The patent looks good and should be a positive for the business. So, what does the sp do after the release...? It falls on low volume.
Buy side was picking up but got yanked just before trading opened. Clearly there is little / no support for this business.
Only two reasons for this:
Lack of deals / cash flow - which is a fundamental issue in terms of running a viable business but there are plenty of bio's out there with booming valuations and no cash, so PYC seems to be 'on the nose' and the only way to change that will be to deliver the long promised / overdue deals.
2) The damned credit note which threatens to dilute existing shareholders significantly for a fraction of what management tell us it's worth. Clearly not a lot of support for that deal either....
So, it seems they can come out with all the fabulous science stories they want, but until they improve / prove their commercial aspects they're in the dog house.
It could be a close run thing between being able to improve sentiment and running out of cash. This ones turning into a real edge of your seat thriller !!:-)
PYC Price at posting:
1.6¢ Sentiment: None Disclosure: Held
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