The amount of posts here lately regarding the sp movement is astonishing, out of the companies I'm following this stock generates the most discussion at seemingly all hours of the day and night lol. There's really not much happening that you don't know about already. Find some balance and step away for a bit, come back in December if you can.
Before everyone steps back from talking about the share price until December (lol, I don’t think that’s gonna happen!) I just wanted to add an observation.
From FDA approval of Daybue in March until just prior to the ROW announcement in July, NEU rose ~50%. In the same period, ACAD rose ~25%.
Six days after the announcement that Acadia had secured ROW rights for trofinetide, on 20 July, NEU hit a high of $14.75. Today’s low is 28% down on that. Over the same period, the ASX 300 pharma and biotech index is down just marginally.
ACAD peaked @ $33.99 on 18 July, 5 days after the ROW rights announcement. Last Friday, the price hit a low of $24.67, also a drop of 28% since the post-ROW announcement high. Over the same period, the NASDAQ biotech index is down just marginally.
There doesn't appear to have been any sudden large dump of shares. An ACAD shareholder complained on Friday “Another day of computers trading 100 shr trades amongst themselves. Come back in November.”
Certainly for NEU there has been an accelerated fall over the past three weeks since just prior to the announcement that NEU was being added to the ASX 200. Perhaps it’s just pure coincidence, yet the identical percentage drop in NEU and ACAD since the Daybue ROW deal was announced, in the absence of any negative news for either company or any significant downturn in their respective biotech indices, gives pause for thought.
NEU Price at posting:
$10.90 Sentiment: Hold Disclosure: Held
(20min delay)