Nope, the buyer still there, well above previous bid levels before this move up started. Small investors without conviction just selling in. Just had a little tickle of the seller to see if an iceberg order on the offer. Its not.
I am invested in another stock like OSX that got a nice partnerhsip deal last week - its gains still somewhat muted as some retail sigh in relief and cut losses, their conviction eroded. The technology of OSX must look similarly attractive to big Pharma. If we know about it, so do they. I suspect OSX will show very real acceleration towards positive cash flows standalone soon anyway. The reason many investors bought it at higher levels alas - they are just cutting losses.
Too many bio-techs with good products in Australia with too high cash burn and too slow progress in revenues, with investors hope turning more to partnerships as cash flows bite, and the dreaded capital raising looms ever more likely.
Not much consolation for long-term holders, but OSX looks a bit silly priced down here for what could easily be 8 figure yearly revenues at very high margins within 5 years.
