The value gap to the US peers is related to pipeline and already achieved milestones. With next milestones met the first program is ready for the clinic, the next clearly aniticipated to follow 6 months later, plus follow up ocular programs, hence a 45 cents fair value.
Funding arrangements unknown at this point might also explain the lack of buying strength. Main point though is active price control over months which has exhausted market and it stopped looking.
To expect the old fashioned ASX CR is ill advised, there will be nothing like that eventuating, as I see it. Partnering news should see that price eruption one wealth manager advising Upxdn is anticipating. A staggered funding through partner and investor relations will see a rerate to include such in the share price. PYC is at the crossroads and that, in itself, has some investors cautious. If milestones are met which should trigger funding, then we are moving into the next league.
all IMO
PYC Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
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