You seem particularly triggered by lmac posting the PW video announcing the share buyback? I thought it was an excellent video, I was very pleased they made that announcement over one year ago. I am not so pleased they have basically done nothing resembling what they said they would do even as the company has grown stronger, profits and EPS have grown and SHAREHOLDER cash reserves have grown massively. Incidentally they have splashed out on share grants within the company which has basically cancelled out any benefits from the tiny amount of share buyback they did do. All this while ASIC data shows massive daily interest from the hedge fund or bank shorting CUV and as the share price has been manipulated to decade lows and about 40% down on when the announcement was made. Here is some more from the video:
"Today we are very pleased to announce a share buyback program whereby Clinuvel will repurchase up to three percent of it's outstanding share capital or approximately one and a half million shares over the next twelve months"
"With 175 million dollars in cash reserves we believe that the repurchase program is not jeopardising or affecting our ability to reinvest in research and development."
"The board of directors and management believe that the current valuation of the company is no longer commensurate with the depth of the pipeline, the research, the progresses, the future cash flows that we expect from the EPP market which is growing both in Europe and the US, but also with the markets for Vitiligo that lie within reach"
"we believe that the market valuation lies far below the median seen in biopharmaceuticals"
All IMO DYOR
CUV Price at posting:
$10.37 Sentiment: Buy Disclosure: Held
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(20min delay)