Personally, think the $OCC announcement was solid but it was only tested in 12 patients. It will continue to move because $60M MC is undervalued IMO for what they are sitting on.
$BOT has a Ph2 announcement with a significantly larger cohort. Results will ultimately underpin a lot of their other products in development. If it's good, I can assume it will move more than $OCC.
However, in both cases, there will be selling on news and seeing funds took up a $40M placement in $BOT you may see a churn that will inevitably inhibit its SP growth. But time will tell....
You're right to some degree, but I don't think it will trade like $OCC (assuming it's positive Ph2 results).
Bot Chart, page-2390
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Last
36.0¢ |
Change
0.025(7.46%) |
Mkt cap ! $567.0M | |||
| Open | High | Low | Value | Volume |
| 36.0¢ | 36.5¢ | 33.3¢ | $14.94M | 42.66M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 112268 | 35.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 36.0¢ | 276101 | 7 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| BOT (ASX) Chart |