Well... my view with Avexa is they have sufficient cash to survive the bear market. I bought at 30c and sold out at 22c. However, I do plan to re-enter soon when the market dust settles.
I look also at another Phase III stock, Neuren Pharmaceuticals. Their results come out at the end of this year but look at its share price. It is currently 6c and the next buyer is 5.1c!! I am definitely not happy with that. Share prices take longer to recover than to collapse. However, I am holding because I think their drug is the closest to the market among the biotech companies making new products in Australia.
Anyway, I guess with biotech stocks without any products out in the market, they are massively speculative. Put the money in and expect a long wait, sometimes seeing it disappear altogether.
Black swan?
Cheers,
Brian
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