Ann: Investor Presentation, page-6

Gday E. Its an Australian Biotech, and like most its value wont be reflected until a huge hammer falls. There was a significant holder (AEF) which would offload shares whenever this tried to run. Effectively capping it. It looks like they have sold down the majority of their holdings, so this will hopefully stop.
A lot has happened the ANP recently. Take a look at their MOST recent announcement, page 20 I think it is, shows a timeline. So far, they have been pretty good hitting these targets. Also look at the RPDD from the FDA, and ODD from both FDA and EMA. Plans are for a Phase 2b trial in Europe next year may be only trial needed to get this to market. So plenty of upside here, if all goes well.
The market cap does seem very cheap for the potential with ANP. There are some very smart contributors to the ANP threads, well worth the time to take a look.