Yeah, the FDA initially didn't approve the drug, and the company was running out of cash. The biggest investors asked for a liquidation.
Then the FDA does an about-face and stuns everyone by announcing they approved the drug after all. The stock shop up 900% in one day!
The "bagholders" got the surprise of a lifetime. If you had $10,000 invested in it, it would have been $90,000 the next time you logged into your online brokerage account.
Certainly is an amazing story.
And to think that most people are happy with a 15% annual return in the market.
Can't beat solid biotech stocks.
It's now starting to look like CUV might be one of those biotechs that has a depressed share price until positive Phase III trial results - or even approval - then BAM the stock takes off - rather than the buildup we had back in late 2006/early 2007 when we went from .30s to 1.20s in about 6 mos.
wow 15 bagger for cash strapped pharma, page-3
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Last
$13.90 |
Change
-0.200(1.42%) |
Mkt cap ! $695.8M | |||
| Open | High | Low | Value | Volume |
| $14.08 | $14.12 | $13.86 | $1.006M | 72.13K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 210 | $13.90 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $13.94 | 576 | 1 |
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| Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
| CUV (ASX) Chart |