Mayne have 200m shares and its up about 10c, so $20m, but by the looks of it trading isnt very liquid, so take the price with a grain of salt. Point is that it increased strongly on the news, so others see it as good news.
Mayne own patents on the drug, which are exclusively licensed to HPPI in the US, the big win is if it actually gets approved by the FDA which can be a long process. New drugs get years of exclusive use, so good prices, but im not sure how widely used the drug might be, its for a special type of cancer.
I assume Mayne would have manufacturing and distribution rights as well if it does get approved.
I couldnt even guess what it might mean in EPS.
Movement at HedgePath, page-3
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Last
$3.98 |
Change
-0.010(0.25%) |
Mkt cap ! $338.5M | |||
| Open | High | Low | Value | Volume |
| $4.08 | $4.12 | $3.96 | $218.8K | 53.93K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 2255 | $3.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.99 | 972 | 6 |
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| Last trade - 15.14pm 16/08/2024 (20 minute delay) ? |
| MYX (ASX) Chart |