Hoping so, but personally not optimistic. Its kinda crazy because with the new go ahead from the FDA, there are now more positives in the pipeline than when NEU traded at nearly $26 only 9 Months ago!
If $13.30 does not hold, next support is around $10.00 (October 2023). Since it was last at that price we have had the following milestones as from Hottods recent post: -NEU received rare paediatric disease designation for NNZ-2591 in PMS. If NNZ-2591 is approved in PMS, this is potentially worth US$150m+ to NEU (19/07) - Q2 24 Daybue sales announced, up from US$75.9m to US$84.6. (07/08) - FY 24 Daybue sales guidance revised down by ACAD from US$370-420m to US$340 –370m, potentially lowering NEU’s FY 24 licence fee revenue by A7m. But this was balanced by positive real world data for Daybue, 46% reduction in discontinuation rate and confirmation of EU filing in Q1 2025- _Announcement of positive Ph2 results for Angelman syndrome – a trifecta for NNZ-2591! (09/08) _Director (J Basile) purchases A$100,000 of NEU shares on market. (16/08) _Investor roadshow presentation released (19/08) _H1 2024 results announced – A$24.3m royalty income; A$8m profit after tax; COH A$213mASX.
So between a possible return to $10, how much would it be oversold at that or the current price and how much was it overbought a high of $26. Ultimately the market will be the judge.
NEU Price at posting:
$13.61 Sentiment: Buy Disclosure: Held
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