Here is my 1c worth:
When MC exceeded $2.5Bn people didn’t have the courage to sell at nor call the top. IMHO it was a matter of SP getting ahead of the FA. All the trials were having positive results, and the news dropped frequently. There were many global M&A activities coupled with videos by AT which kept the SHs very bullish on the company’s prospects. ASX200 inclusion was expected to increase the SP which it did for some time. AT himself mentioned that instos were complaining that the SP rose so much that they had to keep selling to manage their allocation to CU6. A quickly rising SP is the best marketing machine.
It is a matter now of accepting that the reverse is probably true though FA has only continued to improve. More molecules or combinations have been identified for progressing in the lab. Trial readouts have been slower than expected. There have been no global M&A news although there was local news with RAD. Big brother TLX continues to march on unfettered by Clarity’s progress. There have been not many videos from AT.
In this process the pendulum has swung the other way where the SP/ MC is below intrinsic value IMO. The company doesn’t seem to be in a rush to commercialise following CLARIFY but waiting for phase 3 in BCR may be to ensure Cu64 is not used off label? Could this result in partnership in 2026/27 (which may bring in biobucks) with commercialisation only in 2027/28? Is the timeline slower than SHs expectations depressing the SP?
No advice. DYOR. GLATH.
(20min delay)