Ann: Henry Schein Expands Distribution Partnership For FebriDx, page-28

I think you are probably right on the accumulation. What is massively helping the accumulator are all the traders that have been caught high at the first peak around 17c and now yesterday at around 9c. Both very high volume days, so potentially a lot of trapped holders/traders. They will be selling each time it looks like there is a bounce. I even think some big players are trading this as we have seen with the Zhou family.

Only place of definite support would be around 6.5c where Perennial loaded up last week. Otherwise range bound for a while barring any knockout news which would not surprise me. But yesterdays fluff piece on a distributor agreement with no MOQs or sales projections was for the newbies, unfortunately. Probably want to ensure they get their SPP money. So expect a few more puff pieces.

Long term, we need to see actually sales orders before it has a decent move. Given some of the inside jobs happening with FDA approval news, I suspect you need to watch the price action rather than wait for the announcement, to jump in.

Yes, the snakes and ladders of microcap biotech ASX investing!

Also can't work put these 1c options and whether they are contributing to the volume. On a fundamental basis, $30M MC for the potential here is fair, gut I guess if you get your shares at 1c then 7c seems like a good sell price.