Looking at the recent movement it seems a reasonable bet to assume the 40-60c range will hold for a while. The price didn't break below 40c and the cash backing should offer some support.
Even though sentiment is still low re the settlement, the cash backing should allow Biota to fund it's pipeline and possible purchase other struggling biotechs.
The governments are focused on saving the banking system but we still have the Japanese allocated budget to increase stockpiles, the UK, good news about tamiflu resistence, coming trials etc etc. As a 6 months hold, and if markets stabilise we could well see biota back to 80c-120c within 6 months. Note a director recently bought in the mid 40's.
Also worth noting that biotech activity in the states has been very high.
Any thoughts? The market is valuing the pipeline and relenza at phase I levels even though they are much more advanced. Perhaps the quarterly sales from GSK could be an ideal time to top up on weakness.
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