I think you right about FDA approval the only thing that will get this going coupled with some good revenue numbers. The trend that I have noticed in spec Aussie bio-techs is once they release the positive research of their new wonder drug/product if it is not followed up with strong financials in the few months following the stock flat lines and in most cases drifts down.
One of the most ramped stocks on HotCopper, OBJ is a good example of the market just not fully buying into a healthcare product with no financials to support it. Compare OBJ chart with PRR chart from around April 2014 until now and it has been relatively flat. Keep on looking at many other bio-techs and the majority repeat this pattern. I suppose the only saving face for PRR are there are some big names behind it so it is unlikely to go out of business anytime soon but nevertheless it is painful to watch the share price languishing at this level.
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Last
40.0¢ |
Change
0.005(1.27%) |
Mkt cap ! $588.3M |
Open | High | Low | Value | Volume |
38.5¢ | 41.0¢ | 38.5¢ | $952.5K | 2.391M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
28 | 140537 | 39.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
40.0¢ | 231402 | 15 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
27 | 142145 | 0.395 |
17 | 170805 | 0.390 |
14 | 159504 | 0.385 |
18 | 187537 | 0.380 |
7 | 93189 | 0.375 |
Price($) | Vol. | No. |
---|---|---|
0.400 | 218324 | 14 |
0.405 | 238230 | 8 |
0.410 | 387902 | 16 |
0.415 | 295980 | 14 |
0.420 | 518999 | 11 |
Last trade - 13.17pm 03/09/2024 (20 minute delay) ? |
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IMM (ASX) Chart |