That is a very unfortunate outcome for investors there (although I am not familar with the company to know the ins and outs).
Interestingly, OPT was down 50% from their 12 month high and still commanded 700m~ market cap (before the trading suspension), on what appears to be a rather binary outcome. OPT also seems to have have burnt through 31m in from their last Quarterly result.
All these characteristics can affect the optics on the 'small/medium' Australian biotech sector and I can see why some investors choose to put these types of investments into the too hard basket and invest elsewhere.
It is reassuring that whilst a lot is riding on NNZ-2591 we have a firm financial base, and Daybue where an unexpected negative result will hurt a lot, but it won't be company ending with investors leaving with potentially nothing.
NEU Price at posting:
$12.34 Sentiment: Buy Disclosure: Held
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