3. AVE (EV: $4.8M - Moonshot) Avecho is high risk, high-reward biotech play. Their lead project is a Phase III trial for a CBD soft-gel capsule targeting insomnia, potentially becoming the first approved CBD treatment for sleep disorders. The insomnia market is massive, so success here would be transformative for AVE.
The trial is one of the largest of its kind, designed to meet FDA, TGA, and EMEA standards. Interim data from this trial will be a major catalyst, expected to validate their approach or sink the stock. Ph3 read out data is expected first half this year.
Their cash runway looks is low, and R&D tax incentives have supported ongoing development. This is the lowest priced Ph3 asset play on the ASX. Keep in mind this is an ultra-speculative play with near-term catalysts that could send it flying—or crashing..
Key Supports: The primary support level is at 0.002, backed by multiple instances of trading volume absorbing downward pressure at this level, particularly in September and October 2024.
Key Resistances: The stock faces resistance at 0.004, with multiple attempts to break above this price level, but consistent failure to sustain higher trading volumes beyond 0.004. Occasional spikes to 0.005 were quickly retracted, reinforcing slightly higher resistance.
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