This may be an unpopular opinion, but I'm not sure how our current valuation warrants a buyback. If anything, that is counter-intuitive to the fact that we have just gotten great phase 2 results. If our stance is still to look for best value by keeping our options of going alone open (or at least being seemingly happy to going alone if necessary) then I would assume that the best way of doing this would be to begin multiple phase 3 trials and release those other indications in the mean time.
We either have something, or we don't. I understand risk appetite and investment horizons will differ amongst shareholders, but I think this is a no-brainer from NEU's perspective. If no one comes along with a decent offer, just keep moving along.
Like many here, I'm still in NEU for NNZ2591. To date it has not disappointed, but rather confirmed what we thought we had. Though I would like the share price further north and a TO offer Yesterday, I also realize that valuations tend to be undervalued in almost all Australian Biotechs. It's almost a discount because we're not an American company. Nonetheless, I think our valuation of around $2b is still reasonable in my book given that the market tends to value biotechs at peanuts until Phase 3 results. E.g. IMU is valued around $500m, OPT $700m, CUV $700m.
If we consider NNZ2591 to be equivalent to IMU and OPT, $500-700m, that means Daybue valuation is around $1.3b-1.5billion. My comparisons are not perfect but I want to make the point that, Yes: current MC is cheap, but so are the MC of a number of other biotechs.
Anyhow, I have bought parcels too at our prices as I was hoping $14-$17 might prove to be the low. If not, I guess, might to buy some more...
NEU chart, page-1867
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Last
$14.20 |
Change
0.150(1.07%) |
Mkt cap ! $1.814B |
Open | High | Low | Value | Volume |
$14.36 | $14.63 | $14.10 | $6.628M | 462.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1786 | $14.12 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$14.23 | 1786 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1786 | 14.120 |
1 | 113 | 14.110 |
2 | 3660 | 14.100 |
1 | 1786 | 14.090 |
1 | 1488 | 14.080 |
Price($) | Vol. | No. |
---|---|---|
14.230 | 1786 | 1 |
14.260 | 1786 | 1 |
14.280 | 1786 | 1 |
14.300 | 1786 | 1 |
14.400 | 3000 | 1 |
Last trade - 16.10pm 07/10/2024 (20 minute delay) ? |
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