The market, well at least the wave of sellers and the masses sitting on the sidelines, aren't saying the results are bad, they are saying there are prospects, companies and management teams out there that are preferable to Bionomics. The last capital raising (and numerous ones before that) was poorly timed and executed and shafted shareholders. The ridiculous press releases following that asking why the market didn't understand didn't help the credibility problem. I wouldn't blame the new investors if they had a "What have we bought into?" moment and sold down as well.
Bionomics has a credibility problem, starting with the CEO who has generated zero return over more than 15 years at the helm. These results together with the deals and pipeline in credible hands would be double the value. But we are always only one press release from some destruction of the share price. This time around some investors are getting in early.
I doubt the researchers in London are shareholders. They are entitled to be excited. Good on them.
BNO Price at posting:
34.5¢ Sentiment: Hold Disclosure: Held
