Both Avexa and Pharmaxis had trading halts right before they released updates this past month. For Avexa, it was in May, and for Pharmaxis, it was this past week.
In both cases, shareholders were overconfident as to the news that would follow the trading halt. In both cases, the news was bad and the stocks got crushed.
I don't recall Epitan or Clinuvel having a trading halt before releasing trial results, so if by chance we see one, that would probably would not be good.
Clinuvel's drug is safe and it improves the quality of life. The only potential problem here with the EPP results would be stastical significance, something that they have struggled with for PLE.
They said in the EPP interim results there was statistical significance for for a certain number of patients (they gave an exact number), but they declined to comment on what happened with the other trialists.
The market has decided in large part to sit this one out until full results are in. This stock is not going to move until they release the full results, which are 3 months overdue - they were supposed to be out in Q1.
A lot of AU biotech investors, such as AVX and PXS investors got burned so there is probably a lot of hesitancy right now among biotech investors.
Whatever the results are, the company can ill afford to let this slip into July.
better not have a trading halt
Add CUV (ASX) to my watchlist
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Last
$13.28 |
Change
-0.250(1.85%) |
Mkt cap ! $664.8M | |||
| Open | High | Low | Value | Volume |
| $13.55 | $13.62 | $13.25 | $1.157M | 86.45K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 227 | $13.28 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $13.42 | 228 | 1 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| CUV (ASX) Chart |