There is strong support for the price between 1.6c and 1.9c. This is a historical support level. I think it stays above these levels in the short term( unless there is a significant discount on the SP for a CR.
The "wipeout" has already occurred. If this company was truly a phase 2(b) HIV success, then the market cap should be above $200 million, maybe more. Why is it discounted soo heavily?
I think the answer =2018, specifically towards the end of that year. The company presented the original phase two trial as a breakthrough for HIV, bit225 eradicating the virus in the reservoirs etc
They also told punters over the phone and at the AGM that they were negotiating a deal and it sounded like it was close to a done deal. A few posters recorded JJ and gilead, as the two parties in the mix. So if any of this is true, then why no deals seven years later? I find interesting that whilst they remarkable results were published and the company was negotiating a potential deal, the directors sold nearly a million bucks worth of shares at 20-18c. There are a number of reasons why they could sell. Tax bills etc; but the timing just doesn't make sense, if the results were remarkable and a potential commercial deal was being negotiated .
Roll onto 2024.... couple of quarters of cash left. No deal. Most investors know that the options are dead, which is a real shame as it would have given the company a chance to look at cancer or zika. They can still look at these areas (again), but will need some $$$.
The big problem is the patent expiry. The clock is ticking down. They've got lots of interesting ideas, but not a lot of time on the clock.
BIT Price at posting:
2.1¢ Sentiment: None Disclosure: Not Held
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