRWD). It's not that I am particularly interested in constipation meds - the timing has just worked out this way.IRWD's constipation med (Linaclotide) is focused on irritable bowel syndrome related constipation. PGNX, however, aims to treat constipation brought on by opioid use. Their drug (Relistor) is currently marketed for this purpose to patients who are using opioids for cancer-related pain. They are now seeking to extend that label to include patients on opiates for non-malignant reasons.ProductRelistor is a peripherally acting small-molecule opioid antagonist that counteracts the constipating effects of opioids in the GIT without compromising the central analgesic effects. Pain is mediated by centrally located receptors while constipation is due to peripheral receptors.Based on company press releases, sales in the malignant pain environment have not been very impressive. TotalComplete Story »
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