surprising price surge

If AVX don't find a partner/significant funding source in the next 3-4 months then administration is likely.

Given this major near-term downside risk, it is surprising to see punters backing the latest newsflow so strongly.

Evidently, the market thinks that the $100mill AVX needs to complete phase III is going to emerge from somewhere soon. I'm not so sure.

However, I also hope that, contrary to my concerns, AVX is ultimately successful in finding a funding source.