The company was vague about how long they believed it would take to get FDA/TGA approval, as well as how much capital it would take to get there. Like any healthcare stock, everyone jumps on board at the start, on literally any good news whatsoever. Then unless the proceeding newsflow can match that initial hype, traders will cash out. We are in a situation now where no one will even think about touching this stock unless they know for certain that FDA approval is within 6 months. Misguided optimism has now been replaced with blind pessimism.
LTP Price at posting:
59.0¢ Sentiment: Buy Disclosure: Held
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