It may not be PW's decision:
On the 18/11/24, CUV announced that:
"CLINUVEL prioritises three strategic programs First in series of operational changes to deliver milestones more efficiently, faster"
"Commentary
“This Board, with its newly appointed members, has deliberated extensively as to the short- and long-term objectives of the Company,” CLINUVEL’s Chair, Dr Jeffrey Rosenfeld said.
“By providing clear priorities we can accelerate development and generation of meaningful milestone news for public investors. Today’s decision is the first of a number of far-reaching changes that we invoke,” Dr Rosenfeld said.
Perhaps the Board has decided it has higher priorities for the cash rather than been used on a buyback.
From the 2024 Annual Report (page 70):
View attachment 7055328Until they complete or do away with their acquisition plans, they cannot really say for sure they have surplus cash available for the buyback. Perhaps the new Board has overruled PW.
Regards
SP
(20min delay)